Robinhood (NASDAQ: HOOD) is a commission-free stock trading app that also enables cryptocurrency trading. Known for its simplicity and user-friendly design, Robinhood is a favorite among beginner investors. The platform has expanded its crypto services, now offering 12 cryptocurrencies, including a non-custodial wallet for enhanced asset control.
As Robinhood grows its crypto offerings, many users are exploring crypto investments for the first time. To help you navigate this space, we’ve analyzed seven popular cryptos available on Robinhood and whether they’re worth investing in.
| Ticker | Crypto | Price |
|---|---|---|
| BTC-USD | Bitcoin | $20,120 |
| ETH-USD | Ethereum | $1,135 |
| SOL-USD | Solana | $35.87 |
| DOGE-USD | Dogecoin | $0.067 |
| SHIB-USD | Shiba Inu | $0.00001 |
| MATIC-USD | Polygon | $0.52 |
| LTC-USD | Litecoin | $49.68 |
Bitcoin (BTC)
Bitcoin (BTC-USD) is the leading cryptocurrency by market cap and a long-term store of value. Its scarcity—capped at 21 million coins—and secure mining network make it a reliable investment.
Key Takeaways:
- Ideal for long-term holdings.
- Highly secure due to decentralized mining.
- Bull markets often follow its halving events (every four years).
However, the crypto market’s volatility means BTC isn’t risk-free. Avoid allocating a large portion of your portfolio to crypto.
👉 Learn more about Bitcoin’s potential
Ethereum (ETH)
Ethereum (ETH-USD) is the second-largest crypto, known for its smart contract functionality. It powers most decentralized applications (dApps), NFTs, and DeFi projects.
Why Consider ETH?
- Central to Web3 and metaverse development.
- Upcoming "Merge" upgrade could boost efficiency.
- Higher volatility than BTC but with greater upside potential.
Solana (SOL)
Solana (SOL-USD) offers high-speed transactions but has faced network stability issues.
Pros and Cons:
- 👍 Fast and scalable.
- 👎 Frequent outages raise reliability concerns.
- Recent Web3 phone announcement may drive short-term interest.
Dogecoin (DOGE)
Dogecoin (DOGE-USD) is a meme coin with limited utility. Despite Elon Musk’s endorsements, its hype has waned.
Reasons to Avoid DOGE:
- No supply cap, leading to inflation.
- Lacks real-world use cases.
- Highly speculative.
Shiba Inu (SHIB)
Shiba Inu (SHIB-USD) is another meme coin with minimal utility.
Key Points:
- Runs on Ethereum, incurring high gas fees.
- Overvalued at a $5.7B market cap.
- No long-term growth drivers.
Polygon (MATIC)
Polygon (MATIC-USD) aims to scale Ethereum but may lose relevance as Ethereum upgrades.
Considerations:
- Ethereum’s sharding upgrade could reduce Polygon’s need.
- High risk due to competition.
Litecoin (LTC)
Litecoin (LTC-USD) is a Bitcoin fork with faster transactions but lacks innovation.
Why Skip LTC?
- Outperformed by BTC and ETH.
- MimbleWimble upgrade offers little advantage over privacy coins like Monero.
👉 Explore crypto investment strategies
FAQ Section
1. Is Robinhood good for crypto trading?
Robinhood is user-friendly but lacks advanced trading features like staking or wallet transfers for some assets.
2. Which crypto has the most growth potential?
Ethereum (ETH) and Bitcoin (BTC) are the safest bets for long-term growth.
3. Are meme coins like DOGE and SHIB worth buying?
No—they lack utility and are highly speculative.
4. What’s the best crypto for beginners?
Bitcoin (BTC) due to its stability and widespread adoption.
5. Will Polygon survive Ethereum’s upgrades?
Unlikely, as Ethereum’s scalability improvements may reduce Polygon’s necessity.
6. Should I invest in Litecoin?
Not recommended—BTC and ETH offer better long-term prospects.
Final Thoughts: Prioritize established cryptos like BTC and ETH over high-risk altcoins. Always diversify and invest responsibly.