Robinhood automatically calculates the ETH equivalent and debits your ERC-20 token balance directly. However, with Robinhood, you don’t need an ETH balance to complete an ERC-20 token transfer. When withdrawing ERC-20 tokens on the Ethereum blockchain, you pay the network fee in Ether (ETH). For example, if you send all 100 DOGE in Robinhood Crypto account and the network fee is 1 DOGE, the recipient address will receive 99 DOGE.ĮRC-20 transfer fees: You can transfer ERC-20 tokens, such as Chainlink (LINK), Compound (COMP), Polygon (MATIC), Shiba Inu (SHIB), and Solana (SOL), Uniswap (UNI) and USD Coin (USDC). When you select the Send All option, the estimated network fee will be deducted from the total amount you send. For example, if you send 100 DOGE and the network fee is 1 DOGE, a total of 101 DOGE is then sent to the network. When you send a coin on Robinhood, we’ll estimate the network fee and add it to the amount you want to send. We’ll always let you know what the network fee estimate is before you finalize a transfer out of your Robinhood Crypto account. The amount of the fee depends on, among other things, the coin and how many other transactions are happening on the coin’s network. Transfer fees : Every on-chain crypto transaction incurs a network fee- sometimes called a miner fee or gas fee. Transfer limits : You can send up to $5,000 worth of crypto or make up to 10 transfers total in a 24-hour period.Ĭrypto bought on Robinhood using Instant cannot be withdrawn until those transactions settle, which can take approximately up to 5 business days.
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Be sure to save 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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Copy the verification code generated by your authentication app, and when prompted, paste it into your Robinhood app.Confirm that you’d like to add Robinhood.Under Security, select Two-Factor Authentication.Select the link in the email to confirm your email address.
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Set up an authenticator app : First, you’ll need to download an authentication app-we support many major third-party apps, including:.2FA is more secure because it requires 2 sources of verification: Something you know (your password) and something you have (the code you generate or receive on your device)
2FA makes it much harder for attackers to gain access to both of these, which helps protect you in case an attacker learns your password. Two-Factor Authentication (2FA) provides an additional layer of security to your account.
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