Crypto investing

Here are a few things to know about investing with Robinhood Crypto.

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Market orders

To help against dramatic price moves, we adjust market orders to limit orders collared up to 1% for buys, and 5% for sells. This means that your order won’t 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 don't execute after 2 minutes may be automatically canceled.

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Limit orders

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

Limit Orders (placed in USD):

  • Buy: You’ll never pay more than the USD amount you enter to purchase a specified amount of a crypto, rounded up to the nearest cent.
  • Sell: You’ll 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’ll always receive the exact amount of crypto you entered in the order. The limit price for crypto buy orders is the maximum amount in USD you pay for a specified amount of crypto, potentially rounded up to the nearest cent.
  • Sell: You’ll always sell the exact amount of crypto you entered in the order. The limit price for crypto sell orders is the minimum amount in USD you’re willing to receive for a specified amount of crypto, potentially rounded down to the nearest cent.
Note

Limit orders aren’t guaranteed to execute. Your limit buy order will only execute if the crypto meets or falls below your limit price, and your limit sell order will only execute if the crypto meets or goes above your limit price.

Tip

You can switch between placing trades in fractional amounts of the crypto and placing trades in dollar amounts by selecting Amount in USD or Amount in BTC, ETH, LTC, BCH, DOGE, ETC, BSV on the order screen.

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Order sizes

You don’t have to buy full coins on Robinhood. You can place an order to buy or sell crypto at fractional amounts.

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Position limits

Position limits refer to the maximum amount of a crypto that you can buy and hold using Robinhood Crypto. You can find the position limits for crypto below. Please note, position limits are subject to change at Robinhood Crypto’s discretion.

The position limit for Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) is a maximum cost basis of $16,000,000 per crypto.

The position limit for Bitcoin Cash (BCH), Bitcoin SV (BSV), Litecoin (LTC), & Ethereum Classic (ETC) is a maximum cost basis of $5,000,000 per crypto.

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 may exceed your position limits based on market fluctuations affecting crypto prices.

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Adding crypto to your watchlist

iOS or Android

You can add crypto to a watchlist and customize lists in your app:

  1. Select the magnifying glass
  2. Search for the crypto name or symbol.
  3. Tap + to add it
  4. Choose a list
Web
  1. In the Search bar, type the crypto name or symbol
  2. Select Add to Lists
  3. Choose a list
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Estimated buy and sell price

You can see the estimated buy or sell price for a crypto in the app:

  1. Go to the Detail page for the crypto
  2. Tap Buy or Sell
  3. You'll see the estimated buy or sell price

You can also see the estimated buy or sell price for a crypto on the web app on the order panel.

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Why is the estimated buy price different from the estimated sell price?

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 crypto. Typically, if more people are trading a crypto, it'll be easier to find someone willing to trade with you. This is why you may see smaller spreads for better known crypto like Bitcoin, and larger spreads for lesser known crypto.

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Trading times

You can trade crypto 24/7 on Robinhood Crypto, with some exceptions like scheduled maintenance.

We periodically schedule maintenance windows that can occur at different times, and might affect the timing of the trade.

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Pattern Day Trading

You don’t have to worry about day trading limits on crypto because they’re not regulated by FINRA or the SEC like stocks and options.

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Robinhood Crypto and Robinhood Financial

Your crypto 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).

Crypto aren't stocks and your crypto 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 crypto 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 won't be able to trade crypto until the restriction on your Robinhood Financial account is lifted.

Keep in mind

Your crypto 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 crypto needs to be backed entirely by cash, and can’t serve as collateral for equities positions.

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Instant crypto settlement

You’ll receive the proceeds from your sales to purchase stocks, options, or other crypto 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 5 business days.

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Crypto buying power

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.

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Cost basis

We calculate cost basis on a First-In-First-Out (FIFO) basis. This means we’ll sell your crypto in the order you bought them.

Reference No. 945188, 2423100
Still have questions? Contact Robinhood Support