Robinhood Crypto in Maryland: An Honest Assessment

Yes. Robinhood Crypto accepts customers with a Maryland address, and Maryland residents can buy, hold, sell and — since the wallet rollout — withdraw supported assets to self-custody.

What Maryland residents cannot do on Robinhood is the same thing they cannot do anywhere else in the state: stake. That restriction is not Robinhood's choice. It follows the 2023 order from the Maryland Securities Commissioner that shut down consumer staking services for state residents, and Coinbase, Kraken and Crypto.com are all in the same position. Our staking page covers the background.

Robinhood's crypto offering also differs from a dedicated exchange in ways that have nothing to do with Maryland. The asset list is shorter. Advanced order types and on-chain features are limited. And the pricing model is fundamentally different, which is the subject of the next section and the reason this page exists.

One structural note worth knowing: Robinhood acquired Bitstamp, one of the oldest continuously operating crypto exchanges, in 2025. That gave the group considerably more exchange infrastructure and institutional depth than it had before, though the retail Robinhood Crypto product and Bitstamp remain distinct offerings.

This is the part Robinhood's marketing does not lead with, and it is not a scandal — it is simply how the business model works. But you should understand it before deciding.

Robinhood does not charge a per-trade commission on crypto. Instead, the price you are quoted incorporates a spread — a margin between what Robinhood pays and what you pay. There is also a small regulatory fee on certain transactions. The spread is disclosed in Robinhood's own documentation; it is just not a number that appears on your order screen as a line item.

The comparison that matters:

How to check it yourself in thirty seconds. Open Robinhood and note the quoted price for the asset you want. Open any independent price source — a major exchange's order book, or a price aggregator — and compare. The difference is what you are paying. Do this a few times at different hours and you will have a far better sense of Robinhood's real cost to you than any review can give.

None of this makes Robinhood a bad choice. It makes it a choice you should make with your eyes open, particularly if you intend to trade frequently rather than buy occasionally.

There is a real case for it, and we would rather make it properly than dismiss the platform.

You already have a Robinhood brokerage account. This is the strongest argument by a distance. One login, one tax document covering stocks, options and crypto, one place to see everything. For a Maryland filer, that consolidation has genuine value — our tax page explains why basis records matter more here than in states with a preferential long-term rate, and a single consolidated statement is worth real accountant hours.

You buy small amounts frequently. Fractional purchases from a dollar, no commission line, and a recurring-buy feature make dollar-cost averaging genuinely frictionless. Somebody putting away $25 a week is not going to be materially harmed by a spread.

You want simplicity over optionality. Robinhood's interface is the easiest of any platform we looked at. If the alternative is not buying at all because a Kraken Pro order book feels intimidating, Robinhood is straightforwardly the better outcome.

You are new and nervous. The shorter asset list is arguably a feature. Twenty-five well-known assets is a healthier menu for a beginner than three hundred, most of which will not exist in five years.

Who it does not suit: anyone trading actively enough for the spread to compound; anyone who wants assets outside a short list; anyone who wants advanced order types or on-chain interaction; and anyone placing a genuinely large single order, where an OTC desk or a limit order on a proper book will save serious money.

Four points that apply to a Robinhood user specifically because they live here.

1. Staking is off, and it is not coming back this month. The 2023 Maryland Securities Commissioner order applies to consumer staking services generally. Legislation in the 2026 session would clarify the position, but until something is enacted and platforms re-enable the feature, a Maryland Robinhood user has no yield option.

2. Your gains are ordinary income in Maryland. No long-term capital gains discount exists at state level. Add your county piggyback rate — currently roughly 2.25% to around 3.3% — and, from tax year 2025, a 2% surcharge if your federal AGI exceeds $350,000. Frequent trading is punished harder in Maryland than in most states.

3. Verify the licence like any other platform. Robinhood's crypto entity, like every platform serving Maryland customers, operates under the state's money transmission framework. Look it up on NMLS Consumer Access. This is not a comment on Robinhood specifically — it is a habit worth having for every platform, every time.

4. Withdraw to self-custody for anything long term. Robinhood now supports crypto withdrawals for supported assets, which was not always the case. Balances on any platform are not FDIC or SIPC insured in respect of crypto, whatever protections apply to the securities side of your account. If you intend to hold for years, move it. Our wallet guide covers how.

Against the platforms a Maryland reader would realistically consider instead.

Versus CEX.IO. CEX.IO gives you a published fee schedule starting around 0.25% and a real order book, plus a Maryland money transmitter licence that is easy to verify under NMLS ID 1804170. Robinhood gives you consolidation with your stock portfolio. If price transparency matters more than consolidation, CEX.IO wins.

Versus Coinbase. Coinbase's Advanced Trade tab is cheaper than Robinhood's spread for most order sizes, and the asset list is far longer. Coinbase's simple buy screen is not. Both have staking switched off in Maryland.

Versus Kraken. Kraken Pro is the cheaper venue and has the strongest security track record of any large US exchange. It is also less friendly to a first-time buyer. If you plan to hold for years and care about custody history, Kraken is the more serious choice.

Versus a Maryland kiosk. Not a real comparison. Robinhood's spread is a fraction of what a machine charges. If you have a bank account, there is no scenario where a kiosk beats Robinhood on price.

Our full top 10 comparison ranks all of these for Maryland specifically, including the staking column that catches people out.