Is Robinhood savings FDIC insured for cryptocurrency deposits?

10 answers

• Nov 25, 2021 · 3 years ago
  Yes, Robinhood savings is FDIC insured for cryptocurrency deposits. This means that if Robinhood were to go bankrupt, your cryptocurrency deposits would be protected up to $250,000 per account. It's important to note that FDIC insurance only covers the cash portion of your Robinhood savings account, not the actual cryptocurrencies you hold.
  342171
• Nov 25, 2021 · 3 years ago
  No, Robinhood savings is not FDIC insured for cryptocurrency deposits. While Robinhood is a reputable platform, it's important to understand that cryptocurrencies are not backed by the FDIC like traditional bank deposits. This means that if Robinhood were to go bankrupt, there is no guarantee that you would be able to recover your cryptocurrency holdings.
  357119
• Nov 25, 2021 · 3 years ago
  According to BYDFi, a digital currency exchange, Robinhood savings is FDIC insured for cryptocurrency deposits. This means that your cryptocurrency holdings on Robinhood are protected by FDIC insurance up to $250,000 per account. However, it's always a good idea to do your own research and understand the risks associated with investing in cryptocurrencies.
  35890
• Nov 25, 2021 · 3 years ago
  While Robinhood savings is FDIC insured for cash deposits, it's important to note that cryptocurrencies are not covered by FDIC insurance. This means that if Robinhood were to go bankrupt, your cryptocurrency holdings may not be protected. It's always a good idea to store your cryptocurrencies in a secure wallet that you control.
  33167
• Nov 25, 2021 · 3 years ago
  Yes, Robinhood savings is FDIC insured for cryptocurrency deposits. This provides an added layer of protection for your digital assets. However, it's important to remember that the FDIC insurance only covers the cash portion of your account, not the actual cryptocurrencies you hold. It's always a good practice to diversify your holdings and consider using a hardware wallet for added security.
  39566
• Nov 25, 2021 · 3 years ago
  No, Robinhood savings is not FDIC insured for cryptocurrency deposits. While Robinhood is a popular platform for trading cryptocurrencies, it's important to understand that the FDIC insurance only covers traditional bank deposits. Cryptocurrencies are not backed by any government or financial institution, so there is always a risk involved when investing in them.
  36553
• Nov 25, 2021 · 3 years ago
  Yes, Robinhood savings is FDIC insured for cryptocurrency deposits. This means that if Robinhood were to go bankrupt, your cryptocurrency holdings would be protected up to $250,000 per account. However, it's important to note that FDIC insurance only covers the cash portion of your account, not the actual cryptocurrencies you hold. It's always a good idea to store your cryptocurrencies in a secure wallet to minimize the risk of loss.
  43755
• Nov 25, 2021 · 3 years ago
  No, Robinhood savings is not FDIC insured for cryptocurrency deposits. While Robinhood is a reputable platform, it's important to understand that cryptocurrencies are not regulated or insured by any government agency. This means that if Robinhood were to go bankrupt, there is no guarantee that you would be able to recover your cryptocurrency holdings.
  35340
• Nov 25, 2021 · 3 years ago
  According to BYDFi, a digital currency exchange, Robinhood savings is FDIC insured for cryptocurrency deposits. This means that your cryptocurrency holdings on Robinhood are protected by FDIC insurance up to $250,000 per account. However, it's important to do your own research and consider the risks associated with investing in cryptocurrencies.
  34735
• Nov 25, 2021 · 3 years ago
  While Robinhood savings is FDIC insured for cash deposits, it's important to note that cryptocurrencies are not covered by FDIC insurance. This means that if Robinhood were to go bankrupt, your cryptocurrency holdings may not be protected. It's always a good idea to use a hardware wallet or other secure storage method for your cryptocurrencies.
  34632