You cannot transfer crypto directly from Robinhood to Coinbase

Robinhood does not allow you to send cryptocurrency to an external wallet or exchange. You can buy and sell crypto on Robinhood, but the platform does not give you access to a private wallet address where you could receive coins from elsewhere, and it does not let you withdraw coins to send them somewhere else.

If you want to move your crypto holdings to Coinbase, you have two options: sell your crypto on Robinhood, transfer the cash to your bank account, and then buy the same crypto on Coinbase. Or keep your holdings on Robinhood and open a separate Coinbase account to buy crypto there going forward.

Key Takeaways

  • Robinhood does not support withdrawals of cryptocurrency to external wallets or other exchanges.
  • To move your holdings to Coinbase, you must sell on Robinhood, wait for the cash to settle in your bank account, and buy on Coinbase.
  • Selling and rebuying means you will owe capital gains tax on any profit you made while holding the crypto on Robinhood.
  • You can avoid this tax hit by keeping your Robinhood holdings and opening a Coinbase account for new purchases instead.
  • Robinhood crypto transactions settle to your linked bank account within one to three business days.

Selling your crypto on Robinhood and withdrawing cash

Open the Robinhood app and go to your Crypto tab. Find the cryptocurrency you want to move and tap it to open the detail page. Tap the sell button (usually shown as a downward arrow or labeled "Sell"). Enter the amount you want to sell — you can sell a partial amount or your entire holding.

Review the order summary, which will show you the current price and any fees. Robinhood charges no commission on crypto trades, but the price you see already includes a small spread (the difference between what Robinhood paid for the coin and what it is selling it to you for). Confirm the sale by tapping the final confirmation button.

The cash from your sale will land in your Robinhood cash account within one to three business days. Once it settles, you can withdraw it to your linked bank account. Go to your Account tab, select Transfers, choose Withdraw, and select your bank account. Enter the amount and confirm.

Buying the same crypto on Coinbase

Once the cash reaches your bank account (usually one to three more business days), log into Coinbase on a web browser or the Coinbase app. Go to the Buy & Sell section and search for the cryptocurrency you sold on Robinhood. Select it and choose how much you want to buy — you can enter a dollar amount or a specific quantity.

Coinbase will show you the current price and any fees. Coinbase charges a spread on crypto purchases, similar to Robinhood, plus a flat fee or percentage fee depending on your payment method. If you link your bank account, the fee is typically lower than if you use a debit card. Review the total cost and confirm the purchase.

Your new crypto will appear in your Coinbase account when ready, though the bank transfer itself may take a few days to fully settle. Once it does, you own the crypto outright and can send it to a Coinbase wallet, transfer it to another exchange, or hold it in your Coinbase account.

Understanding the tax consequences of selling and rebuying

When you sell crypto on Robinhood, the IRS treats it as a taxable event. If you bought Bitcoin at $30,000 and sold it at $45,000, you owe capital gains tax on the $15,000 profit. The tax rate depends on how long you held it: if you held it for less than a year, it is taxed as short-term capital gains (at your ordinary income tax rate). If you held it for more than a year, it is taxed as long-term capital gains (usually a lower rate).

When you buy the same crypto again on Coinbase, that is a separate transaction with a new cost basis. If the price goes up from there, you will owe tax on the new gain. You cannot avoid the tax on your Robinhood profit by rebuying — the sale itself triggers the tax bill.

If you have a significant unrealized gain on your Robinhood holdings, selling to move to Coinbase may not be worth the tax hit. In that case, consider keeping your Robinhood holdings and opening a Coinbase account for new purchases instead.

Why Robinhood does not allow crypto withdrawals

Robinhood treats cryptocurrency as an investment product you can buy and sell within the platform, not as a currency you own outright. This is different from a true crypto exchange like Coinbase, which gives you a wallet address and lets you withdraw coins to your own wallet or send them elsewhere.

Robinhood's model is simpler for beginners — you do not have to manage private keys or worry about wallet security — but it means you are always trading through Robinhood's system. You cannot move your holdings to another platform without selling first.

Alternatives to moving your crypto

If you want to use Coinbase but do not want to sell your Robinhood holdings and trigger taxes, you can straightforward open a Coinbase account and buy new crypto there. Your Robinhood holdings stay on Robinhood, and your new purchases live on Coinbase. Over time, you can shift your buying activity to whichever platform you prefer.

Another option is to wait. If your Robinhood holdings are currently at a loss, you can sell them without owing capital gains tax — in fact, you can use the loss to offset other gains. If you expect the price to rise further before you move, you might wait until you are ready to sell anyway.

If you want a platform that lets you withdraw crypto to your own wallet, Coinbase does offer this feature. Once you buy crypto on Coinbase, you can send it to a Coinbase Wallet (a separate app that stores your private keys) or to any other wallet address you control. This gives you more flexibility than Robinhood, but it also means you are responsible for keeping your wallet find.

Timing and settlement for your transfers

The entire process — selling on Robinhood, withdrawing to your bank, and buying on Coinbase — typically takes five to eight business days. Robinhood crypto sales settle in one to three business days. Bank transfers out of Robinhood take another one to three business days. Coinbase purchases using a linked bank account may take a few more days to fully settle, though the crypto appears in your account right away.

During this time, the price of the crypto you are moving will likely change. If the price rises, you will buy back at a higher price. If it falls, you will buy back at a lower price. This price risk is one reason some people choose to keep their holdings on Robinhood rather than move them.

Frequently Asked Questions

Can I send my Robinhood crypto to a friend or another person?

No. Robinhood does not allow you to send crypto to anyone else's wallet or address. You can only buy and sell within the Robinhood platform. If you want to send crypto to someone, you would need to use an exchange like Coinbase that supports withdrawals.

What if I have a very small amount of crypto on Robinhood — is it worth moving?

Probably not. If you have $50 or $100 worth of crypto, the fees and taxes from selling and rebuying will eat into your profit. It is usually cheaper to leave small amounts where they are and focus your buying activity on the platform you prefer going forward.

Do I have to pay taxes when I transfer crypto between my own accounts?

Yes, if you sell on one platform and buy on another. The sale itself is a taxable event, even if you when ready rebuy the same crypto. However, if you could withdraw directly (which Robinhood does not allow), moving crypto between your own wallets without selling would not trigger a tax event.

Can I use a Robinhood crypto withdrawal to pay for something?

No. You can only withdraw cash from Robinhood, not crypto. You must sell your crypto first, which converts it to cash in your Robinhood account, then withdraw that cash to your bank account.