You cannot send crypto directly from Robinhood to another wallet or exchange

Robinhood does not allow you to transfer cryptocurrency out of your account to an external wallet, another exchange, or another person's address. You can buy and sell crypto within Robinhood, and you can withdraw the cash proceeds after you sell, but you cannot move the actual coins or tokens themselves off the platform.

This is a significant limitation if you want to use crypto outside Robinhood — for example, to store it in a hardware wallet, send it to a friend, or use it on a decentralized finance platform. If moving crypto off Robinhood is important to your plan, you will need to use a different exchange or platform that supports withdrawals.

Key Takeaways

  • Robinhood lets you buy, sell, and hold crypto, but does not allow you to withdraw coins or tokens to an external address.
  • You can withdraw cash to your bank account after selling crypto, but the crypto itself stays locked inside Robinhood.
  • If you need to move crypto off the platform, you must sell it first, withdraw the cash, and then buy crypto elsewhere.
  • Other exchanges like Kraken, Coinbase, and Gemini do allow crypto withdrawals to external wallets.

What you can and cannot do with crypto on Robinhood

Robinhood treats crypto as an asset you can hold and trade, but not transfer. You can buy Bitcoin, Ethereum, Dogecoin, and other supported cryptocurrencies directly through the app. You can sell them at any time and see the proceeds as cash in your account. You can also set up recurring purchases or use limit orders to buy at a specific price.

What you cannot do is initiate a withdrawal of the actual cryptocurrency. There is no "send" or "transfer" button in the Robinhood app for crypto. You cannot paste a wallet address and move coins out. This applies whether you want to send to your own wallet, a friend's address, or another exchange.

How to move money out of Robinhood after selling crypto

If you sell cryptocurrency on Robinhood, the sale price is converted to cash and added to your account balance. From there, you can withdraw the cash to your linked bank account. This process typically takes one to three business days, depending on your bank.

To withdraw cash, open the Robinhood app, go to your Account tab, select "Transfers," and choose "Withdraw." Enter the amount and confirm. The cash will move to whichever bank account you linked when you set up Robinhood. This is the only way to get money out of Robinhood — you cannot withdraw crypto directly.

Why Robinhood does not allow crypto withdrawals

Robinhood's model is built around keeping assets on its platform. The company makes money partly through transaction fees and partly through other revenue streams, so users who hold and trade within the app generate ongoing value. Allowing withdrawals would mean users could move their crypto elsewhere and stop trading on Robinhood.

From a custody perspective, Robinhood holds the private keys to the crypto wallets that back user accounts. This means Robinhood is responsible for security and insurance, but it also means the company controls whether coins can leave the platform. Some users see this as a security advantage — your crypto is insured and professionally managed. Others see it as a disadvantage because you do not have direct control over your coins.

Alternatives if you need to move crypto off a platform

Several major exchanges do allow crypto withdrawals to external wallets. Kraken, Coinbase, Gemini, and Kraken all let you move coins to a wallet address you control or to another exchange. The process is similar: you go to the withdrawal or send section, paste the destination address, enter the amount, and confirm. The transaction typically takes 10 minutes to a few hours, depending on network congestion.

If you want to move crypto from Robinhood to one of these exchanges, you must sell your crypto on Robinhood first, withdraw the cash to your bank, wait for it to arrive, then deposit it into the other exchange and buy crypto again. This process takes several days and may trigger capital gains taxes if you sold at a profit.

Tax implications of selling crypto on Robinhood

When you sell cryptocurrency on Robinhood, the IRS treats it as a taxable event. If you bought Bitcoin at $30,000 and sold it at $40,000, you owe capital gains tax on the $10,000 profit. Robinhood tracks these transactions and sends you a 1099 form at tax time if you had reportable activity.

This matters if you are moving crypto between platforms. Selling on Robinhood to withdraw cash, then buying on another exchange, creates a taxable sale. If you could transfer the crypto directly (as you can on other exchanges), you would avoid triggering a tax event. This is one reason some users prefer exchanges that allow withdrawals — they can move their holdings without selling.

Frequently Asked Questions

Can I send crypto from Robinhood to a friend or family member?

No. Robinhood does not have a send or transfer feature for crypto. You cannot move coins to another person's wallet address. You would need to sell the crypto, withdraw the cash, and have the other person buy crypto on their own account elsewhere.

What if I want to store my crypto in a hardware wallet?

You cannot move crypto from Robinhood to a hardware wallet directly. You would need to sell your holdings on Robinhood, withdraw the cash to your bank, then use that cash to buy crypto on an exchange that allows withdrawals, such as Kraken or Coinbase. Then you can send from that exchange to your hardware wallet.

Does Robinhood plan to add crypto withdrawal features?

Robinhood has not announced plans to allow crypto withdrawals. The company has focused on making buying and selling easier within the app rather than enabling transfers out. If this feature becomes important to you, you may want to use a different exchange.

Can I move my Robinhood crypto to another exchange?

Not directly. You must sell your crypto on Robinhood, withdraw the cash to your bank account, deposit it into the other exchange, and buy crypto there. This process takes several days and creates a taxable event if you sold at a profit.