How to transfer Crypto from Robinhood to Coinbase?

If you have invested in crypto through Robinhood and now want to transfer money into Coinbase or any another wallet, then you have come to the right place. Robinhood launched crypto trading in the year 2018, and it has since become an extremely popular platform for novices because of its user-friendly interface as well as zero commissions. Although Robinhood provides easy trading on crypto currencies such as Bitcoin, Ethereum, and Dogecoin but it did not initially have an option that would allow customers to transfer crypto from the platform. The year 2022 saw Robinhood has finally introduced a cryptocurrency wallet that allows users to transfer their cryptocurrency to other wallets, for instance Coinbase.

Robinhood makes it simple the transfer of cryptocurrency. Simply choose the currency you wish to send from the drop-down list and click 'Send. The transaction fee may be applicable and it is important to ensure that the recipients' addresses are in line with that of the cryptocurrency you are sending. In addition, prior to withdrawing your Robinhood cryptocurrency to a third-party wallet It is required by law that you verify your identity. To begin the process, launch the Robinhood app or go to the settings page on the website where you can choose "Identity Verification. So, let’s begin and learn more about how to transfer crypto to Robinhood.

What is the Robinhood's Crypto Wallet?

The Robinhood crypto wallet is different from normal trading and buying of cryptocurrency on Coinbase. It is essential to enable and configure an account on your Robinhood crypto wallet prior to making any transfers to other platforms such as Coinbase. When you enable you to activate your Robinhood cryptocurrency wallet you are in the control of your private keys, and you can transfer crypto into as well out of Robinhood as opposed to traditional in-app purchasing and selling which Robinhood is essentially "holds" your crypto for you.

How to Transfer Crypto from Robinhood to Coinbase?

To transfer crypto from Robinhood to wallet, you need to take the steps mentioned below:

·         First of all, you need to set-up a Robinhood account and activate the Robinhood cryptocurrency wallet.

·         After this get your wallet's address from Coinbase to determine where you will be able to send your cryptocurrency

·         Once you have got the Coinbase account it is now time for you to move your cryptocurrency from Robinhood

·         At last, recheck all the details and confirm the transfer.

What are the Robinhood Crypto Transfer Limits?

Robinhood sets certain limits on the amount of cryptocurrency you can move from the platform:

·         The Robinhood crypto transfer limit is $5,000 of crypto each day.

·         Robinhood is not liable for charges for the transfer of crypto however, it is important to remember that there could be fees for network connections, which are called "gas fees," depending on the cryptocurrency.

FAQ

How long does it take to transfer crypto from Robinhood to Coinbase?

The crypto transfer from Robinhood to Coinbase generally take around 30 minutes.

How do I set up my Robinhood crypto wallet?

Here are the simple steps to set-up Robinhood cryptocurrency wallet:

·         First of all, open the Robinhood app

·         Go the "Activate Crypto Wallet" and complete the verification steps.

·         Set up two-factor authentication (optional however recommended) for additional security.

I sold crypto on Robinhood, where is my money?

If you sell your cryptocurrency through Robinhood the proceeds will be added to your purchasing power instantly. But you might need to wait for up to 5 business days for funds to be credited before you can transfer the money into your account at the bank.

Why can't I withdraw my crypto from Robinhood?

If you are not able to withdraw your crypto, be sure that your Robinhood crypto wallet is in use and the cryptocurrency you would like to transfer is accepted. In addition, make sure that you have not exceeded the daily limit for withdrawals of $5,000.