How does Robinhood Crypto store coins?
Cryptocurrencies purchased on the Robinhood platform are stored in a mix of hot (online) and cold (offline) storage. We use cutting-edge security measures that are both process and technologically driven to secure your coins.
We ensure that any operations on coin transfers require authorization from a select group of people on various teams, and we constantly rotate this list of people for added security.
We practice strict operational security around these measures, and ensure that only the employees that require access to these systems are granted such. This list of people is not disclosed internally or externally.
Furthermore, our Security Team constantly reviews all code and infrastructure deployed within Robinhood, and we hire third-party security experts to test our systems regularly to ensure that we’re building the most secure systems possible.
How is Robinhood Crypto regulated?
Robinhood Crypto is registered with FinCEN as a money services business. As such, Robinhood Crypto is subject to the requirements of the Bank Secrecy Act as well as the money transmitter laws of most U.S. States.
Note: Unlike the stocks and options in your Robinhood Financial account, cryptocurrencies in your Robinhood Crypto account are not protected by the Securities Investor Protection Corporation.