Transfer From Robinhood to Coinbase
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Thanks to its intuitive interface, the Robinhood platform has swiftly gained a following throughout the whole United States.
Coinbase is a top choice for buyers and sellers of cryptocurrency, investors in digital assets, and holders of tokens because to its wide range of services and low fees.
Customers who sign up for Robinhood may utilise the brokerage or cryptocurrency exchange’s other capabilities in addition to managing their money and other Robinhood assets through an account they set up.
But because of Robinhood’s restrictions, most cryptocurrency investors and traders will feel more secure on specialist crypto platforms.
You’ll learn all you need to know about the following topics in today’s post:
How to transfer from Robinhood to Coinbase?
Moving your coins from Robinhood to Coinbase: a step-by-step guide
Is it possible to send money straight from Robinhood to Coinbase?
Considerations for moving cryptocurrency across exchanges.
Robinhood Crypto vs. Coinbase
Many people find buying cryptocurrency, sending cryptocurrency to other services, and withdrawing cryptocurrency via Coinbase to be the most convenient experience possible.
The Robinhood app isn’t designed specifically for bitcoin purchases or sales, but it does a sufficient job in those capacities.
Despite this, Robinhood’s support for trading cryptocurrencies is typically somewhat restricted.
Due to the novelty of Robinhood’s crypto transfer features, you may experience roadblocks while trying to make a purchase or a sale of cryptocurrency.
Both systems are centralised, therefore in order to add a payment method to a new account, customers need to verify their identity by providing their email, physical address, and phone number.
Transfer Crypto Out of Robinhood
Robinhood Cryptocurrency Ownership has sparked much discussion.
We should start by pointing you that Robinhood crypto wallets did not exist until late in 2021.
While it was possible to buy cryptocurrency with a Robinhood account, consumers did not manage their own digital wallet.
For this reason, Robinhood is introducing a new cryptocurrency wallet that will enable customers withdraw any amount of their cryptocurrency holdings from the platform.
Problem is, not everyone has access to this cutting-edge crypto wallet.
Thus, users can’t always send money to one another instantly.
There are just two options left:
You now have access to a cryptocurrency wallet, from which you may effortlessly move money to Coinbase or a cold storage wallet;
You must liquidate your cryptocurrency holdings by selling them for fiat currency, withdrawing the funds from Robinhood, and transferring them to Coinbase.
How to Transfer from Robinhood to Coinbase
The following instructions apply if you are able to withdraw your cryptocurrency holdings from Robinhood.
Don’t worry; we’ll walk you through the process of exchanging your Robinhood cryptocurrency for US dollars so you may deposit it in your bank account and then transfer it to Coinbase.
Step 1: Set Up Your Coinbase Account
To begin, you will need to sign up for an account with Coinbase and take the necessary steps to authenticate your identity on the site.
Keep in mind that if you do not successfully complete the verification, your account will be severely restricted.
Visit Coinbase.com, go to the “Account Creation” tab, start the signup process from the choices box, and ensure that your profile is completely set up and ready to use.
Step 2: Find the Coinbase Wallet of the Crypto You Must Receive
The next step is to narrow down your options to the coin you want to transfer from Robinhood to Coinbase.
Never forget that the network and the currency must be the same else your money might disappear.
The lack of various crypto assets available for trading on Robinhood is something users should be aware of.
Robinhood does really allow users to purchase Bitcoin, Litecoin, Ethereum, and other cryptocurrencies by just clicking the “Trade” button.
However, Robinhood has extremely few options overall.
Visit this page: Robinhood Crypto List to see the current market price, trading volume, number of trading days, and other data pertaining to each cryptocurrency.
Regardless, use Coinbase to get the cryptocurrency address, and always have a copy of it on hand in the clipboard.
Step 3: Access Your Cryptocurrency Account at Robinhood
Quick, go over to Robinhood. Follow your regular procedure for logging in by inputting your login details. You have the option of doing this in app or on the full website.
Step 4:Choose the Crypto Assets You Wish to Transfer
You may send a coin by going to your Assets page and clicking on it.
Let’s pretend you’re planning a Bitcoin transfer. If you choose Bitcoin, Robinhood will immediately update to reflect your current Bitcoin balance.
The platform will then prompt you to enter the address of the Coinbase App receiving wallet before sending any funds.
Tape it on, and if everything looks OK, scroll down to see how much it will cost.
Step 5: Have Money Deposited into Your Coinbase Crypto Wallet
When you are ready to transfer money from Robinhood to Coinbase and have double-checked that everything is correct, click the “Send” button.
It bears repeating that Robinhood’s wallet function isn’t currently accessible to all users, so you may not be able to use it.
Alternatively, you may get your Fiat money out of Robinhood and into your bank account.
Imagine you want to make a withdrawal from Robinhood but you don’t have access to your wallet.
In this instance, your best bet is to withdraw funds from Robinhood and transfer them to Coinbase.
Here are the measures to take:
Create a Robinhood account and link a bank account to it.
To exchange your cryptocurrency (Bitcoin, for example), visit the Sell Page.
for hard cash such as the Euro or the Dollar;
Robinhood allows you to initiate a bank withdrawal and receive a bank transfer directly into your account.
Read our related article before you attempt to withdraw money from Robinhood and lose your mind in the process.
The same bank account must now be linked to Coinbase.
You may add money to your Coinbase account via your bank, credit card, or debit card.
To get the necessary cryptocurrency, you must first deposit US Dollars into your Coinbase account.
Now you may use KuCoin to store your assets, make cryptocurrency purchases, or anything else you want to do with your Coinbase funds.
We understand that this is a time-consuming and expensive endeavour, but you should know that Robinhood’s crypto wallet feature, although not accessible to all users, might be your best bet if none of the other options pan out.
View our articles for further details on using Coinbase and Robinhood.
FAQ On Transfer From Robinhood to Coinbase
Can I Move Crypto Coins from Coinbase to Coinbase Pro?
The answer is yes. If you are a regular crypto trader and have received funds from Robinhood to Coinbase, you may then transfer those funds to Coinbase Pro.
Can I move my crypto from Robinhood to Coinbase?
Do Coinbase and Robinhood Work Together? Money can’t be moved into or out of Robinhood. You may use Robinhood to buy cryptocurrency using your US dollar bank account. You can’t spend or spend elsewhere else until you sell your coins first.
Can you transfer crypto from Robinhood?
Using the wallet, you may make instantaneous cryptocurrency exchanges inside the Robinhood platform (website or app). Follow these steps to transfer cryptocurrency to a wallet: Visit the website of the coin you want to transmit. Just hit the Send button.