Robinhood vs Strike — Head-to-Head Custody Comparison

An independent, data-driven comparison of Robinhood and Strike across security, insurance, fees, regulatory compliance, and more.

Verdict

Quick Verdict

Robinhood scores 6.9 vs Strike's 5.7. Robinhood leads in 5 of 8 categories.

Robinhood is better suited for Stock traders adding crypto, Fee-conscious traders, Beginners. Strike is better suited for Lightning Network users, Fee-conscious buyers, International remittance users.

6.9

FairCustody Score

Robinhood

5.7

Below AverageCustody Score

Strike

Scores

Score Comparison

Weighted scores across all 8 custody criteria.

Criterion	Weight	Robinhood	Strike	Winner
Security	20%	7.0	6.5	Robinhood
Insurance	15%	6.0	3.0	Robinhood
Regulatory	15%	8.5	6.5	Robinhood
Fee Transparency	10%	6.0	7.0	Strike
Track Record	15%	7.0	6.0	Robinhood
Withdrawal Flexibility	10%	7.5	9.0	Strike
Reporting & Audit	10%	8.0	4.0	Robinhood
Counterparty Diversification	5%	2.0	2.0	Tie
Overall Score	100%	6.9	5.7	Robinhood

Visual

Score Radar

Visual overlay of Robinhood and Strike across all categories.

RobinhoodStrike

Deep Dive

Category-by-Category Analysis

A deeper look at how each provider performs in every scoring criterion.

Security (7.0 vs 6.5)

Robinhood uses Exchange-managed custody key management with Majority cold in cold storage and regular penetration testing. Compliance: SOC 2 Type 2. Incident history: 2021 data breach (customer info, not funds). Crypto wallets added later..

Strike uses Exchange-managed custody key management with Not disclosed in cold storage and regular penetration testing. Compliance: N/A. Incident history: No incidents.

Insurance (6.0 vs 3.0)

Robinhood offers SIPC for securities (NOT crypto). Crime insurance for crypto. via SIPC (securities) + crime insurance. SIPC coverage for stocks. Crypto has separate crime insurance.

Strike offers Not publicly disclosed via N/A. Regulated US money transmitter. Custodial for Bitcoin held on platform.

Regulatory (8.5 vs 6.5)

Robinhood holds NASDAQ listed (HOOD), SEC/FINRA registered (securities), State money transmitter licenses (crypto) and is a qualified custodian operating in United States. Publicly traded. SEC registered for securities. State-licensed for crypto.

Strike holds FinCEN MSB, State money transmitter licenses and is not a qualified custodian operating in United States. US-regulated. Focus on payments and Lightning Network.

Fee Transparency (6.0 vs 7.0)

Robinhood charges None in annual custody fees with 0% commission (spread-based ~0.4%) per transaction. Commission-free trading. Revenue from spread and payment for order flow.

Strike charges None in annual custody fees with ~0.0-0.99% (variable spread) per transaction. Among lowest Bitcoin buying fees. Free Lightning withdrawals.

Track Record (7.0 vs 6.0)

Robinhood was founded in 2013 and is headquartered in Menlo Park, CA. AUM: $130B+ in assets under custody (all assets). Incident history: 2021 data breach (customer info, not funds). Crypto wallets added later..

Strike was founded in 2020 and is headquartered in Chicago, IL. AUM: Not publicly disclosed. Incident history: No incidents.

Withdrawal Flexibility (7.5 vs 9.0)

Robinhood withdrawal fees: Network fees. Minimum account: $1 minimum. Supported assets: Bitcoin, Ethereum, 20+ cryptocurrencies.

Strike withdrawal fees: Free via Lightning / Network fees on-chain. Minimum account: No minimum. Supported assets: Bitcoin only.

Reporting & Audit (8.0 vs 4.0)

Robinhood: SOC compliance is SOC 2 Type 2. As a qualified custodian, it meets SEC reporting requirements.

Strike: SOC compliance is N/A. Not classified as a qualified custodian.

Counterparty Diversification (2.0 vs 2.0)

Robinhood is a exchange custody provider. Key management: Exchange-managed custody with option to withdraw crypto to external wallets..

Strike is a exchange custody provider. Key management: Bitcoin purchase and Lightning Network payment app..

Fees

Fee Comparison

Side-by-side fee breakdown for Robinhood and Strike.

Fee Type	Robinhood	Strike
Setup Fee	Free	Free
Annual Custody	None	None
Transaction	0% commission (spread-based ~0.4%)	~0.0-0.99% (variable spread)
Withdrawal	Network fees	Free via Lightning / Network fees on-chain

Robinhood: Commission-free trading. Revenue from spread and payment for order flow.

Strike: Among lowest Bitcoin buying fees. Free Lightning withdrawals.

Features

Feature Comparison

Checklist of features across both providers.

Feature	Robinhood	Strike
23M+ funded accounts	✓	✗
Bitcoin payment rails	✗	✓
Bitstamp acquisition	✓	✗
Clean mobile app	✗	✓
Clean mobile interface	✓	✗
Commission-free trading	✓	✗
Crypto alongside stocks	✓	✗
Crypto wallets with withdrawals	✓	✗
Instant Bitcoin purchases	✗	✓
International transfers	✗	✓
Lightning Network native	✗	✓
Near-zero buying fees	✗	✓

Recommendation

Who Should Choose Which?

Robinhood is better if you…

✓Are a stock traders adding crypto
✓Are a fee-conscious traders
✓Are a beginners
✓Are a us retail investors
✓Want: Commission-free crypto trading
✓Want: Crypto alongside stock portfolio
✓Want: Publicly traded — transparent

Strike is better if you…

✓Are a lightning network users
✓Are a fee-conscious buyers
✓Are a international remittance users
✓Are a bitcoin payment users
✓Want: Lowest Bitcoin buying fees
✓Want: Lightning Network integration
✓Want: Instant purchases

FAQ

Frequently Asked Questions

Is Robinhood or Strike better for Bitcoin custody?

Robinhood scores 6.9 vs 5.7 in our weighted Custody Score. Robinhood leads in 5 of 8 scoring categories. However, the best choice depends on your specific needs: Robinhood is best for Stock traders adding crypto and Fee-conscious traders, while Strike suits Lightning Network users and Fee-conscious buyers.

What is the difference between Robinhood and Strike?

Robinhood is a exchange custody provider, while Strike is a exchange custody provider. Robinhood excels in Regulatory, whereas Strike is strongest in Withdrawal Flexibility.

How do Robinhood and Strike fees compare?

Robinhood charges None annual custody fees with 0% commission (spread-based ~0.4%) transaction fees. Strike charges None annual custody fees with ~0.0-0.99% (variable spread) transaction fees.

Which is more secure, Robinhood or Strike?

Robinhood scores 7.0/10 for security while Strike scores 6.5/10. Robinhood uses Exchange-managed custody key management, and Strike uses Exchange-managed custody.