Crypto trading

Use the following steps to buy or sell crypto within your Robinhood Crypto account.

A limit order is an order placed to buy or sell a specified amount at a specified price or better.

A limit buy order lets you choose a maximum amount you are willing to pay for crypto. Limit buy orders only execute if the ask price decreases to your limit price or less.

A limit sell order lets you choose a minimum amount you are willing to receive for your crypto. Limit sell orders only execute if the bid price increases to your limit price or more.

Limit orders (placed in EUR): Buy: You will never pay more than the EUR amount you enter to purchase a specified amount of a crypto, rounded up to the nearest cent. Sell: You will never receive less than the amount you enter to sell your specified amount of a crypto, rounded down to the nearest cent.

Limit orders (placed in fractional amounts): Buy: You will always receive the exact amount of crypto you entered in the order. The limit price for crypto buy orders is the maximum amount in EUR you pay for a specified amount of crypto, potentially rounded up to the nearest cent. Sell: You will always sell the exact amount of crypto you entered in the order. The limit price for crypto sell orders is the minimum amount in EUR you are willing to receive for a specified amount of crypto, potentially rounded down to the nearest cent.

To help combat dramatic price moves, market orders are converted to limit orders with a collar of up to 1% for buy orders, and 5% for sell orders. This means that your order will not execute if the price of the crypto moves more than 5% lower than its price at the time you placed a market sell order, or more than 1% higher than its price when you placed a market buy order. Market orders that do not execute after 5 minutes may be automatically cancelled.

When you buy or sell crypto on Robinhood Crypto, we send your order to trading venues that allow you to receive competitive prices.

Robinhood Crypto sources liquidity from multiple venues to provide competitive market pricing. Robinhood Crypto does not disclose the names of our execution venues, but we use a variety of trading partners so that we are not solely dependent on a single venue for execution.

You do not have to buy full coins on Robinhood Crypto. You can place an order to buy or sell crypto at fractional amounts.

To help protect against potential price volatility, market orders are converted to limit orders with a price collar of up to 1% for buy orders, and 5% for sell orders. This means that your order will not execute if the price of the crypto moves more than 5% lower than its price at the time you placed a market sell order, or more than 1% higher than its price when you placed a market buy order.

Position limits refer to the maximum amount of a crypto that you can buy and hold with your Robinhood Crypto account. The position limit for all crypto is a maximum cost basis of €20,000,000 per crypto. Position limits are subject to change at Robinhood Crypto’s discretion.

You can buy and hold up to the cost basis limit worth of a specific crypto. Note that the value of your crypto on Robinhood Crypto may exceed your position limits based on market fluctuations affecting crypto prices.

When you buy and sell crypto, orders will execute at the ask price when selling and the bid price when buying. The buy spread is the difference between the ask and mid prices, the sell spread is the difference between the bid and mid prices. Robinhood Crypto does not receive any portion of the spread.

While there is no fee for trading Bitcoin, Robinhood Crypto may charge a fee for trading certain crypto. The fee may vary based on factors like market conditions.

You can trade crypto 24/7 with your Robinhood Crypto account, with some exceptions, such as scheduled maintenance. We periodically schedule maintenance windows that can occur at different times, and might affect the timing of the trade.

We calculate cost basis (original value or purchase price) on a First-In-First-Out (FIFO) basis. This means the order we sell your crypto is the same as the order you bought them.

Why am I unable to place a buy order?

Here are a few reasons why you may be having issues placing a buy order:

• You do not have enough buying power to place the trade. Buying power is the amount of money available to trade. If you do not have enough buying power to place a buy order, you can deposit more money or sell other crypto.
• Your account is restricted from trading. If your account is restricted, you can Contact support.

Why are the mid price and order price different? The price shown on a crypto detail page is the mid price, which is the midpoint of the bid and ask prices. When you are placing a market buy order, your order may execute at the ask price, which is higher than the mid price. When you are placing a market sell order, your order may execute at the bid price, which is lower than the mid price.

Crypto prices are volatile. To help protect your market orders against dramatic price moves, we adjust market orders to limit orders collared up to 1% for buy orders, and 5% for sell orders.

Any price difference you may see between the estimated buy or sell price and the execution price is due to market movement.

Why has my crypto order not filled?

There are a few reasons why your crypto order may not be filled, such as:

• The crypto price moved outside the market order collar. All market orders for crypto are placed as limit orders with a collar. If the price of the crypto moves outside the collar, your order will remain pending.
• Due to scheduled maintenance. You will be notified in your app about any scheduled maintenance outages and their estimated duration. If you can place orders to buy or sell crypto during the maintenance window, they will not execute until after the maintenance is completed. All pending orders will remain pending during maintenance.