How to Buy Crypto with Robinhood
Learn how to buy Crypto with the Robinhood App and whether their product stacks up against alternatives in the US.
Cryptocurrency is offered by eToro USA LLC (“the MSB”) (NMLS: 1769299) and is not FDIC or SIPC insured. Investing involves risk.
Summary: Robinhood offers a convenient mobile app that allows users to invest in a variety of over 18 cryptocurrencies. While it promotes a no-commission model, Robinhood does have spreads that can go up to 1.5% per transaction, making it a pricier option within the industry.
For those in the United States looking for a more cost-effective and diversified investment platform, eToro emerges as a better alternative. As a fully licensed and regulated broker, eToro provides access to the top crypto assets with zero fees and competitive spreads around 1%, making it a more appealing option for those looking to engage in crypto trading.
Can I Buy Crypto with Robinhood?
Yes, Robinhood provides an avenue for buying and selling a range of digital currencies via its dedicated Crypto app. The platform supports more than 18 different digital assets, featuring popular options like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX), along with a variety of lesser-known altcoins.
However, investors must be aware that while Robinhood may advertise no commission fees, the spreads on transactions can go as high as 1.5%. Consequently, this makes Robinhood one of the pricier cryptocurrency exchanges in the United States to invest in the asset class.

How to Buy Cryptocurrency with Robinhood
or those interested in a user-friendly way to dive into cryptocurrencies, Robinhood presents a US-compliant option that aligns with regulatory standards. The platform allows for quick and easy funding methods, including linking your bank account or using a debit card. While we often recommend eToro for its lower fees and diverse range of assets, Robinhood does provide a straightforward experience for newcomers to the crypto scene.
Here's how to start investing in crypto through Robinhood:
- Navigate to the Robinhood website and complete the required identity verification.
- Find the 'Add Funds' option, usually located on the main dashboard screen.
- Input the amount in USD you intend to add to your account and choose how you'd like to fund it—either through a bank link or debit card.
- Follow the on-screen instructions to finish the deposit.
Once your funds are available, you're all set to explore and invest in an array of digital currencies.

What are the Available Coins?
Robinhood Crypto serves as a user-friendly platform where individuals can purchase, sell, and view real-time data on a diverse range of digital assets. Here's a breakdown of the cryptocurrencies you can currently find on Robinhood Crypto:
- Aave (AAVE)
- Avalanche (AVAX)
- Bitcoin (BTC)
- Bitcoin Cash (BCH)
- Cardano (ADA)
- Chainlink (LINK)
- Compound (COMP)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Ethereum Classic (ETC)
- Litecoin (LTC)
- Polygon (MATIC)
- Shiba Inu (SHIB)
- Solana (SOL)
- Stellar Lumens (XLM)
- Tezos (XTZ)
- Uniswap (UNI)
- USD Coin (USDC)
It's important to be aware that the availability of these cryptocurrencies for trading may vary by state. Regulatory approval for specific coins could also limit their trading in certain regions.
Robinhood Crypto Fees
Robinhood is widely recognized for its no-commission trading, a feature that also applies to its cryptocurrency transactions. This means you can buy and sell digital assets without being charged explicit commission fees. However, it's crucial to understand that Robinhood generates revenue through spreads, which could affect your overall trading costs.
A spread refers to the gap between the buying (bid) and selling (ask) prices for a particular asset, such as Bitcoin. On Robinhood Crypto, these spreads can go up to 1.5% for each transaction. When compared to platforms that offer narrower spreads, Robinhood emerges as one of the costlier choices for cryptocurrency trading.
Is Robinhood Good for Crypto?
While Robinhood does offer a convenient, user-friendly platform for entering the crypto market, it may not be the optimal choice for US investors looking for comprehensive crypto exposure. The platform has relatively high spreads, reaching up to 1.5% per transaction, and supports a limited range of 18 digital assets. These constraints could make Robinhood less appealing compared to platforms with lower fees and a more extensive selection of cryptocurrencies.
For those seeking a superior alternative, eToro stands out as a more versatile and cost-effective option. With its competitive fee structure, wider array of crypto assets, and robust security measures, eToro offers a more comprehensive solution for investors aiming to safely diversify their crypto portfolios in the United States.
Does Robinhood Offer a Crypto Wallet?
Yes, Robinhood has introduced its own self-custody wallet, known as the Web3 Wallet. This wallet acts as an entry point to the web3 ecosystem and allows users to perform crypto swaps on the Polygon network without incurring network fees. Through Robinhood Wallet, users attain complete control over their digital assets on both the Polygon and Ethereum networks, as they are responsible for their own private keys. The platform has plans to integrate additional networks into Robinhood Wallet in the foreseeable future.

Bottom Line
In summary, while Robinhood offers a user-friendly platform for crypto trading, it comes with the drawback of relatively high spreads, which can reach up to 1.5%. This makes it a costlier option for U.S. investors compared to other platforms like eToro, which not only offers more competitive spreads but also provides access to a wider array of cryptocurrencies.
Furthermore, eToro is a fully licensed and regulated platform, ensuring a higher level of security for your investments. Therefore, for those seeking a more diversified and cost-effective crypto trading experience, eToro emerges as a more advantageous choice.