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Looking to sell your crypto on Robinhood? Here’s a step-by-step guide on how to do it.
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Introduction
Robinhood is a commission-free investing platform that allows you to buy and sell cryptocurrency. In order to sell your crypto, you’ll need to have a Robinhood Crypto account. To sign up for a Robinhood Crypto account, you’ll need to:
1. Be a resident of the United States
2. Be 18 years or older
3. Have a valid email address
4. Have a valid Social Security Number
5. Have a supported device
What is Robinhood?
Robinhood is a commission-free stock trading app that lets you buy and sell stocks, ETFs, options, and cryptocurrencies. With Robinhood, you can trade most stocks and ETFs listed on the Nasdaq, New York Stock Exchange (NYSE), and Robinhood Gold. The app also offers a gold subscription that gives you access to extended-trading hours and margin investing. Robinhood does not support mutual funds or bonds.
When you open a Robinhood account, you’ll need to deposit money before you can start trading. You can do this by linking your bank account or adding a debit or credit card. Once your account is funded, you can start buying and selling securities commission-free.
If you want to trade on margin, you’ll need to sign up for Robinhood Gold. With Robinhood Gold, you’ll get access to extended-trading hours and up to 2x leverage on certain securities. Margin investing involves risk and isn’t suitable for all investors. Please review the Disclosures page for more information about risks associated with margin investing.
How to Sell Crypto on Robinhood
Robinhood is a commission-free stockbroker that offers cryptocurrency trading. You can buy and sell crypto on Robinhood with no fees. In this article, we will show you how to sell crypto on Robinhood.
Step One: Log into your account
The first thing you need to do is log into your Robinhood account on their website or mobile app. Once you’re logged in, go to the homepage and look for the search bar. Type in the name of the cryptocurrency you want to sell, such as “Bitcoin” or “Ethereum.”
Once you find the cryptocurrency you want to sell, click on it and a new page will open. On this new page, you should see information about the cryptocurrency, including the current price and a chart tracking its price over time.
To the right of this information, there is a button that says “sell.” Click on this button and a new window will pop up.
Step Two: Find your crypto asset
In order to find your crypto asset, go to the Markets tab and type the name or ticker of your asset in the search bar. Then, select it from the drop-down menu. For this example, we’ll be using Bitcoin (BTC). Note that you can also search for fractional shares, such as “BTC.”
If you own any crypto on Robinhood Crypto that isn’t Bitcoin, Ethereum, Bitcoin Cash, Litecoin, or Ethereum Classic, it will be listed under the Other section.
Step Three: Place an order to sell
Now that you know how to transfer crypto to your Robinhood account and have decided which coin you’d like to sell, it’s time to place an order. To do this:
1) Tap the magnifying glass in the upper-right corner of your home screen to search for the cryptocurrency you want to sell.
2) Tap the cryptocurrency name from the list of search results. This will bring up that coin’s detail page.
3) On the cryptocurrency detail page, tap “Sell.”
4) On the next screen, enter the amount of crypto you’d like to sell in either fiat currency (like USD) or cryptocurrency. Then, tap “Preview Sell” in the lower-right corner.
5) Review the details of your sale on the following screen and tap “Sell {cryptocurrency}” when you’re ready to place your order.
Conclusion
Now that you know how to sell crypto on Robinhood, you can cash out your investments and take advantage of market conditions. Keep in mind that you may need to pay taxes on your gains, so it’s important to consult with a financial advisor before making any decisions. With the right approach, selling crypto can be a simple and lucrative way to invest in the digital currency market.
