Robinhood Crypto / $0 Commissions Fee Trading and Start With a $1

Robinhood Crypto review quick take: Buy and sell cryptocurrency with zero commission fees and start with $1.

What is Robinhood Crypto?

Robinhood Crypto is a commission-free trading platform that offers zero transaction fees, security features, and interactive tools.

Start investing in Cryptos with as little as $1

What is Cryptocurrency?

As defined by Robinhood: “Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status.”

How does Robinhood Crypto work?

Robinhood Crypto offers the same intuitive and user-friendly mobile app for cryptocurrency exchange. Through the app, you can:

• You can buy and sell cryptocurrencies such as Bitcoin, ethereum, dogecoin, litecoin, Bitcoin Cash, Bitcoin SV, and Ethereum Classic.
• Have ownership over your coins: “Robinhood believes you’re the legal owner of the crypto. You have all the rights and benefits of ownership, including the rights to appreciation and depreciation of the crypto.”

It’s vital to understand that crypto trading involves a substantial risk of loss. It’s not a suitable investment for every person, and due to crypto market volatility, you may lose all of your original investments.

Key Features

Robinhood Crypto can help you invest in cryptocurrencies and diversify your investment portfolio.

• Trading: buy, sell, or exchange various crypto coins.
• Fractional Shares: buy fractions of cryptos with as little as $1.
• Instant Deposits: with Robinhood Instant, you can access funds up to $1,000 to trade cryptos.
• Wallet: coins stored in a mix of cold wallets and hot wallets.
• Transfers: Send crypto to Robinhood or send crypto from your Robinhood account to other crypto wallets.

Robinhood Crypto is not a member of FINRA. The SIPC does not protect cryptocurrency investments through Robinhood Crypto. 

New users who open a new brokerage account get a free stock bonus.

Pros and Cons

Pros

• Buy cryptos with as little as $1.
• Place limit orders.
• Fractional shares of cryptocurrencies.
• Simple fee structure – $0 trading fees.
• 24/7 customer service is available via live phone support.

Cons

• Unable to move your crypto unless sold.
• No digital wallet.
• You can’t buy crypto with a credit or debit card.

Account Minimums

• No minimum deposit is required.
• No need to keep a specific amount in the account.

Fees

• Zero commission trading fees.
• Other fees may apply.

Who is it best for?

The Robinhood Crypto exchange is best for beginner investors in the crypto space.

Robinhood Crypto Review

In our Robinhood Crypto review, we learned that trading crypto coins is as easy as trading stocks on the stock investment platform. Robinhood Crypto lacks a crypto wallet and provides no investment advice. However, the app’s user-friendly interface reaches a broader range of users. We like the simple fee structure—no trading fees. It’s a good beginner choice for investors looking to make their first entry into crypto trades.

Robinhood Crypto is a legitimate company and not a scam. Although the Media has not portrayed it favorably, it currently has a 20 million active user base. It currently has a low rating on Trustpilot but has over 4 million reviews on the App Store with an average rating of 4.2 of 5 stars.

You can get started with Robinhood Crypto here.

How to Start a Robinhood Crypto Account

You must have a Robinhood stock app to access cryptocurrencies. With Robinhood, you can trade stocks exchange-traded funds along IPO Access, trade fractional shares, automate investing, and opt to reinvest dividends.

Requirements

• Be 18 years or older.
• Social security number.
• Legal US residential address.
• US Citizen, permanent resident, or have a valid US visa.

Step-by-step to Start Crypto Trading

The time needed: 3 minutes.

1. Get started
   • Create an account by clicking on the link here.
   • Or, if you’re an existing Robinhood user, go directly to the app.
2. Submit an application
   • Legal first and last name, email address, residential address
3. Wait for approval
   • Additional documents may be requested for identity verification. All instructions will be made available to you.

Robinhood Crypto Alternatives

Some Robinhood Crypto Alternatives include Webull Pay and Public.com. For more experienced traders, alternative crypto exchanges like Coinbase or Crypto.com may be best.