NFTs | Robinhood

NFTs

Non-fungible tokens (NFTs) are crypto assets on a blockchain with special identification codes and metadata that can’t be replicated. NFTs differ from “fungible” crypto because they aren’t traded or exchanged equally.

Note

Currently, you can only receive and store NFTs with Robinhood Wallet. We’re working on support for sending NFTs in the future.

Receive NFTs

You can receive NFTs on the Polygon and Ethereum networks.

  1. HomeMenuReceive
  2. Scan the QR code or enter the address manually
  3. Send to My Wallet

Managing NFT visibility

You have control over which NFTs are visible in your wallet, and can easily hide or unhide any NFT or NFT collection that you don’t want to see, including spam NFTs.

  1. HomeNFTsMenu (...)
  2. Select Manage NFT visibility
  3. To hide a collection, tap and hold, select Hide all NFTs in this collection
  4. To hide an individual NFT in a collection, tap the collection and turn the toggle off next to each NFT you want to hide
  5. For NFTs not in a collection, turn the toggle off next to the NFT

Protect yourself from NFT scams

As NFTs gain popularity, scams are becoming more common. Scammers have come up with sophisticated ways to convince you to transfer your NFTs, or to sign malicious contracts that give them permission to access your wallet.

Here are some popular NFT scams to look out for:

  • Counterfeit NFTs that look like authentic or popular NFTs, which hold no actual value and are designed solely to steal your crypto.
  • Fake marketplaces, social media accounts, giveaway offers, and unsolicited airdropped NFTs. These usually contain phishing links designed to get your personal or sensitive wallet information–like your secret recovery phrase. Others are embedded with malicious smart contracts designed to give the scammer access to your NFTs or entire wallet.
  • Pump-and-dump schemes where scammers rapidly and artificially inflate the price of an NFT and then sell the NFT to you when the value is high, leaving you stuck with an NFT that has little-to-no real value.
  • Rug-pull schemes where scammers attract investors, but then abandon the project and disappear with project funds.

To keep your NFTs, wallet, and data secure, we suggest taking the following precautions:

  • Never share your secret recovery phrase with anyone. We will never ask you for your secret recovery phrase outside of the Robinhood Wallet app.
  • Be wary of suspicious phishing, social engineering, and scam attempts. This includes airdrops, emails, text messages, social media messages, and fraudulent websites that ask for your personal information, contain unexpected NFTs, offer financial advice, etc. When in doubt, verify the authenticity of any request before taking action.
  • Before signing a transaction with your wallet, make sure to check the transaction details. It’s possible for scammers to access your funds if you sign a transaction, so only approve transactions if you trust the sender.
  • Only transact with entities and individuals that you know and trust. This includes connecting to dapps, interacting with NFTs, sending and receiving NFTs, and so on.
  • Do your research. Review the transaction history of an NFT before interacting with it, cross-check NFT prices, and review the collection information.

In general, it's a good rule of thumb to always proceed with caution when interacting with NFTs, marketplaces, giveaways, and websites. If something sounds too good to be true or seems suspicious, it probably is.

For more information on phishing and crypto scams, check out how to identify and report scams.

Disclosures

Self-custody cryptocurrency wallet and related services are offered through Robinhood Non-Custodial, Ltd., a limited company organized in the Cayman Islands, and other third-party providers. Cryptocurrency held through the Robinhood Self-Custody Wallet is not FDIC insured or SIPC protected. Availability may be subject to regulatory approval in certain jurisdictions.

Crypto rewards terms & conditions.

© 2023 Robinhood Non-Custodial, Ltd. Robinhood®. All rights reserved

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All investing involves risk.

Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). Review a list of RHC licenses for more information.The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Review a list of our licenses for more information. Credit card products are offered by Robinhood Credit, Inc. ("RCT") (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.

The Robinhood Cash Card is a prepaid card issued by Sutton Bank, Member FDIC, pursuant to a license from Mastercard® International Incorporated. Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.

RHF, RHY, RHC, RCT, and RHS are affiliated entities and wholly owned subsidiaries of Robinhood Markets, Inc. RHF, RHY, RHC, RCT, and RHS are not banks. Products offered by RHF are not FDIC insured and involve risk, including possible loss of principal. RHC isn’t a member of FINRA and accounts are not FDIC insured or protected by SIPC.

RHY is not a member of FINRA, and products are not subject to SIPC protection, but funds held in the Robinhood spending account and Robinhood Cash Card account may be eligible for FDIC pass-through insurance (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement).

Options trading entails significant risk and is not appropriate for all customers. Customers must read and understand the Characteristics and Risks of Standardized Options before engaging in any options trading strategies. Options transactions are often complex and may involve the potential of losing the entire investment in a relatively short period of time. Certain complex options strategies carry additional risk, including the potential for losses that may exceed the original investment amount.

Commission-free trading of stocks, ETFs and options refers to $0 commissions for Robinhood Financial self-directed individual cash or margin brokerage accounts that trade U.S. listed securities and certain OTC securities electronically. Keep in mind, other fees such as trading (non-commission) fees, Gold subscription fees, wire transfer fees, and paper statement fees may apply to your brokerage account. Please see Robinhood Financial's Fee Schedule to learn more.

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