Here are a few things to know about investing with Robinhood Crypto!
To help against dramatic price moves, we adjust market orders to limit orders collared up to 1% for buys, and 5% for sells. Collars are based off the last trade price. This means that your order won’t execute if the price of the cryptocurrency 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 canceled.
The market data displayed in this demo is not real time.
A limit order is an order placed to buy or sell a specified amount at a specified price or better.
The market data displayed in this demo is not real time.
Limit Orders (placed in USD):
Limit Orders (placed in fractional amounts):
Limit orders aren’t guaranteed to execute. Your limit buy order will only execute if the cryptocurrency meets or falls below your limit price, and your limit sell order will only execute if the cryptocurrency meets or goes above your limit price.
You can switch between placing trades in fractional amounts of the cryptocurrency and placing trades in dollar amounts by tapping Amount in USD or **Amount in BTC/ETH/LTC/BCH/DOGE/ETC/BSV **on the order screen.
You don’t have to buy full coins on Robinhood. You can place an order to buy or sell cryptocurrencies at fractional amounts.
The position limit for cryptocurrencies is a $5,000,000 cost basis per coin.
You can add a cryptocurrency to your Watchlist in your iOS app:
You can add a cryptocurrency to your Watchlist in your Android app:
You can also add a cryptocurrency to your Watchlist in your web app:
You can see the estimated buy or sell price for a cryptocurrency in your mobile app:
You can also see the estimated buy or sell price for a cryptocurrency in your web app on the order panel.
The difference between the estimated buy and sell price is called the spread. The size of the spread is a measure of the liquidity of the market, or how quickly and easily you can convert between cash and this cryptocurrency. Typically, if more people are trading a cryptocurrency, it'll be easier to find someone willing to trade with you. This is why you may see smaller spreads for better known cryptocurrencies like Bitcoin, and larger spreads for lesser known cryptocurrencies.
You can trade crypto 24/7 on Robinhood Crypto, with some exceptions like scheduled maintenance.
Scheduled maintenance happens at the same time every day, from approximately 5:29 PM – 5:40 PM ET and 11:57 PM – 12:09 AM ET. We set aside this time to add features, fix bugs, and make Robinhood Crypto easier and faster to use.
During these maintenance windows, you can still place crypto trades but some pending limit orders may not execute until the maintenance window has ended.
We also periodically schedule maintenance windows that may occur at different times, and may affect the placing or executing of orders. For all scheduled maintenance windows, you’ll be notified in the app beforehand.
You don’t have to worry about day trading limits on cryptocurrencies because they’re not regulated by FINRA or the SEC like stocks and options.
However, if your Robinhood Financial account is flagged for Pattern Day Trading, and the purchase of a cryptocurrency would cause the value of your stocks and cash to dip below $25,000, we may prevent you from placing the trade. For example, if your account value is $25,500 and you want to place a $600 buy order for Bitcoin, we’ll ask you to deposit more funds. This is because placing the order for $600 for bitcoin would drop your account down to $24,900.
Your cryptocurrency assets aren’t part of your Robinhood Financial account. Your brokerage account is with Robinhood Financial LLC and allows trading of stocks, ETFs and options, while cryptocurrency trading is done through an account with Robinhood Crypto, LLC. Robinhood Crypto is licensed to engage in virtual currency business activity by the New York State Department of Financial Services, as well as a number of other state money service business regulators. Robinhood Crypto is not a member of the Financial Industry Regulatory Authority (FINRA) or the Securities Investor Protection Corporation (SIPC). Cryptocurrencies are not stocks and your cryptocurrency investments are not products protected by either FDIC or SIPC. Robinhood Financial, LLC and Robinhood Crypto, LLC are wholly-owned subsidiaries of Robinhood Markets, Inc.
For these reasons, you can trade cryptocurrencies on Robinhood with a Cash, Instant, or Gold account.
If your Robinhood Financial account is restricted for any reason, your Robinhood Crypto account may also be restricted. You will not be able to trade cryptocurrencies until the restriction on your Robinhood Financial account is lifted.
Your cryptocurrency assets are held in your Robinhood Crypto account, not your Robinhood Financial account, so they’re treated as non-marginable, with a maintenance requirement of 100%. This means your cryptocurrencies need to be backed entirely by cash, and can’t serve as collateral for equities positions.
You’ll receive the proceeds from your sales to purchase stocks, options, or other cryptocurrencies immediately. However, the ACH settlement period still applies when you withdraw the funds from your Robinhood Crypto account to your bank account. This means you won’t be able to withdraw the proceeds from your sales for five business days.
Funds from stock, ETF, and options sales become available for buying crypto within 3 business days. However, limited cash deposits and all proceeds from crypto sales are available to instant accounts immediately.
We calculate cost basis on a First-In-First-Out (FIFO) basis. This means we’ll sell your cryptocurrencies in the order you bought them.