Robinhood Wallet | Robinhood Crypto Wallet login | Robinhood Web3 Wallet

Robinhood is a popular self-custodial wallet that acts as a portal to Web3, where users can swap digital currency without any network fees on Polygon.
Robinhood is a popular self-custodial wallet that acts as a portal to Web3, where users can swap digital currency without any network fees on Polygon. The wallet provides users complete control over their digital funds on the Ethereum and Polygon networks, meaning users can hold and manage the private keys to their funds. State connected because Robinhood is planning to add more networks in the near future. Note: Robinhood Wallet is currently accessible on iOS and Android, coming soon. Also, you can only use a single wallet address at a time in the app.

How Does Robinhood Wallet Work?

Robinhood treats Bitcoin (BTC) and other digital currencies the same. It permits users to trade BTC, ETH, Bitcoin, Dogecoin, and more. Robinhood must focus, however, that digital currency trading takes place in a different account from a common Robinhood Financial account. Robinhood doesn't presently support the movement of BTC. Simply put, when users use Robinhood Wallet, they are not obtaining genuine digital assets as they can't obtain the underlying currencies for now. Users receive exposure to the cost fluctuations of the supported virtual currencies of the platform.

Guide to Use the Robinhood Wallet App

This section covers every essential information you must seek to begin crypto trading with Robinhood. You can check out the simple instructions:

Creating a Wallet

  • To start, you must launch the Robinhood Wallet app on your iOS device. If you haven't yet downloaded & installed the app, you can do it from the App Store.
  • Then, choose the Create New Wallet option on the home screen.
  • Next, select the Use Face/Touch ID or Generate a Custom PIN option.
  • After this, tap on the Back it up manually, Back it up to iCloud tab, or skip the backup for later.
  • Hit the Turn on Notification tab or choose the Maybe Later option.
  • Now, pick the Add Cryptocurrency, Get Reward, or Skip to claim the reward later.
  • After that, you should fund the wallet via Robinhood Crypto or another exchange or wallet.
  • Lastly, hit the Open Wallet button.
Remember to back up the wallet, as it is the only method to recover your wallet and assets if you lose or damage your current device.

Importing the Existing Wallet

Robinhood Wallet allows users to import their Polygon or Ethereum wallet by using the secret seed phrase of the existing wallet.
  • Firstly, you should launch the Rohibhood Wallet app and hit the Import Existing Wallet tab.
  • Then, you can either manually provide or copy and paste your recovery phrase in the preferred field.
  • Tap on the Import button.
  • Next, pick the Use Face/Touch ID or Generate a Custom PIN option.
  • After that, choose the Backup to iCloud, Backup manually, or Skip it for later.
  • Tap the Turn on Notifications option, or you can hit the Maybe Later tab to turn it on later.
  • Choose the Get Reward option if you wish to claim the reward immediately, hit the Add Crypto tab to add funds to your wallet, or you can select the Skip option to skip it for now.
  • You can add crypto from Robinhood Wallet or another external wallet or exchange.
  • After this, choose the Open Wallet option.
  • Note: Presently, users cannot select more addresses to import, but Robinhood will support more addresses soon.

Recover the Wallet

You can restore your wallet if you have backed it up to iCloud.
  • Begin by navigating to the Settings section on your iOS device.
  • Then, choose the Recover the Wallet from iCloud option.
  • Provide the password to access the backup.
  • Next, you should hit the Recover Wallet tab.
  • After this, choose the Use Face/Touch ID option or Create a Custom PIN.
  • Finally, press the Continue button.

How to Fund Wallets with Robinhood Crypto?

Users can add desired tokens through Robinhood Crypto to fund their Robinhood Wallet. You will see the option to add supported tokens over the Polygon and ETH networks. You can check the list of supported tokens when funding the wallet.
  • You should sign in to the Robinhood Wallet using the password.
  • Then, hit the Menu icon and choose Move via Robinhood.
  • Select the token you wish to move.
  • Pick the network and provide the desired amount.
  • Next, you must hit the Review tab and check the information you have provided.
  • If all look correct, choose the Submit option.
  • After this, specify the one-time code via the authenticator app and choose the Return to Robinhood Wallet option.

Fees Structure of Robinhood Wallet

Robinhood presently doesn't take a fee on token exchange. Feed depends on change. Gas or network fees are subject to blockchain transaction processing fees. You must submit the fees to the network together with the transaction. The cost fluctuates depending on the network's confirmation speed, transaction size, and transaction volume.
Network cost can be used for token approvals to an external wallet and connecting with decentralized applications (dApps). Robinhood does not gather any part of the network cost.
Last modified 3mo ago