Cryptocurrency investors in the United States often turn to user-friendly platforms like Robinhood and Coinbase to enter the digital asset space. Both platforms offer seamless onboarding, intuitive interfaces, and easy access to popular cryptocurrencies such as Bitcoin and Ethereum. However, a critical difference between the two lies in their wallet functionality—particularly when it comes to transferring crypto assets.
If you're asking, "Can I transfer crypto from Robinhood to Coinbase?", the short answer is: not directly. Unlike Coinbase, which supports full wallet functionality, Robinhood currently does not allow users to send or receive cryptocurrency externally. This limitation means you cannot simply transfer your Bitcoin, Ethereum, or other holdings from Robinhood to a Coinbase wallet with a few clicks.
But don’t worry—there’s still a way to move your assets. While it involves more steps and potential costs, this workaround allows you to effectively migrate your crypto investments from Robinhood to Coinbase.
Why Can’t You Directly Transfer Crypto from Robinhood?
The core issue lies in Robinhood’s platform design. Although it allows users to buy and sell cryptocurrencies, it operates more like a brokerage than a self-custody wallet service. This means:
- Robinhood holds your crypto on your behalf.
- You do not control the private keys.
- There is no option to withdraw or send crypto to external wallets.
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This lack of transferability is a significant drawback for users who value financial autonomy, decentralized access, or want to use their crypto in DeFi applications, NFT marketplaces, or other blockchain-based services—most of which require external wallet integration.
How to Move Crypto from Robinhood to Coinbase (Step-by-Step)
Since direct transfers aren’t supported, the only viable method involves selling your crypto on Robinhood, withdrawing the proceeds to your bank account, and then rebuying the same assets on Coinbase.
Here’s how to do it:
1. Sell Your Cryptocurrency on Robinhood
Begin by selling the digital assets you wish to transfer.
On Mobile:
- Open the Robinhood app.
- Navigate to the cryptocurrency you want to sell.
- Tap “Trade”, then select “Sell”.
- Enter the dollar amount you’d like to sell.
- Review the details and confirm by swiping up.
On Web:
- Log in to your Robinhood account via browser.
- Go to the crypto’s detail page.
- Click “Sell”, enter the amount in USD.
- Review and submit your order.
Important: Selling appreciated assets may trigger a capital gains tax liability. Keep records of your purchase price (cost basis) and sale proceeds for tax reporting.
After the sale, funds enter a settlement period. Robinhood follows a T+2 settlement cycle, meaning it takes three business days before the money becomes available for withdrawal.
2. Transfer Funds to Your Bank Account
Once settled, withdraw the cash to your linked bank account.
On Mobile:
- Go to Account > Transfers > Transfer to Your Bank.
- Enter the amount and confirm the transfer.
On Web:
- Click Account > Banking.
- Initiate a bank transfer using the dashboard panel.
Standard transfers typically take 1–3 business days to appear in your bank account.
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3. Create a Coinbase Account (If You Haven’t Already)
To proceed, you’ll need a Coinbase account. Here’s how to set one up:
- Visit Coinbase.com and click “Sign Up”.
- Provide your full name, email address, and password.
- Confirm your email via the link sent to your inbox.
- Verify your phone number using SMS.
- Upload a government-issued ID (e.g., driver’s license or passport).
Provide personal information including:
- Occupation
- Source of income
- Purpose for using Coinbase
- Last four digits of your SSN (for U.S. residents)
- Link a payment method (bank account or debit card).
- Enable two-factor authentication (2FA) for added security.
Coinbase uses these steps to comply with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations.
4. Deposit Funds into Coinbase
Once your bank transfer arrives:
- Log in to Coinbase.
- Go to Trade > Deposit > Bank Account.
- Select your linked bank and enter the deposit amount.
- Confirm the transaction.
Deposits usually take 1–3 business days via ACH transfer. Instant deposits may incur a small fee if using a linked debit card.
5. Buy Cryptocurrency on Coinbase
Now that your funds are available:
- Click “Buy/Sell” or “Trade”.
- Choose the cryptocurrency you previously held on Robinhood (e.g., BTC, ETH).
- Enter the dollar amount you wish to purchase.
- Preview the transaction, check fees, and confirm.
Your newly purchased crypto will be stored in your Coinbase wallet—with full support for sending, receiving, and even staking or earning interest through Coinbase Earn.
Frequently Asked Questions (FAQ)
Q: Why can’t I transfer crypto directly from Robinhood to Coinbase?
A: Robinhood does not provide external wallet functionality. It acts as a custodian, meaning you cannot export or import crypto assets directly.
Q: Are there tax implications when selling crypto on Robinhood?
A: Yes. If you sell for a profit, you may owe capital gains taxes. Always report these transactions on your annual tax return.
Q: How long does the entire transfer process take?
A: Typically 5–7 business days, accounting for settlement (3 days), bank transfer (1–3 days), and deposit processing on Coinbase.
Q: Can I avoid selling my crypto during the transfer?
A: Not currently. Until Robinhood introduces full wallet support, selling is the only option.
Q: Is Coinbase safer than Robinhood for holding crypto?
A: Coinbase offers more control with external transfers and supports self-custody via Coinbase Wallet. It also has strong regulatory compliance and insurance coverage for custodial assets.
Q: Are there fees involved in this process?
A: Yes. You may face:
- Trading fees on Robinhood (though often $0 commission)
- Network or spread fees on Coinbase
- Potential instant deposit fees
Always review fee disclosures before executing trades.
Final Thoughts
While you cannot directly transfer crypto from Robinhood to Coinbase, the workaround—sell, withdraw, deposit, rebuy—is reliable and widely used by investors seeking greater flexibility. The process isn’t instant, and price volatility during the transition period can impact your final holdings, so consider timing your moves carefully.
Ultimately, moving to Coinbase unlocks access to a broader crypto ecosystem: decentralized apps (dApps), NFTs, staking rewards, and interoperability with other wallets and blockchains.
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By understanding the limitations of brokerage-style platforms like Robinhood and embracing wallet-enabled services like Coinbase, you take a crucial step toward true digital asset ownership.
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