Your Robinhood Crypto account may rely on a Robinhood Spending account (RHY) to fund crypto purchases with cash. Soon Robinhood will no longer support Spending accounts. This also means you’ll no longer be able to fund your RHC account through RHY.

To keep using Robinhood Crypto, you’ll need to link your crypto account to a Robinhood brokerage account (RHF) instead.

If you want to keep using Robinhood Crypto

You’ll need to open or reactivate a brokerage account before the date of closure stated in your email. . Once you do:

• Your Robinhood Crypto account will stay open
• Any funds in your Spending account will be moved to your brokerage account
• Crypto transactions will still take place in your Robinhood Crypto account, but funds for purchases and proceeds from sales will automatically move between your brokerage and crypto accounts

Check out these pages for more on how to open a brokerage account or how to reactivate a brokerage account.

If you don’t want to continue using Robinhood Crypto

You can withdraw your crypto to an external wallet or sell it for cash before the date of closure stated in your email.

If you still have crypto in your account after that date:

• It will be automatically sold
• A check for the balance will be mailed to the residential address on your account

If you have no crypto or cash in your account

Your Spending account will automatically close on the date noted in a personalized email sent to you. No action is needed.

If you still have crypto or cash in your account

You’ll need to take action before the deactivation date that was sent to your email. If you don’t:

• Any crypto in your account will be sold
• Your full balance will be mailed as a check

If the check is returned or uncashed, your funds may be sent to your state’s unclaimed property office.

Yes, as long as it’s linked to a brokerage account. After RHY accounts are sunset, all RHC accounts must be connected to a brokerage account (RHF) to remain active and funded. If you don’t open or reactivate a brokerage account, your Robinhood Crypto account will be closed and your crypto assets will be sold.

We’re retiring Robinhood Spending accounts. Going forward, any cash positions in Robinhood will be held in your brokerage account. You’ll still buy and sell crypto in your Robinhood Crypto account, but your brokerage account will be used to fund those purchases and receive any proceeds.

All investments involve risk and loss of principal is possible.

Robinhood Financial LLC (member SIPC), is a registered broker dealer. Robinhood Securities, LLC (member SIPC), is a registered broker dealer and provides brokerage clearing services. Cryptocurrency services are offered through an account with Robinhood Crypto, LLC (NMLS ID 1702840). Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services. All are separate but affiliated entities.

Robinhood Crypto is not a member of SIPC or FINRA. Cryptocurrencies are not stocks and your cryptocurrency investments are not protected by either FDIC or SIPC. For more information see the Robinhood Crypto Risk Disclosure.