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  Move Money: How to transfer money from Robinhood to bank account?

  Posted by goldie on March 20, 2024 at 6:39 pm

  Robinhood doesn’t support direct transfers of cryptocurrencies to external wallets or platforms like Coinbase. However, you can still transfer your cryptocurrency holdings from Robinhood to Coinbase, but it involves an additional step. Here’s how you can do it:

  1. Sell Cryptocurrency on Robinhood: First, you’ll need to sell the cryptocurrency you want to transfer on Robinhood. Go to the cryptocurrency section in the Robinhood app or website, select the cryptocurrency you want to sell, and then choose the option to sell it. This will convert your cryptocurrency into cash within your Robinhood account.
  2. Withdraw Cash to Your Bank Account: After selling the cryptocurrency, withdraw the cash proceeds to your linked bank account. Navigate to the “Account” section in Robinhood, select “Transfer,” then choose “Transfer to Your Bank” and follow the prompts to withdraw the cash.
  3. Transfer Cash to Coinbase: Once the cash is available in your bank account, you can initiate a bank transfer from your bank account to Coinbase. Log in to your Coinbase account, navigate to the “Portfolio” or “Accounts” section, and select the option to deposit funds. Follow the instructions to link your bank account and initiate the transfer from your bank to Coinbase.
  4. Purchase Cryptocurrency on Coinbase: After the cash deposit is completed, you can use it to purchase cryptocurrency on Coinbase. Navigate to the “Trade” section, select the cryptocurrency you want to buy, and choose the option to buy it using the funds available in your Coinbase account.
  5. Withdraw Cryptocurrency to Coinbase Wallet: If you want to hold the cryptocurrency in your own wallet, you can transfer it from your Coinbase account to your Coinbase Wallet. Navigate to the “Accounts” section in Coinbase, select the cryptocurrency you want to transfer, and then choose the option to send it to your Coinbase Wallet.

  Please note that each step may involve fees and processing times, so make sure to review the details carefully before proceeding with the transfer. Additionally, cryptocurrency prices can be volatile, so consider the current market conditions before making any transactions.

  goldie replied 1 month, 1 week ago 1 Member · 0 Replies
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