7 Cryptos on Robinhood: Should You Buy?

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Cryptocurrency has become increasingly accessible, especially with platforms like Robinhood simplifying the investment process for beginners. As a commission-free trading app, Robinhood allows users to invest seamlessly in both stocks and digital assets. Its intuitive interface and expanding crypto offerings—now including a non-custodial wallet and support for over a dozen cryptocurrencies—make it an attractive gateway for those new to the crypto space.

With growing interest, many users are asking: Which cryptos on Robinhood are worth buying? In this guide, we’ll analyze seven of the most popular digital assets available on the platform—Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Dogecoin (DOGE), Shiba Inu (SHIB), Polygon (MATIC), and Litecoin (LTC)—to help you make informed decisions based on technology, market trends, and long-term potential.

Bitcoin (BTC): The Digital Gold Standard

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Bitcoin remains the cornerstone of the crypto market. As the first and most widely adopted blockchain, it holds the largest market capitalization and is often referred to as "digital gold." One of Bitcoin’s defining features is its scarcity—only 21 million BTC will ever exist, enforced by a programmed halving event every four years that reduces mining rewards. This built-in deflationary mechanism has historically triggered bull markets following each halving cycle.

Beyond scarcity, Bitcoin’s security is unmatched due to its vast network of miners and decentralized structure. While its price can be volatile in the short term, BTC has consistently recovered and reached new highs over time. For investors seeking a long-term store of value, Bitcoin is a foundational asset.

That said, the crypto market is still relatively young and untested during prolonged macroeconomic downturns. Therefore, while Bitcoin is a strong buy for those with a long horizon, it's wise to allocate only a portion of your portfolio to crypto investments.

Ethereum (ETH): Powering the Future of Web3

Ethereum stands out as more than just a cryptocurrency—it’s a decentralized computing platform that powers smart contracts, NFTs, and decentralized applications (dApps). As the second-largest crypto by market cap, ETH plays a critical role in the evolution of Web3 and the metaverse.

Developers overwhelmingly choose Ethereum as the base layer for new blockchain projects, reinforcing its network effect. Whether you're minting an NFT or interacting with a DeFi protocol, ETH is typically required to pay transaction fees (gas). This utility gives Ethereum strong intrinsic value that goes beyond speculation.

Historically, Ethereum has outperformed Bitcoin during bull runs due to its smaller market cap and higher growth potential. However, it also experiences sharper drawdowns. Recent upgrades like “The Merge” have transitioned Ethereum to a proof-of-stake model, improving scalability and reducing energy consumption—factors likely to boost investor confidence over time.

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For those aiming to maximize long-term returns in the crypto space, Ethereum offers one of the most compelling cases among assets available on Robinhood.

Solana (SOL): Speed vs. Stability

Solana gained rapid popularity in 2021 thanks to its high-speed blockchain, capable of processing tens of thousands of transactions per second at low cost. This scalability made it a favorite among NFT and DeFi developers looking for an alternative to Ethereum’s congested network.

However, Solana has faced repeated network outages, raising concerns about reliability and decentralization. These stability issues have damaged trust among users and developers alike. While Ethereum’s ongoing upgrades may reduce the need for competing Layer 1 blockchains like Solana, the project continues to innovate.

Notably, Solana recently announced plans to launch a Web3 smartphone, designed to integrate crypto wallets, dApps, and decentralized identity directly into hardware. Though ambitious, this move could increase adoption in the short term.

Still, given its track record of downtime and fierce competition, Solana remains a high-risk investment. It may offer upside potential, but investors should proceed with caution and avoid overexposure.

Dogecoin (DOGE) and Shiba Inu (SHIB): Meme Coins With Limited Utility

Dogecoin (DOGE)

Originally created as a joke in 2013, Dogecoin surged in popularity due to celebrity endorsements—most notably from Elon Musk. While DOGE has a loyal community, it lacks technological innovation or real-world utility.

Unlike deflationary tokens, Dogecoin has no supply cap, leading to perpetual inflation as miners produce 10,000 new DOGE per block every minute. This constant issuance pressures its value over time. Moreover, Musk’s influence on DOGE’s price has diminished significantly since 2021.

Without meaningful use cases or scarcity, Dogecoin is not recommended as a serious investment.

Shiba Inu (SHIB)

Shiba Inu launched as a “Dogecoin killer” but operates as an ERC-20 token on Ethereum, meaning it relies entirely on another blockchain. Despite reaching a multi-billion-dollar valuation during the 2021 bull run, SHIB lacks standalone infrastructure or unique functionality.

Transaction costs depend on Ethereum’s gas fees, making micro-transactions impractical. Additionally, SHIB’s massive supply dilutes individual holdings, and its ecosystem developments—like ShibaSwap—have failed to gain significant traction.

With no clear path to sustainable growth, Shiba Inu appears more speculative than strategic.

Polygon (MATIC) and Litecoin (LTC): Facing Competitive Challenges

Polygon (MATIC)

Polygon was designed as a scaling solution for Ethereum, offering faster and cheaper transactions through Layer 2 sidechains. MATIC serves as the native token for staking and governance.

However, Ethereum’s own roadmap—including sharding and Layer 2 integration—aims to solve scalability natively. As Ethereum becomes faster and more efficient, the need for third-party solutions like Polygon may decline.

While Polygon still hosts numerous dApps today, its long-term relevance is uncertain. Investors should view MATIC as a medium-term play rather than a core holding.

Litecoin (LTC)

Once considered the “silver to Bitcoin’s gold,” Litecoin introduced faster block times and lower fees. However, it has failed to innovate meaningfully in recent years.

The MimbleWimble privacy upgrade added some functionality, but privacy-focused coins like Monero already dominate that niche. With no significant competitive advantage and limited adoption growth, Litecoin is unlikely to outperform major cryptos like BTC or ETH.

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Frequently Asked Questions (FAQ)

Q: Is Robinhood a good platform for buying crypto?
A: Yes. Robinhood offers a user-friendly interface, commission-free trading, and increasing support for crypto features like wallets and transfers. However, it doesn’t support all cryptocurrencies or advanced DeFi interactions.

Q: Which crypto should I buy first on Robinhood?
A: Beginners should consider starting with Bitcoin (BTC) or Ethereum (ETH) due to their strong track records, widespread adoption, and long-term growth potential.

Q: Are meme coins like Dogecoin worth investing in?
A: Generally no. DOGE and SHIB are highly speculative with little intrinsic value. They may see short-term spikes due to hype but lack fundamentals for sustained growth.

Q: Can I transfer crypto from Robinhood to an external wallet?
A: Yes. Robinhood now supports external transfers via its non-custodial wallet feature, giving users greater control over their assets.

Q: Will Solana recover from its network issues?
A: It’s possible if developers improve stability and decentralization. However, competition from Ethereum and other Layer 1 blockchains remains intense.

Q: Is Litecoin still relevant in 2025?
A: Litecoin maintains a presence but hasn’t kept pace with innovation seen in other networks. It’s not considered a top-tier investment compared to BTC or ETH.

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