Robinhood Crypto review: a clean, licensed broker app with spread-based pricing, a long enforcement record and weak support.
Twentieth in our Crypto Centralized Exchanges series. Robinhood Crypto is the crypto arm of a US-listed broker, regulated in the US, the EU and the UK, with an app that puts crypto beside stocks, ETFs and futures. It also embeds an estimated 0.95% rebate in the default spread, shows no ongoing proof of reserves, sits inside a group with NYDFS, SEC and FINRA penalties, suffered a 2021 support-staff breach, and draws poor public support reviews. We weighted all of it.
Our take, up front: Robinhood Crypto is the crypto arm of a US-listed broker, and it is regulated in the US, the EU and the UK: New York licences, the first MiCA authorisation issued in Lithuania and an FCA crypto registration from July 2026. The app is among the cleanest in this series and puts crypto beside stocks, ETFs and futures. The weaknesses are plain: the default route has no commission but embeds an estimated 0.95% rebate in the spread, we found no ongoing proof of reserves, the group carries a long enforcement history (a $30 million NYDFS fine on the crypto arm), a 2021 support-staff breach exposed data on about 7 million people, and public support reviews are poor. We score it 59, twelfth of twenty: just below Bitget and above Bitfinex.
Robinhood Crypto says nearly all customer coins are held in cold storage and that it carries crime insurance against theft and cyber breaches (company-reported, from its EU launch materials). We found no theft of customer coins from Robinhood Crypto itself, and the EU app offers a withdrawal whitelist (DeFiLlama). Reserve transparency is the gap: in the sources we reviewed we found no ongoing public proof-of-reserves programme, and the crypto balances sit inside a listed US company whose audited accounts do not itemise customer coins. The security record is mixed. In November 2021 a caller socially engineered a customer-support employee and obtained access to support systems, exposing email addresses for about five million customers and names for about two million more, with roughly 310 people having names, birth dates and ZIP codes exposed; Robinhood said no Social Security, bank or card numbers were exposed and that no customer lost money, and it was then extorted. In 2019 it disclosed storing some passwords in plain text. A recent Trustpilot reviewer also alleges USDC was moved out of a Robinhood Wallet without authorisation; that is a single unverified claim about the separate self-custody Wallet, not Robinhood Crypto, so we treat it as an allegation only.
Pros
- Mostly cold-storage custody and crime insurance (company-reported)
- No theft of customer coins from Robinhood Crypto found; withdrawal whitelist in the EU app
Cons
- No ongoing public proof of reserves found
- 2021 support-staff social-engineering breach exposing data on about 7 million people
Robinhood Crypto is regulated on three fronts, which puts it near the top of this series on licensing. In the US, Robinhood Crypto, LLC holds New York virtual-currency and money-transmitter licences (CryptoSlate). In the EU, Robinhood Europe UAB received the first MiCA crypto-asset service provider authorisation issued by the Bank of Lithuania, listed from May 29, 2025 and passportable across the EEA, alongside an A-category MiFID brokerage licence. In the UK, Robinhood UK was added to the FCA crypto register on July 31, 2026. Enforcement history is long. The New York DFS fined the crypto arm $30 million for AML and consumer-protection failures (reported as a 2022 action). The SEC issued a Wells notice over its crypto business in May 2024 and closed that investigation without action in early 2025, but the group also reportedly settled with the SEC for $45 million in January 2025 over broker-dealer-side rule violations, and FINRA announced a $29.75 million settlement over compliance and supervision failures, which Robinhood neither admitted nor denied; we place those two on the group rather than the crypto arm. The Bitstamp business Robinhood bought is winding down retail trading on February 1, 2027.
Pros
- NYDFS licensing, the first Lithuanian MiCA authorisation and an FCA crypto registration
- SEC closed its crypto investigation without enforcement action in 2025
Cons
- $30M NYDFS fine on the crypto arm; $45M SEC and $29.75M FINRA settlements at group level
- Product and rules differ by region, and Bitstamp retail is closing
Robinhood shows no commission on its default route, which is exactly why it costs more than it looks. On the default market-maker routing, market makers pay Robinhood Crypto a rebate that CryptoSlate says rose to 0.95% of the amount traded from June 15, 2026, up from 0.85%, and that rebate is built into the buy and sell prices you see. Older reviews still cite 0.85%, so we treat 0.95% as the current figure and the other as outdated. The cheaper route is smart exchange routing, used on Robinhood Legend and the mobile ladder, which charges an explicit 0.10% to 0.85% fee by 30-day volume with no rebate to Robinhood (Robinhood fee-tier page). DeFiLlama lists a 0.50% spot taker fee for the EU app. In Canada, Robinhood says it takes no part of the spread and charges a single fee per order. There is no deposit fee, but network fees apply on withdrawals, and a full ACATS transfer-out costs $100. Different sources describe these pages slightly differently, and we could not load the live fee page, so confirm current numbers in the app before trading.
Pros
- No commission or deposit fee on the default route; explicit 0.10% to 0.85% tiers on Legend
- No account maintenance fee
Cons
- About 0.95% rebate sits inside the default spread (company disclosure; earlier 0.85%)
- $100 ACATS transfer-out fee; withdrawal network fees apply
Coverage is narrower than the global exchanges. The coin count depends on source and date: Robinhood’s own year-in-review in December 2025 said more than 45 digital assets were listed in the US and more than 65 in the EU, while CryptoSlate counted 90 coins on September 23, 2026 and says Robinhood disclosed integration fees for 17 of them. We could not reconcile the two, so we treat it as roughly 50 to 90 depending on date and region, with the EU range higher after the Bitstamp integration. Beyond spot crypto, Robinhood offers staking on assets such as ETH and SOL from $1, crypto futures through a separate derivatives entity, and spot crypto ETFs alongside stocks, ETFs and options in the same app. Margin is not offered to EEA users via Robinhood Europe (DeFiLlama), and long-tail altcoins are largely absent.
Pros
- Crypto, stocks, ETFs, options and futures in one account
- Staking from $1 on eligible assets
Cons
- Roughly 50 to 90 coins depending on source and region
- No margin for EEA users
This is where Robinhood is strongest. Reviewers consistently describe a simple, clean mobile app that makes buying crypto as easy as buying a stock, with a $1 minimum and now Robinhood Legend for charting, indicators and a ladder on desktop and mobile. An upgraded Crypto Trading API serves automated traders, with fee-tier support added from January 2026. Onboarding is quick, though some users complain about account restrictions and identity re-checks. Availability is regional: the US, the EU and EEA through Robinhood Europe, the UK, and Canada through Coinsquare, but not every product is offered in every place.
Pros
- Clean mobile app; $1 minimum
- Legend charting, ladder and a Crypto Trading API
Cons
- Features differ by region
- Some account restrictions and re-verification complaints
Support is the weak point. Trustpilot shows a TrustScore of 1 out of 5 on roughly 4,285 reviews on the Canadian-hosted page, and the recurring complaints are slow, generic or automated replies, locked accounts and unresolved fraud disputes. The Robinhood UK page is better but tiny, with 3.5 to 4 out of 5 across about 44 to 46 reviews depending on the snapshot, and still cites poor customer service as the main criticism. Some reviewers praise individual chat agents. Reviewers mention in-app messaging, email, chat and phone contact, but we could not confirm the current channel list independently. Review sites like this skew negative, so we weight them moderately.
Pros
- In-app messaging and a detailed help centre
- Some reviewers praise individual chat agents
Cons
- Trustpilot about 1 out of 5 on roughly 4,285 reviews (US and Canada page)
- Slow, generic replies and unresolved account locks in reviews
The ecosystem extends well beyond spot trading. Robinhood Legend and the mobile ladder, the Crypto Trading API, staking from $1, Robinhood Gold perks, crypto futures, and a self-custody Robinhood Wallet that now supports Robinhood Chain, with network fees covered on eligible transactions until December 31, 2026. It also owns Bitstamp and, through Coinsquare, its Canadian business, which is why the corporate picture is changing: Bitstamp’s retail accounts move to sell-and-withdraw-only mode on February 1, 2027, with a free one-time migration into Robinhood. We found no exchange token.
Pros
- Wallet, Chain, API, staking, futures and Legend
- Free migration path from Bitstamp
Cons
- Retail Bitstamp closing on February 1, 2027
- No exchange token found
A polished, licensed app, but know that the default route prices through the spread and that support reviews are poor.
Robinhood Crypto suits people who want crypto in the same app as stocks and ETFs and who value a simple interface. Use Legend or the ladder if you trade often so the fee is explicit, check the live fee page, confirm which Robinhood entity serves your country, enable every security control, and keep long-term holdings in self-custody because we found no ongoing proof of reserves.
Twelfth of twenty: a polished, licensed app, but spread-based default pricing, no ongoing proof of reserves, a long enforcement record and weak support.
Robinhood scores 59, just behind Bitget (59.5) and ahead of Bitfinex (58.75), KuCoin (58.5), MEXC (58), Bitstamp (57.75), Gemini (57.25), Binance.US (53.75), Bitrue (51.25) and HTX (45.5); it trails Kraken (74), Bitvavo (70), Coinbase (69.25), OKX (69), Crypto.com (67.75), Bybit and Gate (66), Upbit (64.5), Bitpanda (63.75) and Binance (61.25). It earns its marks on licences in the US, EU and UK, one of the cleanest apps in the series and a wide set of adjacent products. It loses ground on the roughly 0.95% rebate built into the default spread, the lack of an ongoing reserve attestation, the enforcement history, the 2021 breach and poor support reviews. Revisit the score if Robinhood publishes ongoing reserve attestations or improves its dispute handling.
The scorecard above is deliberately general. Whether Robinhood is right for you depends on where you live, which interface you use and how much you value simplicity against cost and support.
The investor who wants crypto beside stocks in one app
A clean interface, a $1 minimum and licences in the US, EU and UK suit people who value simplicity over a long coin list.
The active trader who uses Legend
Legend and the ladder use explicit 0.10% to 0.85% fee tiers and add an API, which is clearer than the default spread.
The casual buyer who accepts a hidden spread
The default route has no commission, but an estimated 0.95% rebate sits inside the price you see.
The altcoin trader or anyone needing fast support
The coin list is modest, and public reviews of support and account locks are consistently negative.
These four tables cover the specifics we didn't want to bury in prose: the fee picture, the reserves and incident timeline, regulatory footprint, and how the exchanges in this series compare.
What Robinhood charges (and where sources conflict)
| Item | Maker | Taker | Source note |
|---|---|---|---|
| Default market-maker route (US app) | No commission | No commission | Rebate to Robinhood built into the spread; 0.95% per CryptoSlate since June 15, 2026 |
| Earlier rebate figure | 0.85% | 0.85% | Older reviews and Robinhood tables; appears superseded |
| Smart exchange routing (Legend, ladder) | 0.10% to 0.85% | 0.10% to 0.85% | Robinhood fee-tier page; by 30-day volume; no rebate to Robinhood |
| EU app, spot | Unclear | 0.50% | DeFiLlama (September 2026); maker rate not listed |
| Canada | Single fee | Single fee | Robinhood says it takes no part of the spread; rate not verified |
| Deposits and account upkeep | None | None | No deposit or maintenance fee found |
| Withdrawals | Network fee | Network fee | Some promotions cover network fees for limited periods |
| ACATS transfer out | $100 | $100 | Full or partial; brokerage-wide |
We could not load Robinhood’s live fee page for every region, only support articles and third-party summaries. Check current figures in the app before trading.
Security, reserves and incident timeline
| Date | Event | Detail |
|---|---|---|
| 2019 | Plain-text passwords | Robinhood disclosed storing some user passwords unencrypted |
| Nov 2021 | Support-staff breach | Social engineering exposed about 5M emails and 2M names; about 310 with fuller details; extortion attempt |
| 2022 | NYDFS fine | $30 million on the crypto arm for AML and consumer-protection failures (reported) |
| May 2024 | SEC Wells notice | Over crypto listings, custody and operations; Robinhood contested it |
| Jan 2025 | SEC settlement | $45 million reported, group level, over broker-dealer rule violations |
| Early 2025 | SEC probe closed | Crypto investigation closed without enforcement action |
| Mar 2025 | FINRA settlement | $29.75 million over compliance and supervision failures; neither admitted nor denied |
| To date | Theft record | No theft of customer coins found from Robinhood Crypto; no ongoing proof of reserves |
The NYDFS date is reported secondhand, and the FINRA and SEC settlements are at group level rather than the crypto arm. The wallet-theft allegation on Trustpilot concerns the separate self-custody Wallet and is a single unverified claim.
Where Robinhood stands with regulators
| Region | Status |
|---|---|
| Company | Robinhood Markets, Inc., Menlo Park, California; crypto via Robinhood Crypto, LLC |
| United States | New York virtual-currency and money-transmitter licences; SEC crypto probe closed in 2025 |
| EU and EEA | Robinhood Europe UAB: MiCA authorisation from the Bank of Lithuania (listed May 29, 2025) and MiFID brokerage licence |
| United Kingdom | Robinhood UK added to the FCA crypto register on July 31, 2026 |
| Canada | Served through Coinsquare Capital Markets, a Robinhood subsidiary |
| Bitstamp | Retail deposits and buys end February 1, 2027; sell and withdraw only afterwards |
Regulatory status differs by entity and changes quickly. Confirm the entity that will serve you, and your location’s status, on the relevant register.
Series 10 so far
| Binance | Kraken | Coinbase | Gate | OKX | Bybit | MEXC | HTX | Bitfinex | Bitget | Crypto.com | Bitrue | Binance.US | KuCoin | Bitstamp | Gemini | Upbit | Bitvavo | Bitpanda | Robinhood | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Security (30) | 5.5 | 8.0 | 7.5 | 6.5 | 7.5 | 6.5 | 6.0 | 4.5 | 5.5 | 5.0 | 7.0 | 4.5 | 4.5 | 6.5 | 6.0 | 6.5 | 6.5 | 7.0 | 6.0 | 6.0 |
| Regulation (20) | 4.0 | 8.5 | 8.5 | 6.5 | 6.0 | 6.5 | 3.0 | 2.0 | 4.5 | 5.5 | 8.0 | 3.5 | 5.0 | 3.5 | 8.0 | 7.0 | 6.5 | 8.0 | 7.0 | 7.0 |
| Fees (15) | 8.5 | 6.0 | 4.5 | 7.0 | 7.5 | 7.0 | 8.0 | 5.5 | 9.0 | 6.5 | 5.5 | 6.5 | 9.0 | 6.5 | 5.0 | 4.0 | 8.5 | 7.0 | 5.0 | 4.5 |
| Coverage (10) | 9.5 | 8.0 | 7.5 | 9.5 | 8.0 | 8.0 | 9.5 | 8.0 | 6.5 | 8.5 | 8.0 | 8.0 | 5.5 | 9.0 | 5.0 | 5.5 | 6.5 | 7.0 | 8.5 | 5.5 |
| Experience (10) | 7.0 | 7.5 | 8.0 | 7.0 | 7.5 | 7.5 | 7.0 | 6.5 | 6.5 | 7.5 | 7.5 | 7.0 | 7.0 | 7.0 | 6.0 | 7.0 | 7.0 | 8.0 | 8.0 | 8.0 |
| Support (10) | 3.5 | 4.5 | 3.0 | 2.5 | 3.5 | 3.5 | 2.0 | 2.0 | 3.0 | 3.5 | 2.5 | 2.5 | 2.0 | 2.5 | 3.0 | 2.0 | 3.0 | 4.5 | 4.0 | 3.0 |
| Ecosystem (5) | 8.0 | 8.0 | 9.0 | 8.0 | 8.5 | 8.0 | 7.0 | 6.5 | 7.5 | 8.5 | 9.0 | 7.0 | 4.5 | 7.5 | 4.5 | 6.5 | 5.5 | 6.0 | 7.5 | 7.5 |
| Our score | 61.25/100 | 74/100 | 69.25/100 | 66/100 | 69/100 | 66/100 | 58/100 | 45.5/100 | 58.75/100 | 59.5/100 | 67.75/100 | 51.25/100 | 53.75/100 | 58.5/100 | 57.75/100 | 57.25/100 | 64.5/100 | 70/100 | 63.75/100 | 59/100 |
Category scores are out of 10 and weighted as shown, taken from each review in this series.
We don't just want to hand you our number; we want to show you how it sits next to what other sources have published. Round-ups like the app but consumer ratings are poor, and our score lands above the blended figure.
Our score lands above the aggregated figure, because the very low Trustpilot rating drags the blend down, while our scorecard credits the licences in three regions and the clean app and still weighs the spread-based pricing, the missing proof of reserves and the enforcement history.
| Source | Score | Type |
|---|
Scores compiled by our editorial team from publicly available reviews as of November 2026. "Estimate" means the source didn't publish a single numeric score, so we converted its published verdict and sentiment into a comparable 100-point figure. Verify current figures directly with each source before citing them elsewhere.
Robinhood Crypto, LLC holds New York virtual-currency and money-transmitter licences, Robinhood Europe UAB holds the first MiCA authorisation issued in Lithuania, and Robinhood UK was added to the FCA crypto register on July 31, 2026. We found no theft of customer coins from the crypto arm, but there is a long enforcement history and no ongoing proof of reserves, so it is regulated rather than spotless.
Not as a line item on the default route, but the cost is embedded in the spread. CryptoSlate says market makers have paid Robinhood Crypto 0.95% of each trade since June 15, 2026, up from 0.85%. Robinhood Legend and the mobile ladder use smart exchange routing with an explicit 0.10% to 0.85% fee by 30-day volume. DeFiLlama lists a 0.50% taker fee for the EU app.
It depends on date and region. Robinhood said in December 2025 that it listed more than 45 digital assets in the US and more than 65 in the EU, while CryptoSlate counted 90 on September 23, 2026. We could not reconcile the two figures, so check the app for your region.
In the sources we reviewed we found no ongoing public proof-of-reserves programme. Robinhood says nearly all customer coins are in cold storage and that it carries crime insurance, but those are company claims rather than independent attestations.
In November 2021 an attacker socially engineered a customer-support employee and obtained access to support systems, exposing email addresses for about five million customers and names for about two million more; about 310 people had names, birth dates and ZIP codes exposed. Robinhood said no Social Security, bank or card numbers were exposed and no customer lost money. We found no theft of customer coins from Robinhood Crypto itself.
Robinhood completed its roughly $200 million Bitstamp acquisition in June 2025. Starting February 1, 2027, Bitstamp by Robinhood accounts can no longer deposit or buy, and can only view, sell and withdraw. Robinhood offers a free one-time migration of supported assets into Robinhood.
It is available in the US, in the EU and EEA through Robinhood Europe, in the UK and in Canada through Coinsquare, with different products in each. Check the Robinhood site for your country before signing up.
Robinhood scores 59 against Coinbase’s 69.25. Robinhood has the simpler app and offers stocks and futures beside crypto, but its coin list is shorter, and it has no ongoing proof of reserves. Coinbase has the broader crypto product set, though it is also expensive.
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