Robinhood is one of the most popular investment apps in the US but – can you transfer crypto from Robinhood is a common question among investors.
At the time of writing this – Robinhood does not allow its users to transfer crypto to other wallets or exchanges. Users can buy, sell and store crypto on Robinhood but will not be able to send it to other wallets. The wallet infrastructure is not yet implemented on the platform and hence users cannot transfer crypto. I have attached a screenshot from the official website which you can refer to below.
However, this might soon change as per the recent blog post on Robinhood. Read on to know more.
Coming Soon – Robinhood to allow Crypto Transfer soon
Yes – the crypto transfer feature is coming soon to Robinhood, as outlined in their latest blog here, they will start implementing wallets from October. This will allow a small set of users to send crypto from the Robinhood wallet to other exchanges/ wallets like Binance, Coinbase, and the likes.
After the feature is tested in beta, they plan to make it available for a larger set of users through a whitelist. If you want to stay updated, I suggest you follow them on Twitter so that you can get into the whitelist as soon as it goes live.
In addition to this, users can also transfer their crypto holdings from other wallets/ exchanges to Robinhood. If you are someone who doesn’t like having 10,000 accounts like me, you are going to love this update.
This would allow you to keep track of all your coins in one place. If you use other investment products by Robinhood, I think this new Robinhood wallet can make your life easier.
Transferring crypto from Robinhood: What you Need to Know!
The coins supported for transfer depend on the blockchain integrations available on Robinhood wallet. Just because Robinhood implements the wallet feature, that doesn’t mean you can send ALL your coins from here. This is because some wallets do not support all native blockchains.
While Bitcoin(BTC) and Ethereum(ETH) are supported by all exchanges, other layer one blockchains like Solana(SOL), Cardano(ADA), Polkadot (DOT), etc might not be supported on Robinhood, at least not initially.
They might take a phase-by-phase approach and then expand support to other coins and tokens. This is something most crypto exchanges do and I think Robinhood will follow the same approach.
Can you transfer crypto from Robinhood to Coinbase wallet?
You will not be able to transfer crypto from Robinhood to Coinbase or Coinbase wallet because the former doesn’t have wallet support yet. However, this might change in the coming months as the feature is still being tested for a small set of users.
Can you transfer crypto from Robinhood to Binance?
No, Robinhood doesn’t support wallet transfers as of now. Until the wallet feature becomes live, you cannot transfer crypto from Robinhood to Binance or Binance.us. Stay updated with the Robinhood blog so that you can access the feature as soon as it is available to all users.
Can you transfer crypto from Robinhood to Gemini?
Gemini has support to all major crypto transfers but you cannot transfer crypto From Robinhood to Gemini due to lack of native wallet support on Robinhood. Robinhood announced that their wallet is very much in the works and crypto transfers will be possible in the near future.
Even though there is no wallet support as of now, I am sure that this will be implemented very soon on Robinhood. The fact that they gave us an official update on their blog indicates that this is one of their top priorities. Being one of the leading investing platforms, not having transfers can also affect their future growth. I will keep this article updated with the crypto transfer feature available on Robinhood, stay tuned and happy crypto investing!
Anish loves reading, researching, and writing about crypto and blockchain. He started his crypto journey early in 2017, what started as a fad is now a full-time hobby. He curates guides after thorough research on platforms and is responsible for the most in-depth guides on the site. You will find him walking his dog (not Doge) when he is from his Laptop.