Robinhood supports transfers to other wallets and lets you easily transfer your coins to and from another wallet, and Robinhood is no exception. There are just a few things you'll need to consider before you get to transfer crypto between Robinhood and Coinbase.
Let me show you how you can do this the right way.
- Double-check the address. A single wrong character can result in lost funds.
- Use the correct network. Sending to an incompatible network can cause permanent loss.
- Include any required memo or tag. Some assets need this to complete the transfer.
- Watch for scams. Always verify the source before sending crypto.
How to Transfer Crypto From Robinhood to Coinbase
As mentioned earlier, transferring crypto from Robinhood to Coinbase is very easy and straightforward. You just need to make sure that you've verified your identity and making sure the wallet address is the right one.
To transfer your coins to Coinbase:
- Open the Robinhood app and go to the crypto's detail page
- Tap "Send"
- Paste the crypto address of your Coinbase wallet
- Enter the amount you'd like to send
- Select "Review" then "Submit".
You should receive your crypto in your Coinbase wallet just as soon as the transfer is processed.
The Indirect Way to Transfer Crypto from Robinhood to Coinbase
While the direct route is way more convenient, there's an indirect way to transfer crypto from Robinhood to Coinbase.
You can do so by following the steps below.
Step 1: Selling your Robinhood Crypto Assets
The first step will be to sell the cryptocurrency you want to transfer. Keep in mind that if you sell for a profit, this could result in a taxable event.
You will have the option of selling all or a portion of your cryptocurrency holdings.
How to Sell Robinhood Crypto Assets on the Mobile App
- Find the cryptocurrency you want to sell and tap "Trade".
- Next, click on "Sell"
- Enter the amount of cryptocurrency you want to sell in dollars.
- To double-check that the information is correct, click "Review".
- Finally, swipe up to submit your request.
How to Sell Robinhood Crypto Assets on the Web App
- Find the cryptocurrency you want to sell, then browse to the details page for it.
- In the options window, select "Sell".
- Enter the amount of cryptocurrency you want to sell in dollars.
- Check the information to make sure it's accurate.
- Finally, submit your sell order.
Before your funds are ready for withdrawal, there will be a settling period of one trading day plus two extra trading days. You won't be able to transfer any of that money out of Robinhood during that time.
After those days have passed, the money should be transferred to your bank account.
Step 2: Transferring Robinhood Funds to Bank Account
The next step is to deposit the funds into your bank account, which is linked to your Robinhood account.
Transferring money from Robinhood to your bank account is pretty easy. Here is how it is done:
Transferring Money From Robinhood to Bank on Mobile App
- In the bottom right corner of the screen, click on "Account".
- Select "Transfer to Your Bank" from the drop-down menu under "Transfers".
- Select the bank account to which you want to send money.
- Enter the amount of money you want to transfer.
- Once you've double-checked that the information is correct, click "Submit".
Transferring Money From Robinhood to Bank on Web App
- Select "Account" in the upper right-hand corner.
- Select "Banking".
- Using the panel on the right side, initiate a bank transfer from Robinhood.
- You can equally check out our complete guide to transferring money from Robinhood to a bank account.
Step 3: Setting Up a Coinbase Account
You'll need to transfer the funds to your Coinbase account once they've settled in your bank account. If you already have a Coinbase account, all you have to do now is deposit money from your linked bank account.
If not, here's a step-by-step guide to setting up a Coinbase account. You can create a Coinbase account now and get $10 as free crypto.
Step 4: Deposit Funds to You Coinbase Account
Here are the steps to deposit funds to Coinbase from your linked bank account in the United States once you've set up your Coinbase account:
- Switch to the trading view.
- Select "Deposit under Wallet Balance".
- Choose "USD" as the currency type.
- Select the Bank Account option.
- Choose From and "Add Account" to be routed to the account verification page.
- Plaid allows you to link your bank account to Coinbase.
Step 5: Buying Crypto Assets on Coinbase
The coin you held in Robinhood has now been sold, and the funds have been sent to Coinbase. If you wanted to replicate what you had previously on Robinhood, you would now purchase cryptocurrency on Coinbase.
Coinbase, on the other hand, has a far bigger selection of cryptocurrencies available for trade. It could be an excellent opportunity to learn more about them and diversify your portfolio.
Here's how to buy cryptocurrency on Coinbase:
- Open the Coinbase app or log in to the Coinbase website.
- The Trade tab can be found at the bottom of the app or on the online app.
- Choose the cryptocurrency asset you want to buy.
- At the bottom, click the blue Trade button.
- Choose the option to pay with cash.
- Enter the amount you want to spend in dollars.
- Click on the blue Preview Buy button
- After reviewing the details and fees, confirm the order.
Final Thoughts
Getting your crypto assets out of Robinhood is a real hassle till the Robinhood crypto wallets are released. If you really want to get rid of Robinhood for crypto trading, you'll have to sell your crypto assets, transfer the money to the bank, and then transfer the money to Coinbase and repurchase the crypto there.
It's also worth noting that if you sell for a higher price than you paid for it, you might have to pay taxes. Not to mention that transferring your funds to Robinhood takes around a week, and cryptocurrency prices may vary during that period.
