Transferring Crypto From Robinhood: Step-By-Step Guide

Transferring crypto from Robinhood to another crypto exchange is possible with the introduction of the Robinhood Crypto wallet.

Users can send and receive crypto by setting up two-factor authentication and verifying their identity.

To transfer crypto, users need to input the wallet address of the receiving account.

If not using the Robinhood Crypto wallet, users may need to liquidate their assets before buying them again on the other app.

The process also involves selling Robinhood assets, transferring funds to a bank account linked to Robinhood, or setting up a new bank account for transfers.

Can You Transfer Crypto From Robinhood?

People often shift crypto from Robinhood to other exchanges due to its limitations.

Robinhood previously lacked crypto send/receive options, but that’s changed.

To transfer with Robinhood, confirm ID and enable two-factor authentication.

Transferring Crypto From Robinhood

Robinhood now offers a crypto wallet. To access it, sign up in the app.

The Robinhood Crypto wallet simplifies asset transfers.

Just enter the recipient wallet address.

Also read: Will Amp Crypto Explode?

Make sure you have an account with the destination wallet (like Coinbase), then deposit to the listed address.

Not using Robinhood’s wallet? Liquidate assets before buying through another app.

Setting Up Robinhood Crypto

If you haven’t yet signed up for Robinhood Crypto, here are the steps to follow to do it:

1. Go to the cryptocurrencies of the main page in the Robinhood app and click on one.
2. Scroll down past the chart and look for the Send button.
3. Click through the information presented until you get to the Get started page and click the button.
4. Click the I acknowledge button after reading the message about protecting your crypto.
5. Follow the instructions to verify your identity. You can use a passport, driver’s license, or other government-issued photo ID.
6. Follow the instructions to set up two-factor authentication by verifying your phone number, email, and setting up an authenticator app.

Selling Robinhood Assets

Selling the cryptocurrency you want to transfer is the first thing you will have to do considering you cannot make a direct transfer.

You can either sell your crypto amounts fully or partially.

Then, you will have to take the following steps depending on whether you are using the web version or mobile version of Robinhood.

Web

1. Go to Robinhood and look for the cryptocurrency you want to sell. Then, go to the details page of that particular cryptocurrency.
2. Check out the options window and click Sell.
3. Enter the crypto dollar amount that you wish to sell.
4. Review the information first to ensure that everything is correct.
5. Submit the sell order.

Mobile

1. Open your app and look for the particular cryptocurrency you want to sell. Then, click Trade.
2. Tap on Sell.
3. Enter the crypto dollar amount that you wish to sell.
4. Now, click on Review. This will let you check out the information to make sure it’s correct.
5. Swipe up in order to submit your request.

After performing the withdrawal, there will be a set period for the trade you made, as well as two extra trading days before you will have the funds ready for withdrawal.

During that time, you won’t be able to move the amount out of your Robinhood account.

Transferring Funds To a Bank Account

Now, it is time to transfer all of your money into the bank account that you linked to your Robinhood account.

In order to do so, you will have to follow certain steps depending on whether you are transferring from web or mobile:

Web

1. Look in the upper right-hand corner and click Account.
2. Now, tap Banking.
3. There is a panel on the right side that you should use in order to start the bank transfer from Robinhood.

Mobile

1. Look in the bottom right corner of your screen and tap on your Account.
2. Then, click Transfers and from there, pick Transfer to Your Bank.
3. Now, pick the bank account that you want to transfer to.
4. Enter the amount that you want to transfer.
5. Click Submit when you are done reviewing whether the information is correct.

Transferring Finds To a New bank Account

Transferring to a new account takes more time due to verification.

Expect a longer process with a new account. Be prepared for timeline changes.

Transfer steps vary based on your bank size.

For transfers to a different bank account than your original Robinhood link, plan accordingly.

Here are the steps you have to take;

1. Look in the bottom right corner of your screen and tap your Account.
2. After that, click on Transfers.
3. Then, tap on Linked Accounts.
4. Click on Add New Account.
5. From here, you can then pick the bank you want to transfer to from the provided list. You will also have the option to search for the bank.
6. Enter the account login information.
7. Pick the account that you wish to link to Robinhood.