One popular option for trading cryptocurrencies is Robinhood. A brokerage that is extensive used. For a variety of reasons, such as diversifying their assets.
Consumers can wish to move their cryptocurrency to other platforms. This post offers a clear tutorial on how to move digital currency from Robinhood if you want to.
Can You Move Cryptocurrency Using Robinhood?
The answer is that you can move cryptocurrencies from Robinhood to various other exchanges. Before recent service updates, users of Robinhood: Stocks & Crypto were not able to access this feature.
Users’ accounts can now use to transfer and receive cryptocurrency. You must set up two-factor verification and verify your identity with a photo ID issued by the government or a live photo to use this service.
How to Allow Cryptocurrency Transactions on Robinhood?
- You have to turn on two-step verification on the account.
- And confirm your identity. Before you can start transferring digital currency with Robinhood.
- Up to five business days may pass. Before this process reviewed and activated.
Identity Confirmation ID from the government.
Send in a picture of your identification. Such as a driver’s license, state identification card, identification card, or card for permanent house.
Live Photo.
In a well-lit environment. Take a picture of yourself using your webcam.
Two-Factor Authentication Enabled.
Get an authenticator app to download.
For smartphones, there are alternatives like Google Authenticator that can used.
Validation of Mobile Number:
Text an access code to the mobile device you have linked. Then input it in the mobile application to verified.
Confirmation of Email Address:
To confirm. Click the link that delivered to the email address you used to register for Robinhood.
Setting up 2FA in Robinhood.
- To enable two-factor authentication.
- click to Profile → Preferences → Privacy and security → On.
- Select the authenticator app and launch it.
- Confirm that Robinhood included to the app.
- Open Robinhood. Enter the validation code from the app.
Code of Backup
In the event that you misplace your device. Robinhood will give you a backup code to access your account. Keep this data safe and secure. Preferable in a safe, login-protected box.
How to Move Cryptocurrency Using Robinhood?
To move digital currency out of Robinhood. Do the following.
- Open the Crypto Details Page.
- Select the “Send” option.
- Enter the desired quantity of cryptocurrency to send.
- Put the recipient’s wallet address in here.
- Choose “Review” to make sure of the details.
- To complete the transaction. Click “Submit.”
In Robinhood, How to Accept a Crypto Transfer?
To get a digital currency transfer in Robinhood. Do the following:
- Go to the Detail Page for Robinhood: Stocks & Crypto.
- Select “Receive” from the menu.
- Make a copy.
- Your Address for Crypto In the box for transferring wallet.
- Paste your cryptocurrency address.
Verify the transfer.
- When you will receive cryptocurrency credit in your Robinhood account. It is dependent upon the quantity of network approvals you receive.
- Depending on network conditions. A different number of confirmations may need. Under normal circumstances, this process usually takes a few hours to finish.
Read Also: How to Open a Robinhood Account
- Every transfer subjected to a security check. Which usually takes a few minutes, but sometimes takes longer.
- The Robinhood app will notify you right away. As your cryptocurrency appears in your account.
Transfer Charges and Limits.
You may find detailed explanations of Robinhood’s restrictions. And costs for cryptocurrency transfers below. Transfer up to $5,000 value of cryptocurrencies in a single day. According to the exchange limits price limit.
Speed Limit.
In a 24-hour period, make no more than 10 cryptocurrency transfers.
Instant Buy Settlement Period.
An average transaction can take up to five business days. To settle before digital currencies bought with Robinhood Quick may move out.
Transfer Fees.
Often referred to as a miner. A network fee associated with each cryptocurrency transfer. The particular coin and the volume of network traffic at any one time determine this charge.
Fee openness.
Before completing any transfer. Robinhood will alert you of the network fee.
What you require to begin Robinhood?
You must have a device that satisfies our technological standards. Then satisfy each of the subsequent requirements individually. To qualify for a Robinhood account:
- Be at least eighteen years old.
- Own a current National Insurance card.
- Have a place of house in the UK.
- Have house in the UK for taxation of income purposes.
- Not a citizen of the US.
