Robinhood is the most demanding platform for many users because of active trade and good trade volume. Prominent investors want to use such platforms for different reasons. Many individuals consider ways to Transfer Crypto From Coinbase To Robinhood. You can never move assets in and out of the platform quickly. When using Robinhood, you can buy a digital asset with the help of fiat currency through a connected bank account. Users never move digital currency if not sold for cash. Before transfer, you must consider capital gain tax implications.

Also Check:- How To Transfer From Coinbase To Kraken [In Just 5 Steps]

Why Transfer Crypto From Coinbase To Robinhood:

Coinbase is the most popular exchange platform and manages a good reputation in the crypto market. When using Coinbase, you can spend fees for the digital currency transaction. Platform charges separate fees for buying and selling the digital asset. On the other hand, Robinhood is an ideal portal and never charges anything from users. 

How To Transfer Crypto From Coinbase To Robinhood?

Once you decide to use Robinhood for investment, you can understand more about it. The internet is the best source to get accurate information about everything. You must Transfer Crypto From Coinbase To Robinhood and prepare for an excellent investment. Users follow the simple guide to proceed with every process carefully.

Step 1: Open Robinhood Account

If you wish to use Robinhood, you need to create an account. You have to fulfill specific requirements for a Robinhood account like

  • Finish eighteen years or older
  • Manage proper social security number
  • Legal residential address
  • Permanent resident and valid visa

Step 2: Sell Digital Currency on Coinbase

Once the above step is over, you can get ready to sell digital currency and move over to Robinhood. You should remember that you pay tax on gains when selling for profit. Users follow the simple procedure to sell a digital asset like

  • Log in to your Coinbase account.
  • Then, click on the buy or sell option on the browser or tap the required button on the app.
  • You can select the sell option.
  • Choose the digital currency you wish to sell.
  • Now, enter an amount.
  • Check preview sell and click on sell now to finish the process.

Once the selling process is over, cash is available in local currency. Users wait a few days to settle transactions before moving the asset to a bank account.

Step 3: Move Fund To The Bank

Whether you manage a cash balance eligible for transfer, you can transfer funds to a bank account.

  • Choose cash balance under asset.
  • On the cash out tab, input the amount wish to cash and click the continue option.
  • Then, select the cash-out destination option and click continue.
  • Go to the cash out now option to finish the transfer.

Users will allow moving the available balance out of the exchange. The available balance is the total value of the account keeping our fund on hold. 

Step 4: Put the Amount into Robinhood

Once the fund reaches the bank account, it will take a few days. After that, you can start depositing funds to your Robinhood account.

  • Log in to your Robinhood account and tap the account tab.
  • Then, tap transfer.
  • Choose transfer to Robinhood.
  • Then, select the account you wish to move an asset from.
  • Enter the deposit amount and review them properly. 
  • Cross-check details and submit a deposit.

You must understand the above steps carefully to fund an account and manage the proper balance to begin an investment. Crypto users never experience any difficulty in Transfer Crypto From Coinbase To RobinhoodWith an appropriate guide, you can finish the process and keep a proper balance in the Robinhood account.

Step 5: Buy Digital Currency in Robinhood

It is the final step for crypto users to start investing. Funds in a Robinhood account allow people to buy digital currency. Crypto users must maintain funds in a new Robinhood account. 

  • You can go to the main page of the Robinhood account.
  • Then, browse the digital currency you want to buy like bitcoin, Litecoin, Dogecoin, Ethereum, and a lot more.
  • After choosing a currency, you can tap trade.
  • Under trade, tap buy.
  • Enter the amount in the relevant field and purchase the digital asset.
  • Users must check all the details on the page and confirm them to make an order. It will show submit order.

Robinhood is the perfect source for many investors to fulfill goals and objectives. It is a good choice for a worldwide audience and gains good profit. You must enter accurate details and finish the process on time.

FAQ(Frequently Asked Questions)

Is Robinhood crypto better than Coinbase?

There is a broad range of coins supported by Coinbase, whereas Robinhood supports a more limited number of coins. Unless you`re best seeking out a handful of famous coins, Coinbase gives a higher selection. Advanced crypto features: Robinhood best gives you the cap potential to shop for and promote cryptocurrencies. 

How long does it take to transfer cryptocurrency from Robinhood to Coinbase?

It usually takes 24 hrs but many times the transactions process in a few minutes. It only takes time when the servers are down. Otherwise, you can do transactions anytime without any problem.

What are the benefits of Robinhood?

Robinhood attracts a massive number of investors and lets them utilize digital currency trade, 100% commission-free stock, and ETF.

What is the use of the Robinhood wallet?

Robinhood users must use the proper wallet to own and move digital assets and pay for goods and services.