To help protect your market orders against dramatic price moves, we adjust market orders to limit orders collared up to 1% for buys, and 5% for sells.
Collars are based off the last trade price.
This means that your order won’t execute if the price of the cryptocurrency moves more than 5% lower than its price at the time you placed a market sell order, or more than 1% higher than its price when you placed a market buy order, until it comes back within the collar.
A limit order is an order placed to buy or sell a specified amount at a specified price or better. You don’t have to worry about day trading limits on cryptocurrencies because they’re not regulated by FINRA or the SEC like stocks and options.
Limit orders aren’t guaranteed to execute.
When you make a deposit (or sell investments in your Robinhood Financial brokerage account), those funds are immediately available for purchasing cryptocurrencies in your Robinhood Crypto account.
Cryptocurrency trading is offered through an account with Robinhood Crypto. Robinhood Crypto is not a member of SIPC or FINRA.
If you have a Robinhood Instant account, you get instant access to your funds up to $1,000. Additional funds will land in your account after normal settlement times.
If you have a Robinhood Gold account, you’ll have instant access to your funds up to your Gold tier amount, and any additional funds will land in your account after normal settlement times.
For Robinhood Crypto, funds from stock, ETF, and options sales become available for buying within 3 business days. However, limited cash deposits and all proceeds from crypto sales are available to instant accounts immediately.
You don’t have enough buying power to place the trade.
Cryptocurrencies are non-marginable and can’t count as collateral, so you’ll need to have enough cash in your account to place the order.
You don’t have enough equity to reach your margin minimum. If you have a Gold account and are using Gold Buying Power, you won’t be able to place a cryptocurrency order in your Robinhood Crypto account if doing so would cause you to fall below your margin maintenance or minimum balance in your Gold account. Also, in a Robinhood Instant or Gold account, you cannot place a trade that would cause you to fall below your pattern day trade minimum equity.
Your account is being prevented from buying stocks.
We’re excited to release Robinhood Crypto to customers on a state-by-state basis. Check out our growing list of states below!
Don’t see your state? Don’t worry–you’ll receive an email and an in-app notification when your account is ready for Crypto.
Robinhood Crypto also supports real-time market data for the following cryptocurrencies:
We also plan to support the ability to buy and sell other cryptocurrencies through Robinhood Crypto.
The world of cryptocurrency has been turned upside down with the announcement of the popular no commission stock purchasing app Robinhood entering the crypto-space. You can now in select states purchase Bitcoin (BTC), Ethereum (ETH) with Litecoin (LTC) and Ripple (XRP) coming soon.
2. Select the cryptocurrency you would like to purchase (currently only Bitcoin (BTC) and Ethereum (ETH) is available to purchase, Litecoin (LTC) and Ripple (XRP) will be coming soon) and click the BUY button at the bottom of the screen.
3. Choose the amount of cryptocurrency you want to buy with the Robinhood app and click the check button to confirm your purchase.
4. If you have not connected a payment source or bank account and funded your account you will be asked to deposit fiat (USD) into the Robinhood app.