Review
Robinhood
Commission-free Bitcoin tucked inside a stock brokerage
Our Verdict
There are no commissions here, and since 2022 you can actually move your Bitcoin out to a wallet you control - which matters, because for a long time you could not. If you already trade stocks on Robinhood, buying Bitcoin is one tap away. But step back and look at the whole picture: under our rubric it scores a D, and the scores beside this review say why. Our verdict: use Robinhood for stocks if you like it, and buy your Bitcoin somewhere else.
What we like
- No commission on Bitcoin trades - competitive spread-based pricing (~0.5-1%)
- Bitcoin wallet launched 2022 - can actually withdraw to own wallet now
- Convenient for users who already trade stocks on Robinhood
- Publicly traded (NASDAQ: HOOD) - financial transparency via SEC filings
- Simple, familiar interface for first-time buyers
- IRA product available with Bitcoin access
What could be better
- Push notifications and animations around trades
- Payment for order flow model
- Halted GameStop buying in January 2021
How We Scored This
Community score compiled from Reddit threads, expert reviews, and app store ratings.
Threads cite the GameStop halt, the PFOF model and gamification; the wallet launch is noted as an improvement.
A social engineering attack exposed email addresses for 5 million users and full names for 2 million more. Robinhood put the number whose date of birth and zip code were exposed at roughly 310, with about 10 accounts more extensively revealed, and said no Social Security, bank account or debit card numbers were taken. Robinhood disclosed the breach promptly.
Robinhood disclosed a 2021 FINRA settlement in its registration statement; see the filing for the terms.
4.2/5 on the App Store. The rating reflects the full brokerage experience, not just Bitcoin. Positive reviews praise the simple interface and no-commission model. Negative reviews cite the GameStop incident and outages during volatile periods.
Score History
Published aggregated community review. Community score (8/25) reflects community reaction to the GameStop halt, gamification, and payment for order flow model.
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