Moving coins between wallets looks simple: copy an address, paste it, press send. Because a crypto transfer cannot be undone, a wrong network or a missing memo can leave your coins on the blockchain while your account shows nothing. Checking four details before you send, the coin, the network, the address and any memo, is how you avoid that.
On Robinhood, a crypto deposit means sending a supported coin from an outside wallet or exchange to the address Robinhood shows on that coin's Receive screen. Robinhood holds the keys to that address, so once the blockchain confirms the transfer and Robinhood finishes a short security review, the coins appear in your Robinhood Crypto balance, ready to sell or hold.
Every check below happens before you press send in the other wallet, because that screen is the last point where a mistake can still be fixed.
What is a Robinhood crypto deposit?
A Robinhood crypto deposit is a transfer of a supported coin from an outside wallet or exchange into your Robinhood Crypto account. You send the coin on its own network to the address Robinhood generates for it. Your balance updates after the required confirmations and a security review (source: Robinhood, Crypto Transfers).
Robinhood Crypto is a custodial account, which means Robinhood manages the private keys on your behalf. Customer coins sit in Robinhood's corporate crypto addresses, and Robinhood does not give customers the keys to them. A deposit therefore moves your coins into Robinhood's care, which is what lets you trade them in the app without commission. If you are new to the account itself, what Robinhood Crypto is covers how it works and how cash funding differs (source: Robinhood, Crypto Transfers).
Each coin in your account has its own deposit address, and that address is different from the one Robinhood uses when it sends coins out. A Robinhood withdrawal address copied from a past transaction is the wrong destination for a deposit, and coins sent there can fail to reach your account. Use the address on the coin's Receive screen and nothing else.
Deposits have to be switched on before your first transfer. You turn on crypto transfers by completing Robinhood's Verify It's You identity check. Approval usually comes quickly, though the review can last as long as five business days. Transfers stay off until it is done (source: Robinhood, Crypto Transfers).
Crypto deposits on Robinhood have no limit, and Robinhood adds no fee of its own to receive crypto. The only cost is the network fee, also called a gas fee or miner fee, which the platform you send from charges you and which goes to the blockchain network that processes the transfer (source: Robinhood, Crypto Transfers). Withdrawals work under separate rules, explained in Robinhood crypto withdrawal limits, and moves between two Robinhood accounts follow how to send crypto between Robinhood accounts.
How to deposit crypto step by step
To deposit crypto on Robinhood, open the coin in the Robinhood app, tap Receive, and copy the address plus any tag or memo. Then paste them into the wallet or exchange you are sending from, choose the network that matches the coin, and submit. Robinhood credits the coins after the required confirmations and its security review (source: Robinhood, Crypto Transfers).
- Complete Robinhood's Verify It's You identity check if you have never transferred crypto before. This switches on crypto transfers for your account.
- Open the Robinhood app and go to the detail page of the coin you want to deposit, for example Ethereum.
- Tap Receive. If you reached the coin through search, the button can read Deposit; both open the deposit address for that coin.
- Copy the address. If the screen also shows a tag or memo, copy that as well.
- In the wallet or exchange that holds your coins, start a send or withdrawal of the same coin.
- Choose the network that matches the coin on Robinhood, such as Ethereum for ETH or Bitcoin for BTC.
- Paste the address, put the tag or memo in its own field, and enter the amount.
- Compare the first six and last four characters of the pasted address with the Robinhood screen, then review and submit.
- Watch the coin's transfer history in Robinhood until the app tells you the coins are available.
Each coin can only travel on its own blockchain, so Bitcoin goes to a Bitcoin address and nowhere else, and sending on an incompatible network can mean the coins are gone for good. Use the address the Receive screen shows today. An address saved from an old deposit or spotted on a block explorer may no longer be valid. A deposit sent to it can fail (source: Robinhood, Crypto Transfers).
Say you want 0.50 ETH in your Robinhood Crypto account and the ETH sits in another wallet. You copy the 0x address from Ethereum's Receive screen, choose Ethereum as the network in the other wallet, paste, enter 0.50 ETH and submit, with that wallet's network fee paid on top. Ethereum deposits need 30 confirmations, about five minutes under normal conditions (source: Robinhood, Crypto Transfers). A few minutes later the transfer history shows 0.50 ETH that you can sell or hold.
An Ethereum address is 42 characters long: the 0x prefix followed by 40 hexadecimal characters (source: ethereum.org, Ethereum accounts). A string that long is easy to cut short, and one wrong character can lose the deposit, so step 8 is worth the few seconds.
Bitcoin, Bitcoin Cash, Dogecoin and Litecoin get a new deposit address after each deposit, so copy a fresh one every time you receive those four coins. ETH and ERC-20 tokens keep the same address, because Ethereum tracks balances by account (source: Robinhood, Crypto Transfers). An ERC-20 token is a fungible token built on Ethereum, meaning every unit is identical in type and value to every other unit, the way one ETH always equals one ETH (source: ethereum.org, ERC-20 Token Standard). USDC sent as an ERC-20 token therefore uses your Ethereum deposit address, and Robinhood USDC transfers across chains explains how USDC moves on other networks.
Robinhood Crypto vs Robinhood Wallet deposits
A deposit into Robinhood Crypto and a receive into Robinhood Wallet look alike on screen, and they end with different people holding the keys. A Robinhood Crypto deposit lands in a custodial account where Robinhood manages the keys. A Robinhood Wallet receive lands in a self-custody wallet, where you hold the keys yourself.
Robinhood Wallet is its own download, apart from the main Robinhood app. It is a self-custody wallet for the Ethereum, Bitcoin, Solana, Dogecoin, Arbitrum, Polygon, Optimism, Base and Robinhood Chain networks. You hold the private keys to everything stored in that wallet (source: Robinhood, Robinhood Wallet).
That difference decides what happens when something goes wrong. With Robinhood Crypto, Robinhood manages your keys and its support team can help you. With a self-custody wallet, keeping the keys safe is your responsibility. If you lose access to them, there is no recovery option (source: Robinhood, Crypto Transfers).
To receive coins into Robinhood Wallet:
- Open Robinhood Wallet and tap Receive on the Home screen.
- Search for or select the coin you are receiving.
- Scan the QR code from the sending app, or copy the address and paste it there by hand.
- Submit the transfer on the sending platform (source: Robinhood, Send, Receive, and Swap Crypto).
If the coins are coming from an exchange, confirm first that the exchange can withdraw that coin on one of the networks Robinhood Wallet supports (source: Robinhood, Send, Receive, and Swap Crypto).
On Ethereum, both apps give you an address that starts with 0x, so the two can look the same at a glance. Paste from the app whose balance you want to go up. On a block explorer, the receiving address on a Robinhood Crypto deposit is an address Robinhood manages for your account, while a Wallet receive shows an address whose keys you hold. If the wrong balance goes up after a send, check which app you copied the address from before assuming the coins are lost. For fees, features and when each app makes sense, read Robinhood Crypto and Robinhood Wallet.
Networks, tags, and memos
Every Robinhood deposit has to arrive on the coin's own blockchain, and a handful of coins also need a tag or memo next to the address. Pick the network that matches the coin, paste the memo whenever Robinhood's screen shows one, and send only coins Robinhood supports. A transfer cannot be reversed once it confirms (source: Robinhood, Crypto Transfers).
Before you send, confirm three things: the coin you are sending, the network it will travel on, and that Robinhood supports that same network for that coin. Getting the network wrong is the mistake most likely to cost you the whole amount, so treat the network picker on the sending platform as seriously as the address field.
A tag or memo is an extra identifier. Some blockchains use one when many customers share a single deposit address, so the custodian can route each payment to the right account. On the XRP Ledger, a destination tag marks who a payment is for at the receiving address (source: XRP Ledger, Source and Destination Tags). If Robinhood asks for a tag or memo and you leave it out, your deposit will not be credited.
Robinhood requires the extra field, or limits deposits, for these coins (source: Robinhood, Crypto Transfers):
| Coin | What to copy along with the address |
|---|---|
| XRP | A destination tag, which is numbers only |
| Hedera (HBAR) | A memo; the address itself is an account ID such as 0.0.123456 |
| Stellar Lumens (XLM) | A memo, for standard addresses that start with G |
| Cosmos (ATOM) | A memo; addresses start with "cosmos" |
| Zcash (ZEC) | Deposits are unsupported, so do not send ZEC to Robinhood |
Copy the tag or memo from the same Robinhood screen as the address, every time. A tag saved from another platform belongs to that platform's own customer records, so it cannot identify you at Robinhood.
Zcash works in one direction only. You can withdraw ZEC from Robinhood to a transparent address that starts with t, yet Robinhood accepts no ZEC deposits, so ZEC you hold elsewhere has to stay there or go to a wallet that supports it.
Coins Robinhood does not support can be lost permanently if you send them to a Robinhood address. NFTs sent to a Robinhood Ethereum address face the same risk, because Robinhood does not support NFTs at this time (source: Robinhood, Crypto Transfers). Send only the coin you opened the Receive screen for. Address formats for every supported coin are in Robinhood crypto supported networks, and what a blockchain address is explains the 0x account format.
How long does a Robinhood crypto deposit take?
A Robinhood crypto deposit is credited once the blockchain reaches the number of confirmations Robinhood requires for that coin and a short security review clears. Under normal conditions Bitcoin needs 3 confirmations, about one hour. Ethereum and ERC-20 tokens such as USDC need 30 confirmations, about five minutes (source: Robinhood, Crypto Transfers).
A confirmation is one more block added to the chain after the block that holds your transaction. Each blockchain produces blocks at its own pace, which is why the waits below range from under a second to several hours:
| Coin | Confirmations required | Typical wait |
|---|---|---|
| Bitcoin (BTC) | 3 | About 1 hour |
| Ethereum (ETH) and ERC-20 tokens, including USDC | 30 | About 5 minutes |
| Bitcoin Cash (BCH) | 15 | About 3 hours |
| Dogecoin (DOGE) | 20 | About 20 minutes |
| Litecoin (LTC) | 12 | About 30 minutes |
| Solana (SOL) and Solana tokens such as BONK and WIF | 1 | About 400 milliseconds |
| XRP | 1 | About 400 milliseconds |
| Ethereum Classic (ETC) | 1,200 | About 6 hours |
| Stellar Lumens (XLM) | 1 | About 5 seconds |
| Hedera (HBAR) | 1 | About 3 to 5 seconds |
| Algorand (ALGO) | 1 | About 3 seconds |
| Cosmos (ATOM) | 1 | About 5 to 7 seconds |
Treat those times as estimates. The required count depends on the coin and on network conditions, it can change over time, and real processing can run longer. After the confirmations, Robinhood reviews each transfer for security, which usually takes a few minutes and on rare occasions longer. The app notifies you as soon as the coins are available (source: Robinhood, Crypto Transfers).
While you wait, the block explorer link Robinhood gives you shows the transaction's live status, including the confirmation count. If the explorer shows more confirmations than the table above and your balance has not moved, the step still running is Robinhood's security review.
Your very first deposit can also wait on enablement, since crypto transfers stay off until the Verify It's You check is approved. That check uses the same tools that protect your login. Two-factor authentication (2FA) asks for two proofs of identity at sign-in: your password, plus a second check tied to something you own. The second source can be a device approval, a one-time code by text message, bank verification, a three-point selfie, or photos of both sides of a valid government ID (source: Robinhood, Verify It's You).
Common deposit mistakes and how to avoid them
Four mistakes cause deposits that never show up: sending on the wrong network, leaving out a required tag or memo, sending to an old Robinhood withdrawal address, and sending a coin or NFT that Robinhood does not support. In each case the blockchain can record a successful transfer while your Robinhood balance stays at zero.
The wrong network is the most expensive. Say you copy your Robinhood Ethereum address, but the sending wallet's network picker is still set to a Layer 2 network, a separate chain that runs on top of Ethereum. You send 0.50 ETH. The Layer 2 explorer shows the transfer to that address, yet Robinhood Crypto stays at zero, because the address you copied was for Ethereum itself. Crypto transfers are final. The Consumer Financial Protection Bureau warned in August 2014 that with virtual currencies, "Mistakes can be extremely costly." (source: CFPB, Risks to consumers posed by virtual currencies). The sending wallet's review screen is your last chance to fix the network.
A missing tag is the next most common. If you send 200 XRP to Robinhood's deposit address and leave the destination tag blank, the XRP Ledger can still accept the payment, because the address itself is valid. Robinhood then has no tag to match the 200 XRP to your account, so the explorer shows success while your balance shows nothing. An empty memo field causes the same result on ATOM, HBAR and XLM (source: Robinhood, Crypto Transfers).
Sending to an old withdrawal address is the third. When Robinhood sends coins out, the blockchain shows a Robinhood-managed address as the sender. That address belongs to Robinhood's operational accounts and is part of a safeguard for your assets. Coins sent back to it will not reach your account (source: Robinhood, Crypto Transfers). Always deposit to the address on the Receive screen.
The fourth is sending something Robinhood cannot credit, such as an NFT or an unlisted coin, which can be lost permanently. Send only the coin you opened Receive for, on the network that matches it.
If the ETH you plan to deposit is on a crypto exchange, these same checks apply to that exchange's withdrawal screen. BloFin is one example: ETH you buy on the ETH/USDT Spot market can be withdrawn on the Ethereum network to the Robinhood address you copied, and the ETH/USDT Spot trading page shows the live price if you want to size the amount before you send.
How to send ETH from BloFin to Robinhood
Sending ETH from BloFin to Robinhood is a BloFin withdrawal and a Robinhood deposit at the same time. You copy the Ethereum address from Robinhood's Receive screen and withdraw ETH from BloFin on the Ethereum network to that address. Robinhood credits it after 30 confirmations and its security review (source: Robinhood, Crypto Transfers).
- In Robinhood, open Ethereum, tap Receive and copy the address.
- On BloFin, make sure you hold the ETH you want to send. If you hold USDT, buy ETH on the ETH/USDT Spot market first.
- Start an ETH withdrawal on BloFin and choose Ethereum as the network.
- Paste the Robinhood address and compare its first six and last four characters with the Receive screen.
- Enter the amount, check the network fee BloFin quotes for the withdrawal, and confirm.
- Watch the Ethereum transfer history in Robinhood until the coins show as available.
Say you hold ETH on BloFin and want 0.50 ETH to arrive on Robinhood. You copy the Ethereum Receive address in Robinhood, start the withdrawal on BloFin, choose Ethereum, paste the address and enter 0.50 ETH. Plan to hold 0.50 ETH plus the network fee BloFin shows, so the full 0.50 ETH can leave. Once the 30 confirmations and Robinhood's review are done, the transfer history shows 0.50 ETH, and from that point Robinhood holds the keys while you can sell or hold the coins in the app.
The wait that matters on this transfer is Robinhood's, because Robinhood is the receiving side. Its confirmation count and security review decide when the coins are usable. BloFin's own deposit rules apply only to coins arriving on BloFin, so they stop mattering once your ETH leaves the exchange.
The network is the one setting you cannot afford to get wrong. Robinhood's Ethereum address expects ETH on Ethereum itself, so a Layer 2 network chosen by habit on the withdrawal screen sends the coins somewhere Robinhood will not credit. Ethereum is the right choice for ETH, and there is no tag or memo to add. To move coins in the opposite direction, from Robinhood to an outside wallet or exchange, follow how to withdraw crypto from Robinhood.
Looking to send ETH from BloFin to a Robinhood Receive address? To get started, you'll need to first create a BloFin account, fund your account with cryptocurrency, and navigate to the ETH/USDT Spot trading page.
Frequently asked questions
Why did my Bitcoin deposit address change on Robinhood?
Robinhood changes the deposit address for Bitcoin, Bitcoin Cash, Dogecoin and Litecoin after each deposit for privacy, so that outsiders cannot easily tie your activity to one address. A transfer already sent to your previous address still credits if Robinhood accepts it, because old addresses stay attached to your account. Generating a new address does not cancel a transfer in progress. Use the new one for your next deposit (source: Robinhood, Crypto Transfers).
Does Robinhood charge a fee to receive crypto?
Receiving crypto on Robinhood is free. The sending side pays the network fee, and Robinhood keeps none of it, because the full fee is collected by the blockchain network. When you later send coins out of Robinhood, the estimated fee is added to your amount: sending 100 DOGE with a 1 DOGE fee moves 101 DOGE in total, while Send All takes the fee out of the total (source: Robinhood, Crypto Transfers).
Is there a limit on crypto deposits to Robinhood?
Crypto deposits to Robinhood are unlimited. Withdrawal limits are a separate matter: they depend on your recent account activity, can change daily, and cannot be raised by request. You can see your current limits in the app under Account (the person icon), then Menu (three bars), then Crypto, which is worth checking before you plan a later withdrawal (source: Robinhood, Crypto Transfers).
Can I reuse an old Robinhood deposit address?
Your ETH and ERC-20 deposit address stays the same over time, and old addresses for other coins remain tied to your account. Robinhood still suggests asking for a fresh address on every receive, and warns that addresses copied from your history or from a block explorer may be outdated. Opening Receive takes seconds, so copy the address fresh for every deposit (source: Robinhood, Crypto Transfers).
What happens if I send an NFT or unsupported coin to Robinhood?
An NFT or unsupported coin sent to a Robinhood address may be lost, and the transfer cannot be reversed. Robinhood does not support NFTs, so even though NFTs live at Ethereum addresses, there is nothing in the app to credit one. Robinhood also does not support airdrops or forks; to claim one, keep the related coins in an external wallet that supports it (source: Robinhood, Crypto Transfers).
Why is cost basis missing after I deposit crypto?
Transferred crypto arrives without purchase details, so Robinhood has no cost basis for it. Until you add the cost basis yourself, realized profit and loss and average cost cannot be calculated for those coins. After you enter it, both figures include the deposit, and any fees you add to the cost basis are counted in those calculations. Use your records from the platform where you first bought the coins (source: Robinhood, Crypto Transfers).
Can I cancel a crypto deposit after sending it?
A crypto deposit cannot be canceled once it is sent. Transfers are final and cannot be reversed, even by Robinhood, so the only time to fix an error is before you submit on the sending platform. If a deposit seems missing, check the block explorer first: a confirmed transfer on the right network usually just needs Robinhood's security review to finish (source: Robinhood, Crypto Transfers).
Which states can deposit crypto to Robinhood?
Robinhood Crypto transfers, including deposits, are available in every US state, plus the District of Columbia, Puerto Rico and the US Virgin Islands. A few transfers on Robinhood Chain are restricted by location: CASHCAT, ETH and USDG on Robinhood Chain cannot currently be transferred in New York, and that restriction covers those assets on Robinhood Chain only (source: Robinhood, Crypto Transfers).
Researched and written by the BloFin Academy editorial team with AI-assisted drafting. Updated October 2026. Primary sources: Robinhood's support articles on crypto transfers, Verify It's You, Robinhood Wallet, and sending and receiving crypto in Robinhood Wallet, the Ethereum accounts documentation, the ERC-20 token standard, XRP Ledger destination tags, and the CFPB August 2014 consumer advisory on virtual currencies. All facts independently verified against cited documentation current as of September 2026.
This article is educational and general in nature, not financial or investment advice. Cryptocurrency transfers are irreversible, balances can be lost to wrong addresses or networks, and deposit processing times and coin support can change. Nothing here is a recommendation to buy, sell, or hold any asset. Do your own research, and consider a licensed professional before making financial decisions. BloFin does not provide investment advice.