A concerned Reddit user who bought XRP at $2.50 asked the community whether holding the asset on Robinhood was a mistake, especially if XRP were to rally again. The responses were varied, but many shared strong warnings and better alternatives based on firsthand experience.
Many users pointed to past account restrictions and limited wallet access as red flags. One user said, “Robinhood locked my account, and it took years to regain access,” urging others to avoid platforms that restrict control during critical market moments.
Another commenter mentioned Robinhood’s controversial decision in 2021 to halt buying of GameStop and AMC stocks. This move led many to believe Robinhood was protecting hedge funds over retail investors, damaging its reputation in the crypto and stock trading communities.
Even though Robinhood doesn’t charge fees for simply holding XRP, users felt that ease of use isn’t worth the trade-off if the platform fails to offer control when it matters most.
Redditors frequently recommended Uphold and Kraken as better alternatives.
Some also discussed Coinbase, pointing out that its fees are around 0.0184%, which could make it a solid long-term option if you’re focused on cost efficiency.
A few users defended Robinhood, noting that it’s convenient for beginners and doesn’t charge fees for simply holding crypto. They also mentioned it pays out reliably and is still useful for small trades.
However, even among supporters, there was an underlying understanding that Robinhood is not suitable for serious or long-term crypto investors.
The community largely agreed on this core principle:
Don’t leave your assets sitting on exchanges.
If you’re planning to hold XRP for the long term:
Some users did mention that even cold wallets and off-ramps can experience issues, but self-custody is still considered the safest route, especially during market surges or crashes.
Reddit users are cautious due to Robinhood’s history of account restrictions, limited wallet access, and past controversial decisions (like halting GameStop trades in 2021). They fear losing control or being locked out of assets during volatile market periods, prioritizing control over convenience.
The main concerns include limited control over assets, lack of full wallet access (preventing withdrawals to personal wallets), and the risk of account restrictions during high market volatility. Users worry about potential inability to sell or move XRP if the platform falters during a surge.
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