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Looking to move your cryptocurrency holdings from Robinhood to Coinbase? Here’s a step-by-step guide on how to do it.
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Introduction
So you’ve decided to take the plunge and invest in some cryptocurrency. Congratulations! Now it’s time to learn how to transfer your crypto from Robinhood to Coinbase so you can start trading. This process is actually very simple and only takes a few minutes. Let’s get started.
What is Robinhood?
Robinhood is a commission-free stock and cryptocurrency trading app that allows users to buy and sell cryptocurrencies, as well as stocks, ETFs, and options. Unlike traditional brokerages, Robinhood does not charge commission fees, making it a popular choice for investors who trade frequently. While Robinhood does not currently support the withdrawal of cryptocurrencies from the platform, it is possible to transfer crypto from Robinhood to Coinbase. In this article, we’ll show you how to do just that.
What is Coinbase?
At it’s simplest, Coinbase is a place to buy, sell, and hold cryptocurrencies. You can think of it like a cryptocurrency exchange, but it also has a wallet built in. This means you can use Coinbase to buy crypto with fiat currency (like USD), and then store it on Coinbase or transfer it to another wallet. Coinbase is one of the most popular cryptocurrency exchanges and allows you to buy/sell/store Bitcoin, Ethereum, Litecoin, and more.
How to Transfer Crypto from Robinhood to Coinbase
If you are looking to move your crypto from Robinhood to Coinbase, there are a few things you need to know. In this article, we will guide you through the process of transferring crypto from Robinhood to Coinbase. We will also discuss the benefits and drawbacks of each platform.
Step 1: Set up a Coinbase account
Before you can transfer crypto from Robinhood to Coinbase, you need to set up a Coinbase account. To do this, go to the Coinbase website and click “sign up.” Once you have completed the sign-up process, you will be able to log in to your Coinbase account.
Step 2: Link your Robinhood account to Coinbase
In order to transfer crypto from Robinhood to Coinbase, you will need to link your Robinhood account to your Coinbase account. To do this, log in to your Coinbase account and click on “Settings.” On the Settings page, scroll down to the “Linked Accounts” section and click on “Add an Account.” From the list of supported providers, select Robinhood and follow the instructions onscreen.
Step 3: Initiate the transfer from Robinhood
Once your Robinhood and Coinbase accounts are linked, you can initiate the transfer of crypto from Robinhood to Coinbase. To do this, log in to your Robinhood account and go to the “Transfer” page. On the Transfer page, select “Crypto” as the type of asset you want to transfer. Then, select “Coinbase” as the destination for the transfer. Enter the amount of crypto you want to transfer and confirm the details of the transfer. Once you have confirmed that everything is correct, click “Submit.”
Your crypto will typically be transferred within a few minutes. Once it has been transferred, it will appear in your Coinbase account.
Step 2: Set up a Robinhood account
Robinhood is a commission-free stock brokerage that offers investors the ability to buy and sell stocks, ETFs, options, and cryptocurrencies. In order to invest in cryptocurrencies on Robinhood, you’ll first need to set up a Robinhood account. To do this:
1. Go to the Robinhood website and click “Sign Up” in the top right corner.
2. Enter your personal information and click “Create Account”.
3. Once your account is created, you’ll need to verify your identity by providing your Social Security number and other personal information.
4. After your identity is verified, you’ll be able to link a bank account or debit card so you can deposit money into your Robinhood account.
Step 3: Connect your Robinhood and Coinbase accounts
Now that you have both a Robinhood and Coinbase account, you need to link them together! Here’s how to do it:
1) On Robinhood, go to the settings tab (it’s the gear icon in the upper-right corner).
2) Scroll down to “Linked Accounts” and tap on it.
3) Press the “Add Account” button in the upper-right corner.
4) Find Coinbase in the list of available brokers and select it.
5) Follow the instructions to log in to your Coinbase account and authorize Robinhood to access it.
6) Once you’ve linked your accounts, you can transfer crypto from Robinhood to Coinbase!
Step 4: Transfer your crypto from Robinhood to Coinbase
In order to move crypto from Robinhood to Coinbase, you will need to first deposit it into your Robinhood Crypto account. From there, you can use our free and easy withdrawal tool to send your crypto directly to Coinbase.
Here’s how to do it:
1. Log in to your Robinhood Crypto account and navigate to the Withdraw page.
2. Enter the amount of crypto you’d like to withdraw and select Coinbase from the list of available wallets.
3. Enter your Coinbase account email address and click Withdraw.
4. You will now see a confirmation screen with the details of your transaction. Double check that everything looks correct, then click Withdraw once more to confirm.
Your crypto will now be on its way from Robinhood to Coinbase! Depending on network activity, it may take a few minutes for your transaction to complete. Once it does, you’ll be able to see yourcrypto in your Coinbase account.
Conclusion
In conclusion, it is possible to transfer crypto from Robinhood to Coinbase. However, there are a few things to keep in mind, such as the fact that you may have to sell your crypto first on Robinhood, and then buy it again on Coinbase. Additionally, it is important to note that Coinbase may not support all the coins that Robinhood does. Nevertheless, by following the steps outlined in this guide, you should be able to successfully transfer your crypto from Robinhood to Coinbase.
