With Robinhood crypto wallet, you can transfer your crypto into and out of your Robinhood Crypto account in a few taps.
This means you can consolidate your coins into one account so it’s easier to track your portfolio, move supported coins into your Robinhood account so you can trade those coins commission-free, and more.
Activating crypto wallets
Crypto’s decentralized nature means there’s a greater need for security to ensure that you—and only you—can transfer coins into or out of your Robinhood Crypto account.
To enable crypto wallets, you’ll need to verify your identity and add two-factor authentication to your account. Once you complete those steps, it may take approximately up to five business days to review your info and enable crypto wallets.
Verifying your identity
Verify your identity using:
A photo of your government-issued ID: Acceptable forms of ID include a driver’s license, state ID, passport, passport card, or permanent resident card.
A live photo of yourself: You may be asked to take a selfie using your smartphone or webcam. Make sure you’re in a well-lit place to take your photo.
Adding two-factor authentication
Two-Factor Authentication (2FA) provides an additional layer of security to your account. 2FA is more secure because it requires two sources of verification: something you know (your password) and something you have (the code you generate or receive on your device). It’s much harder for attackers to gain access to both of these, and it can help protect you in case an attacker learns your password.
To enable crypto wallets, you’ll need to confirm your phone number and email address, and also set up a 2FA authenticator app like Authy, Duo Mobile, or Google Authenticator.
Confirming your phone number: We’ll send a code via text message to the phone number linked to your Robinhood account. Enter the code you receive to confirm your phone number.
Verifying your email address: We’ll send an email to the email address associated with your Robinhood account. Click the link in the email to confirm your email address.
Setting up an authenticator app: First, you’ll need to download an authentication app—we support many major third-party apps.
Here are a few we support:
Next, enable 2FA in your Robinhood app:
- Tap the Account (person) icon in the bottom right corner
- Tap the three bars in the top right corner
- Tap Settings
- Under Security, tap Two-Factor Authentication
- Toggle the feature to the On position
- Tap the authentication app you’d like to use
- Tap Open App to add your key to the authentication app
- Open your authentication app, and confirm that you’d like to add Robinhood
- Copy the verification code generated by your authentication app and paste it into Robinhood when you’re prompted.
- You’ll receive an emergency backup code from Robinhood that allows you to log in if you ever lose access to your device. We recommend saving this code in a secure place, such as within a password manager, saving a screenshot in a password-protected folder, or writing it down and locking it in a safe.
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If you ever lose your phone, you can use this backup code instead of the one we would send you via SMS. We recommend saving this code in a safe and secure place, such as saving a screenshot in a password-protected folder or writing it down and locking it in a safe.
How to send crypto
Whether this is your first time transacting on the blockchain or your hundredth, here’s some helpful info.Mobile
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Transfer limits: You can send up to $5,000 worth of crypto or make up to 10 transfers total in a 24-hour period.
Crypto bought on Robinhood using Instant cannot be withdrawn until those transactions settle, which can take approximately up to 5 business days.
Transfer fees: Unlike other crypto platforms, we don’t charge any extra fees to send or receive crypto. However, every on-chain crypto transaction incurs a network fee—sometimes called a “miner fee” or “gas fee”. The amount of the fee depends on the coin and how many other transactions are happening on the coin’s network. We’ll always let you know what the network fee is before you finalize a transfer out of your Robinhood Crypto account on the confirmation page.
When you send a coin on Robinhood, we’ll calculate the network fee and show you the amount to be added to your transfer. For example, if you want to send 100 DOGE and the network fee is 1 DOGE, the recipient wallet will receive 100 DOGE, the network miners will receive 1 DOGE, and your account will be deducted the sum total 101 DOGE.
We don’t receive the network fee—100% of that fee is collected by the cryptocurrency’s network to facilitate the transfer.
How to receive crypto
Receive crypto into your Robinhood account for our robust security, crime insurance, and commission-free trading.Mobile
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Supported coins
You can receive coins that are tradable on Robinhood, including:
- Bitcoin
- Bitcoin Cash
- Bitcoin SV
- Dogecoin
- Ethereum
- Ethereum Classic
- Litecoin
Make sure you only transfer the coins listed above—any unsupported coins sent to your Robinhood account may be lost and the transactions are irreversible. This includes ERC-20 tokens sent to a Robinhood Ethereum address.
Transfer fees: Similar to sending crypto, we don’t charge any extra fees to receive crypto. Any transaction fees collected by a cryptocurrency’s network will be deducted from the sender’s wallet address.
Timing: We require a certain number of network confirmations before crypto is credited to your Robinhood account. The number of confirmations may vary depending on, among other things, network conditions. Under ordinary conditions, this process can take up to a few hours. We also review each transfer for security and safety reasons, which typically takes just a few minutes but on rare occasions can take up to 24 hours. We’ll let you know in the app as soon as your crypto is available.
Tips for transferring crypto
Double check you’re transferring the right coin to the right address
- Wallet addresses are only compatible with specific coins. For example, sending litecoin to a Bitcoin address will result in the loss of your litecoin. And since crypto transfers are irreversible, there’s no way to return the litecoin to the sender.
- This also applies to coins that have similar names or symbols—sending ETC to an ETH address or sending BCH to a BSV address will result in the loss of those coins.
Double check you’re sending to the right wallet address
- Wallet addresses are long strings of characters, which can make it difficult to distinguish one address from another. Getting even one character wrong can result in your crypto being lost.
- When entering a wallet address, it’s recommended to copy and paste the address or scan a QR code. Avoid manually entering an address whenever possible.
- It’s also a good idea to compare the wallet address you’ve entered with the wallet address you intend to use. One way to do this is to compare the first and last 5 characters of the wallet addresses to make sure they match.
Double check how much crypto you’re transferring
- Unlike dollars, cryptocurrencies can be divisible into very small amounts. A bitcoin, for example, can be divided into eight decimal places. When entering an amount of crypto to transfer, double check your decimal places to make sure you’re transferring the intended amount.
Double check the security of your crypto accounts
- Enabling crypto transfers means your coins can be sent outside of Robinhood. Once crypto is sent out of your Robinhood account, the transaction can’t be reversed. This makes security incredibly important. Make sure you’re using a strong, unique password—we recommend using a password manager—and also check the security settings of the device you’re using for two-factor authentication. For more security tips, check out this Help Center article.