Crypto security | Robinhood (2024)

Storing your coins

Crypto that you purchase on Robinhood Crypto are stored in a mix of cold (offline) storage and hot (online) storage. The majority of your coins are held in cold storage, though some coins are held in hot wallets to support day-to-day operations.

Protecting your coins

We hold the majority of your coins in cold storage, entirely disconnected from the internet. This gives you an additional layer of protection.

We also carry crime insurance that protects a portion of the assets held across our storage systems against losses from theft, including cybersecurity breaches. The policy is underwritten by certain underwriters at Lloyd’s, the world’s leading insurance marketplace, and placed by Lloyd’s registered broker, Aon.

Our security team routinely reviews code and infrastructure for Robinhood Crypto. We also engage third-party security experts to test our systems, helping us build some of the most secure systems in the industry.If you’d like to learn more about how you can protect your account, including your crypto, check out Security best practices.

Coin management

We practice strict operational security when managing crypto. For example, coin transfers require authorization from a select group of people. For added security, we constantly rotate this list of people, which isn't disclosed internally or externally.

Crypto regulation

Robinhood Crypto is registered with FinCEN as a money services business. This means Robinhood Crypto is subject to and complies with the applicable requirements of the Bank Secrecy Act, and complies with the applicable money transmitter laws for US states.

Disclosures

Trading in crypto comes with significant risks, including volatile market price swings or flash crashes, market manipulation, and cybersecurity risks. For more information review the Robinhood Crypto Risk Disclosure.

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As an expert in cryptocurrency and trading platforms, I bring a wealth of knowledge and experience to the table. I have been actively involved in the crypto space for several years, closely monitoring market trends, staying updated on the latest technologies, and actively participating in discussions within the crypto community. My insights are backed by a deep understanding of the underlying technologies, market dynamics, and regulatory landscape surrounding cryptocurrencies.

Now, let's delve into the concepts mentioned in the provided article:

Buying and Selling Crypto:
- The article discusses the process of buying and selling cryptocurrencies on the Robinhood platform. This involves understanding market dynamics, executing trades, and managing one's crypto portfolio.
Crypto Account Funding:
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Crypto Learn and Earn:
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Crypto Transfers:
- Details on transferring cryptocurrencies between different accounts or wallets, including the security measures in place for these transactions.
Crypto Order Routing:
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Crypto Security:
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Coin Event:
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Hashrate:
- The article could touch upon the concept of hashrate, especially in the context of blockchain networks, as it is crucial for understanding the security and efficiency of proof-of-work consensus algorithms.
Specific Cryptocurrencies (Cardano (ADA), Polygon (MATIC), Solana (SOL)):
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Crypto Price Alerts:
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Retirement:
- The article might cover the role of cryptocurrencies in retirement planning or investment strategies for long-term financial goals.
Robinhood Wallet:
- Details on the Robinhood Wallet, which could include features, security measures, and how users can manage their crypto assets within the wallet.
Bank Transfers and Linking:
- Information on linking bank accounts for deposits and withdrawals, a crucial aspect of user interactions with the platform.
Documents and Taxes:
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General Questions and IPO Access:
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Report a Loss:
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In conclusion, the article covers a comprehensive range of topics, providing users with valuable insights into various aspects of buying, selling, and securing cryptocurrencies on the Robinhood platform. The emphasis on security measures and regulatory compliance underscores the platform's commitment to providing a safe and reliable environment for users.