How to assess Robinhood Crypto fees before trading
To assess Robinhood Crypto fees before trading, check the app fee schedule and compare the quoted price with a public market price to estimate the spread.
Vahe HakobyanEditor-in-chief
Updated Oct 6, 20263 min readFact-checked
On this page
- The spread is the main cost, not a commission.
- Check the app's fee schedule first.
- Compare the app quote with a public price.
- Review the confirmation for the execution price.
- Keep records for tax reporting.
You will check the fee schedule, measure the spread on a trade you are considering, and keep records afterward. You need the Robinhood app and a public price source.
What to know before you start
Robinhood Crypto began in 2018 and has described its standard crypto orders as commission-free. The cost shows up in the spread, the difference between the price Robinhood quotes you and the public price. Open the current fee schedule in the app before you trade.
Steps to assess the fees
- 1Pick your tradeChoose the cryptocurrency and order size.
- 2Record the app quoteWrite down the buy or sell price on the Robinhood screen.
- 3Find a public priceCheck a public exchange or tracker for the same asset.
- 4Estimate the spreadFor a buy, subtract the public price from the Robinhood quote. For a sell, subtract the Robinhood quote from the public price. Divide by the public price for a percentage.
- 5Check Gold termsRobinhood Gold, launched in 2016, may change the spread on your crypto trades. Read the current terms in the app and compare any change with the subscription cost.
- 6Add visible feesAdd any separate fee shown on the order screen.
After you trade: records and safety
After you trade, open the confirmation. It shows the actual execution price and any fee charged. Compare it with your estimate. Keep your records because the IRS treats crypto as property, and a sale can create a capital gain.
Frequently asked questions
Check the app's fee schedule for any transfer fee. The blockchain network may also charge one.
Spreads usually vary by asset and order size, and they can widen when markets are volatile.
Find them in the app's account history. Open a completed order for the execution price and any fee.
