Crypto transfers

Transferring crypto into and out of your Robinhood Crypto account is fast and easy. You can consolidate your coins into one account so it’s easier to track your portfolio, move supported coins into your Robinhood account so you can trade those coins commission-free, and more.

When it comes to crypto, it’s important that you—and only you—can transfer coins into or out of your Robinhood Crypto account.

To enable crypto transfers, you’ll need to verify your identity and add two-factor authentication to your account. After you complete those steps, it can take up to 5 business days to review your info and enable crypto transfers with Robinhood.

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Verify your identity

You’ll need to verify your identity with:

  • A photo of your government-issued ID: Acceptable forms of ID include a driver’s license, state ID, passport, passport card, or permanent resident card.
  • A live photo of yourself: You might be asked to take a selfie with your mobile device or webcam. Make sure you’re in a well-lit place to take your photo.
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Add two-factor authentication

Two-Factor Authentication (2FA) provides an additional layer of security to your account. 2FA makes it much harder for attackers to gain access to both of these, which helps protect you in case an attacker learns your password. 2FA is more secure because it requires 2 sources of verification: Something you know (your password) and something you have (the code you generate or receive on your device)

  1. Set up an authenticator app: First, you’ll need to download an authentication app—we support many major third-party apps, including:
  1. Confirm your mobile number: You’ll get a code in a text message to the phone number linked to your Robinhood account. When prompted, enter that code to confirm your phone number.
  2. Verify your email address: We’ll send an email to the email address associated with your Robinhood account. Select the link in the email to confirm your email address.
  3. Select AccountSettings
  4. Under Security, select Two-Factor Authentication
  5. Toggle the feature to the On setting
  6. Choose the authentication app
  7. Select Open App
  8. Confirm that you’d like to add Robinhood
  9. Copy the verification code generated by your authentication app, and when prompted, paste it into your Robinhood app
  10. You’ll receive an emergency backup code from Robinhood that allows you to log in if you ever lose access to your device. Be sure to save this code in a secure place, such as within a password manager, saving a screenshot in a password-protected folder, or writing it down and locking it in a safe.
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How to send crypto

  1. Go to the crypto’s detail page
  2. Select Send
  3. Enter the amount you’d like to send
  4. Paste the crypto address of the receiving wallet
  5. Select ReviewSubmit
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Transfer limits and fees

Transfer limits: You can send up to $5,000 worth of crypto or make up to 10 transfers total in a 24-hour period.

Crypto bought on Robinhood using Instant cannot be withdrawn until those transactions settle, which can take approximately up to 5 business days.

Transfer fees: Every on-chain crypto transaction incurs a network fee— sometimes called a "miner fee" or "gas fee." The amount of the fee depends on, among other things, the coin and how many other transactions are happening on the coin’s network. We’ll always let you know what the network fee estimate is before you finalize a transfer out of your Robinhood Crypto account.

When you send a coin on Robinhood, we’ll estimate the network fee and add it to the amount you want to send. For example, if you send 100 DOGE and the network fee is 1 DOGE, a total of 101 DOGE is then sent to the network.

When you select the Send All option, the estimated network fee will be deducted from the total amount you send. For example, if you send all 100 DOGE in Robinhood Crypto account and the network fee is 1 DOGE, the recipient address will receive 99 DOGE.

ERC-20 transfer fees: You can transfer ERC-20 tokens, such as Chainlink (LINK), Compound (COMP), Polygon (MATIC), Shiba Inu (SHIB), and Solana (SOL).

When withdrawing ERC-20 tokens on the Ethereum blockchain, you pay the network fee in Ether (ETH). However, with Robinhood, you don’t need an ETH balance to complete an ERC-20 token transfer. Robinhood automatically calculates the ETH equivalent and debits your ERC-20 token balance directly. We’ll estimate the network fee and add it to the amount you want to send.

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How to receive crypto

Transfer crypto into your Robinhood account for our robust security, crime insurance, and commission-free trading.

  1. Go to the crypto’s detail page
  2. Select Receive
  3. Copy your crypto address
  4. Paste the address into the receiving wallet app

Supported coins

You can receive the following coins currently in Robinhood:

  • Bitcoin
  • Bitcoin Cash
  • Bitcoin SV
  • Chainlink
  • Compound
  • Dogecoin
  • Ethereum
  • Ethereum Classic
  • Litecoin
  • Polygon
  • Shiba Inu
  • Solana

Make sure you only transfer the coins listed above—any unsupported coins sent to your Robinhood account may be lost and the transactions are irreversible. This includes ERC-20 tokens and NFTs sent to a Robinhood Ethereum address.

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Transfer fees and timing

Transfer fees: We don’t charge any extra fees to receive crypto. Any transaction fees collected by a crypto network will be deducted from the sender’s crypto address.

Timing: We require a certain number of network confirmations before crypto is credited to your Robinhood account. The number of confirmations may vary depending on, among other things, network conditions. Under ordinary conditions, this process can take up to a few hours. We also review each transfer for security and safety reasons, which typically takes just a few minutes but on rare occasions can take up to 24 hours. We'll let you know in the app as soon as your crypto is available.

Keep in mind

Never send crypto back to a Robinhood address you received it from. The crypto address we use for withdrawals is not the same as your deposit address. Please only send crypto to your deposit address, which can be found by tapping Receive on each crypto detail page. Sending crypto to an incompatible address might result in a loss.

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Supported address formats for crypto withdrawals

Crypto can have different types of address formats depending on the receiving wallet.

Robinhood currently supports the following address formats for withdrawals. If you try to use an unsupported address format, your transaction will not be submitted. We’re working on adding support for additional address types.

  • Bitcoin (BTC): We currently support Bitcoin address formats that start with a “1” (P2PKH), “3” (P2SH) and “bc1q" (Native SegWit/Bech32). We do not currently support lightning network transactions or address formats that start with “bc1p” (taproot).

  • Ethereum (ETH), Chainlink (LINK), Compound (COMP), Polygon (MATIC), and Shiba Inu (SHIB): We currently support withdrawals to Ethereum addresses (EOA) and contract addresses (smart contracts).

  • Ethereum Classic (ETC): We currently support Ethereum Classic addresses that start with “0x” but please note that we do not currently support Ethereum Classic withdrawals to smart contracts. If you attempt to withdraw ETC to a smart contract you’ll receive an unsupported address error even if the address starts with “0x.”

  • Dogecoin (DOGE): We currently support Dogecoin addresses that start with “D” (P2PKH).

  • Litecoin (LTC): We currently support Litecoin address formats that start with an “L” (P2PKH), “M” (P2SH), and “ltc1" (Native SegWit/Bech32). We do not currently support P2SH addresses that begin with "3.”

  • Bitcoin Cash (BCH): We currently support Bitcoin Cash address formats that start with a “1” (Legacy P2PKH), or “q” (Cashaddr P2PKH). We do not support Bitcoin Cash address formats that start with “bitcoincash:q.” However, you can simply remove the “bitcoincash:” section of the address prefix and it will convert the address into a standard “q” address.

  • Bitcoin SV (BSV): We currently support Bitcoin SV address formats that start with “1” (P2PKH). We do not currently support Bitcoin SV address formats that start with “3” (P2SH).

  • Solana(SOL): We currently support withdrawals to Solana addresses (SOL).

Keep in mind

Only send crypto to the same blockchain (for example, only bitcoin can be sent to a Bitcoin address). In practice, Bitcoin (BTC) and Bitcoin Cash (BCH) share some of the same address formats, but sending bitcoin to a Bitcoin Cash address will likely result in a loss of funds.

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Why did my deposit address change?

Your deposit addresses can change for some of the crypto with Robinhood. We do this for privacy, so that a third party cannot easily associate your activity to your address.

The following coin addresses change each time you send a deposit.

  • BTC
  • BCH
  • BSV
  • LTC
  • DOGE

All deposit addresses we provide to you are unique and will remain attributed to your account permanently, meaning deposits sent to any previous deposit addresses will be credited if the deposit is accepted. However, we suggest using a new address for each deposit to Robinhood wherever possible for your financial privacy.

For ERC20, ETC, ETH, and SOL deposits, your deposit address will not change. This is because of the unique account-based model shared by these blockchains.

Get more information about address and QR code safety in Security best practices

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Tips for staying safe when transferring crypto

  1. Double check you’re transferring the right coin to the right address
  • Crypto addresses are only compatible with specific coins. For example, sending litecoin to a Bitcoin address will result in the loss of your litecoin. And since crypto transfers are irreversible, there’s no way to return the litecoin to the sender.
  • This also applies to coins that have similar names or symbols—sending ETC to an ETH address or sending BCH to a BSV address will result in the loss of those coins.
  • Also, sending unaccepted coins across a similar network will also not be credited or returned. This can include unsupported ERC20 tokens being sent to ETH or ETC receiving addresses.
  1. Double check you’re sending to the right wallet address
  • Crypto addresses are long strings of characters, which can make it difficult to distinguish one address from another. Getting even one character wrong can result in your crypto being lost.
  • When entering a wallet address, it’s recommended to copy and paste the address or scan a QR code. Avoid manually entering an address whenever possible.
  • It’s also a good idea to compare the crypto address you’ve entered with the address you intend to use. One way to do this is to compare the first and last 5 characters of the addresses to make sure they match.
  1. Watch out for QR code scams
  • Be careful using a QR code to scan a crypto address because it can lead you to fraudulent sites or phishing scams.
  • When using your Robinhood QR code to receive funds, always make sure the address scanned matches the address shown in your app.
  • When scanning a QR code outside of Robinhood, make sure you are only scanning QR codes from a trusted source. Also, make sure the full address matches the one you scanned and intended to send to.
  1. Double check how much crypto you’re transferring
  • Unlike dollars, crypto can be divisible into very small amounts. A bitcoin, for example, can be divided into eight decimal places. When entering an amount of crypto to transfer, double check your decimal places to make sure you’re transferring the intended amount.
  1. Double check the security of your crypto accounts
  • Enabling crypto transfers means your coins can be sent outside of Robinhood. Once crypto is sent out of your Robinhood account, the transaction can’t be reversed. This makes security incredibly important. Make sure you’re using a strong, unique password—we recommend using a password manager—and also checking the security settings of the device you’re using for two-factor authentication. For more information, check out Security best practices.
Keep in mind

Crypto transfers are irreversible and unauthorized activity can result in the loss of funds. By following the tips above, you can reduce the risk of loss due to account security issues.

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Reading your transaction in a block explorer

Each blockchain transaction has a unique identifier otherwise known as a transaction hash (TxID). When transferring crypto, we’ll provide you with a link that allows you to see the status of your transaction on the blockchain. This link goes to a third-party block explorer—a website that allows you to view your transactions’ live status on the blockchain.

When navigating a block explorer, you’ll want to make sure that the transaction hash you want to search matches the one shown on the explorer (if you select a block explorer link from Robinhood, your transaction will automatically be populated).

When looking at your transaction hash, the most relevant pieces of information are:

  1. The number of confirmations the transaction has received. This is a key indicator of approximately how long it will take until your transaction is finalized. We require crypto deposits to reach a certain number of blockchain confirmations before being credited to your account.

  2. The recipients of the transaction. If depositing crypto to Robinhood, one or more of the receiving addresses will be your address. If withdrawing, one or more of the receiving addresses will be the intended receiving party.

  3. The sender of the transaction. If depositing crypto into Robinhood, this will be your crypto address or that of a third party. If you are withdrawing from Robinhood, the sending address will show up on the blockchain as a Robinhood managed crypto address. Never send crypto back to a Robinhood crypto address that you received a withdrawal from. If you send crypto back to that listed address, the crypto will not reach your account. The address shown there is part of a safeguard to protect your assets.

Block Explorer Disclosure

Keep in mind

Not all senders and recipients (sometimes known as inputs and outputs) of a blockchain transaction will be you. Due to the way that many crypto trading platforms batch multiple withdrawals at a time, many transactions may be included in a single transaction hash.

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Crypto deposit processing times

Robinhood requires crypto deposits to reach a certain number of references (confirmations) on the blockchain, before being credited to your account.

Processing times for crypto deposits vary based on the type of crypto. The following lists the confirmation requirements by crypto type and an estimated completion time based on the respective blockchain.

  • Bitcoin (BTC): 6 confirmations (approximately 1 hour)
  • Ethereum (ETH), Chainlink (LINK), Compound (COMP), Polygon (MATIC), and Shiba Inu (SHIB): 30 confirmations (approximately 5 minutes)
  • Ethereum Classic (ETC): 1,200 confirmations (approximately 6 hours)
  • Dogecoin (DOGE): 20 confirmations (approximately 20 minutes)
  • Litecoin (LTC): 12 confirmations (approximately 30 minutes)
  • Bitcoin Cash (BCH): 15 confirmations (approximately 3 hours)
  • Bitcoin SV (BSV): 138 confirmation (approximately 24 hours)
  • Solana (SOL): 1 confirmation (approximately 5 minutes)
Note

The amount of confirmations required for a crypto deposit are subject to change. The actual processing times can vary from their estimates depending on the network’s status.

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FAQ

Do I have access to my private keys?

No. Our corporate crypto addresses secure all of our customers’ coins, so we don’t provide customers with the private keys to those addresses

How can I get my own keys?

If you want to secure your own crypto and have your own private keys, you can send your coins to an external non-custodial wallet.

Keep in mind that keeping your private keys secure is incredibly important—if someone accesses your private keys, they can access your crypto. If you forget or lose your private keys, there’s almost no way to recover them.

What happens if I send crypto that isn’t supported on Robinhood?

Any unsupported coins sent to a Robinhood crypto address may be lost with no way to reverse the transaction.

You should also avoid using the send address generated by Robinhood as a deposit address. For example, if you send BTC from your Robinhood account to a non-custodial wallet, the sender address used by Robinhood is associated with our operational crypto accounts and not necessarily your personal crypto account. If you try to send BTC back to that sender address, it might not be credited to your account.

Can I reuse crypto addresses?

When you receive crypto, the generated address is tied to only your account. While it’s possible to reuse that wallet address for future transactions, we recommend requesting and using a new address each time you receive crypto.

Is there a fee to send crypto?

We don’t charge any extra fees to send or receive crypto. However, every crypto transaction incurs a network fee—sometimes called a "miner fee" or "gas fee." The amount of the fee depends on the coin and how many other transactions are happening on the coin’s network. You'll see what the network fee is before you finalize a send transaction. Robinhood doesn't get any of the network fee—100% of that fee is collected by the crypto network that facilitates the transfer.

Can I sell crypto that I receive into my Robinhood account?

Yes. Once the transaction is verified, the coins will be credited to your account and you can sell, hold, or send them.

Do you support NFTs?

Not at this time. Any NFTs sent to a Robinhood Ethereum address may be lost and unrecoverable.

Do you support airdrops, forks, or ICOs?

Not at this time. If you want to participate in an airdrop, fork, or ICO, we recommend you send the associated coin(s) to an external wallet that supports them.

Do I need to hold Ether (ETH) to withdraw ERC-20 tokens from my account?

For ERC-20 tokens, such as Chainlink (LINK), Compound (COMP), Polygon (MATIC), Shiba Inu (SHIB), and Solana (SOL), you don’t need to hold Ether in your account balance to cover the network fee. Robinhood automatically calculates the ETH equivalent and debits your ERC-20 token balance directly.

Can I pay for the transfer using my ETH balance?

No, you can't pay for the transfer using your ETH balance.

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Disclosures

All investments involve risk and loss of principal is possible. Investors should consider their investment objectives and risks carefully before investing.

See our Customer Agreement ("Customer Agreement") related to fractional shares.

This is not investment advice, a recommendation, an offer to sell, or a solicitation of an offer to buy any security or crypto.

Crypto trading is offered through an account with Robinhood Crypto (NMLS ID 1702840).

Trading in crypto comes with significant risks, including volatile market price swings or flash crashes, market manipulation, and cybersecurity risks. In addition, crypto markets and exchanges are not regulated with the same controls or customer protections available in equity, option, futures, or foreign exchange investing. Several federal agencies have also published advisory documents surrounding the risks of virtual currency. For more information, see the Robinhood Crypto Risk Disclosure, the CFPB's Consumer Advisory, the CFTC’s Customer Advisory, the SEC’s Investor Alert, and FINRA’s Investor Alert.

Reference No. 2304318
Still have questions? Contact Robinhood Support