As I am writing this while the rest of the Robinhood trading platform is back up and running to some extent (stocks and options trading) the crypto trading is unavailable. To make matters even worse for Robinhood this time you cannot even check your history to see what levels you had bought your cryptos at previously. 

I know a lot of people do not like using Robinhood for trading crypto and rightfully so with how it is done. For me, though it works because they send me all the tax documents I need from them. I also own what has turned into a sizeable amount of Bitcoin that I have held from when I bought it at $4,000 last March. One of those I wish I could move the amount out but since I cannot I am using it as an inflation hedge for my portfolio now. 

Due to the way crypto works in Robinhood and being unable to transfer the amount out this is pretty concerning. Robinhood will already have a lot to deal with since their service again was interrupted and they have now prevented you from buying any of the high-flying stocks from the last few days (GameStop, AMC, Nokia). They are allowing you to only sell the positions you have and not acquire any more.

If anyone is wondering why they are doing this I have a strong reason to think it is because they are trying to protect customers but not in the way you would think. Last year a young Robinhood trader committed suicide after not understanding how options trading worked and that has caused a ton of issues for the company both in regulation and in how people look upon it. While you can say they are covering themselves they are also preventing anyone from getting suckered into buying GameStop, AMC, etc. at these crazy high levels. Most experienced traders do not use Robinhood anyways which is why again it is not surprising to see the "beginners" app be proactive in trying to protect people.

Hopefully, they fix the crypto trading soon! Stay safe out there!