CEX FINCEN MSB NYDFS BITLICENSE (2019) DESK RESEARCH
Robinhood Crypto review
Commission-free crypto inside the Robinhood broker app
The verdict
6.5 / 10 · CONSIDER
Robinhood Crypto offers commission-free buys/sells on 30+ tokens with payment-for-order-flow economics. The best fit for US retail users already on Robinhood for stocks who want crypto in the same app. Limited coin selection vs Coinbase; native withdrawal-to-wallet rolled out 2023 (after years of restrictions).
◆ BUY IT IF
- Zero commission
- Integrated with Robinhood stocks/options
- Easy onboarding for existing brokerage users
- Crypto-withdrawal supported since 2023
◇ SKIP IT IF
- PFOF revenue model — spreads not transparent
- Limited token selection (30 vs Coinbase 250+)
- No staking, no earn, no margin (crypto)
- Mixed regulatory history — NYDFS $30M fine 2022 (compliance/AML); SEC + state-AG settlement 2024 (staking-as-securities)
§ 01 SCORE BREAKDOWN
Seven axes, weighted.
DIMENSION WEIGHT RATING SCORE
Regulatory safety
FinCEN MSB. Robinhood Crypto LLC operates under state Money Transmitter Licences across most US states. NYDFS
Trading fees
Maker 0% · Taker 0%
Coin selection
30 coins supported
Liquidity
CEX — order-book depth
User experience
Security
Support
§ 02 SPECIFICATIONS
Everything, in one table.
Regulation
- Regulatory status
- FinCEN MSB. Robinhood Crypto LLC operates under state Money Transmitter Licences across most US states. NYDFS BitLicense (issued January 2019). NYDFS imposed a $30M enforcement fine in 2022 (compliance/AML); 2024 SEC + state-AG settlements (staking).
- KYC required
- Yes
- Proof of Reserves
- No
- Founded
- 2018
- Type
- CEX
Fees
- Maker fee
- 0%
- Taker fee
- 0%
- Withdrawal fee
- Network fee only (no platform fee)
Trading
- Spot trading
- Yes
- Futures trading
- No
- Margin trading
- No
- Copy trading
- No
- Supported coins
- 30
Other features
- Earn / staking
- No
- Debit card
- No
- Fiat on-ramp
- No
§ 03 FAQ
Frequently Asked Questions
Is Robinhood Crypto safe to use? +
Robinhood Crypto FinCEN MSB. Robinhood Crypto LLC operates under state Money Transmitter Licences across most US states. NYDFS BitLicense (issued January 2019). NYDFS imposed a $30M enforcement fine in 2022 (compliance/AML); 2024 SEC + state-AG settlements (staking)..
What are Robinhood Crypto's trading fees? +
Robinhood Crypto charges 0% maker fee and 0% taker fee. Spreads embedded in displayed price via payment-for-order-flow; no transparent maker/taker schedule.
How many coins does Robinhood Crypto support? +
Robinhood Crypto supports 30 coins and tokens. Spot trading is available.
◆ OPEN ACCOUNT
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