You may not have access to Robinhood Wallet if you have an Android device, because it’s only available on iOS right now. However, Robinhood Wallet is coming to Android soon — join the waitlist.
You may also not be able to access Robinhood Wallet if you reside in a jurisdiction sanctioned under US law.
A secret recovery phrase is a series of words generated by your wallet and is the only way to recover access to your wallet if you lose or reset your device. It’s important to keep your secret recovery phrase stored in a safe place and never share it with anyone.
To find your recovery phrase:
While a secret recovery phrase recovers access to your wallet, a private key is used to create a verified digital signature that allows you to make transactions and prove ownership of a blockchain address.
A decentralized exchange (DEX) is a marketplace where you can swap crypto directly with others—without a middleman to facilitate the transfer and custody of funds. Rather than a middleman, a DEX uses smart contracts (self-executing computer code) to execute swaps on the blockchain.
No, Robinhood doesn’t charge fees at this time. However, there may be network fees or other third-party service fees for certain transactions while using Robinhood Wallet.
Network fees, or gas fees, are transaction processing fees. These required fees are submitted to the network along with your transaction. Fees fluctuate based on the volume of transactions, confirmation speed, and transaction size for that network.
Network fees may apply for the following:
Robinhood Wallet doesn’t collect any part of the network fee.
At this time, you can only swap crypto that are both compatible with the Polygon network and supported by 0x API, a DEX aggregator. However, you can send and receive tokens, and connect to dapps on both the Polygon and Ethereum networks.
You can only swap crypto for other crypto on the same network. Swapping crypto cross-chain, or bridging, isn’t available at this time.
Generally, wrapped tokens make it possible to use crypto from one blockchain on a different blockchain. Because blockchains are separate systems, they can’t easily communicate with each other. Wrapped tokens solve for this incompatibility.
Wrapping a token is essentially swapping one token for another token in an equal amount via Smart contract, or code on the blockchain that can store and send funds. Many smart contracts adhere to a specific format— the ERC-20 token standard. For example, the native ETH token doesn’t adhere to that standard, so it needs to be “wrapped” to an equivalent amount of WETH in order to be tradable — like converting a dollar to quarters to use them in a pinball machine.
You can swap wrapped tokens safely in your Robinhood Wallet. Learn more about wrapped tokens and how they work.
While wrapped tokens (like WETH) are separate from the unwrapped token (ETH) in Robinhood Wallet, some dapps don’t differentiate them.
When you swap a token for the first time, you approve it to be swapped by 0x API, a decentralized exchange (DEX). A DEX requires the use of smart contracts to enable the swapping of crypto on the blockchain. Token approvals help protect your crypto from being accessed by a smart contract without your permission. You’ll only need to approve a token once in order to swap it.
You can review your transaction history in the app by selecting Activity on your wallet dashboard.
You can also see your transaction history by using a blockchain explorer, such as Polygonscan and Etherscan. You can search your transaction history with the crypto address, transaction ID, block, or token.
If you send crypto to the wrong blockchain address or to an incompatible network, that crypto is lost and not recoverable. Make sure to always double check the address before sending to a new address, and only send crypto to people and entities you know and trust.
Transactions may be pending or unconfirmed because of the volume of transactions, confirmation speed, and transaction size for that network.
If a swap transaction fails, it may be due to an error on the part of the decentralized exchange (DEX).
To be eligible for a reward, you need to deposit one of the following supported crypto into Robinhood Wallet over Ethereum, Bitcoin, Dogecoin, Polygon, Arbitrum or Optimism in a single transaction and meet any other requirements to be eligible. List of supported crypto is subject to change.
|ENS||Ethereum Name Service|
|WAVAX||Wormhole Wrapped AVAX|
|WFTM||Wormhole Wrapped Fantom|
|YGG||Yield Guild Games|
Make sure you back up your wallet before removing or resetting your device. You can restore your wallet and regain access by importing your wallet with its secret recovery phrase or recovering your wallet from its iCloud backup. Just remember, if your wallet isn’t backed up already, you’ll permanently lose access to it on that device.
Sardine is a crypto on-ramp you can use if you’re outside of the US and want to buy crypto with a debit or credit card (where available).
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.