Robinhood Crypto

Robinhood Crypto is a U.S. custodial brokerage for buying, selling, holding, sending and receiving supported coins under the same consumer investing brand used for stocks and options. Its particular significance is a retail crypto account that can move coins on-chain while remaining integrated with the wider Robinhood relationship.

Two order-routing models in one brokerage app

Robinhood's default app route sends crypto orders to market makers, with no separate platform fee but a bid-ask spread that includes market-maker compensation. For certain assets, eligible customers can instead choose exchange routing through partner exchanges; that route uses published 30-day-volume fee tiers, from 0.00% to 0.95%.

The choice is not uniform across Robinhood interfaces. Robinhood Legend, the mobile ladder and most eligible advanced-chart orders use exchange routing, while web classic uses market-maker routing. A limit or stop-limit order on the exchange route can rest on one order book, so price control does not mean that resting order draws on every partner exchange's liquidity.

Custodial coins with a route to Robinhood Wallet

Robinhood manages keys for the crypto brokerage account and says it keeps most customer coins in cold storage. Customers can deposit and withdraw supported assets, though withdrawal limits depend on the account and transfer access requires identity verification. Outgoing transfers include the estimated network fee, while Robinhood does not charge an additional platform fee to send or receive crypto.

Robinhood Wallet is a separate self-custody app. Sending a supported coin from Robinhood Crypto to that wallet changes who controls the keys, whereas keeping the balance in the brokerage account leaves custody with Robinhood.

Address allowlisting and U.S.-specific access

Address allowlisting restricts withdrawals to approved external addresses. A newly added address has a 48-hour maturation period, during which withdrawals to it are paused; that slows an immediate transfer but adds protection if an account is taken over.

Robinhood Crypto is a U.S. product, and state rules can change asset and routing availability. For example, exchange routing is unavailable to North Carolina residents, while some listed tokens have state-specific trading limits.

A consumer-brokerage alternative to Interactive Brokers

Interactive Brokers is the closer choice for an investor who wants crypto with bonds, funds, CME futures and other professional multi-asset tools. Robinhood is more centered on U.S. retail spot trading, external transfers and its two routing models; IBKR links spot trading to Paxos or Zero Hash and separates direct coins from ETP, futures and futures-options exposure.

Coinbase Advanced offers a more crypto-first order-book environment and a larger spot-pair focus. Robinhood's different appeal is keeping crypto under a familiar retail investing account, even though crypto itself remains a distinct custodial account with its own transfer and trading rules.