Investing Simple Logo
Get $5 FREE Bitcoin From Coinbase Today
Coinbase is offering new users a $5 bonus paid in Bitcoin. All you have to do is make your first crypto purchase after signing up.
Written by Cari Scribner on December 28, 2021
FTC Disclosure

How To Transfer From Coinbase To Robinhood 2022

You may be considering moving your crypto out of Coinbase and into Robinhood, one of its key competitors.

Unfortunately, Robinhood does not allow you to send or receive crypto to or from your wallet. That means the only way to transfer is to liquidate into cash and move it via a bank transfer. 

Before you begin the process, keep in mind this action could result in capital gains tax implications as it may result in profit.

Nonetheless, we will walk you through step by step how to move your money from Coinbase over to Robinhood. 

Why Make The Switch?

Overall, Coinbase has an excellent reputation and is highly respected in the crypto community.

However, they are in business to make money, and part of this is done by charging fees on cryptocurrency transactions.

Many crypto exchanges charge up to 4% just to buy and sell coins. Robinhood, on the other hand, charges 0%.

Keep in mind, the downside to Robinhood is that you can't send or receive crypto from the app. With Coinbase, you are able to do this right from your wallet. In addition, there are a much larger variety of cryptocurrencies available for trading over on Coinbase. 

Best Crypto Promotions

BlockFi$15 To $250 Free Bitcoin When You Deposit $100+Download
coinbase table new$5 Free Bitcoin When You Verify Account/Make 1st DepositDownload
SoFi Robo Advisor$10 To $100 Free Bitcoin When You Buy $50+ CryptoDownload
Webull Logo$5 Free Crypto (Choose From 5) For Completing 1st Crypto TradeDownload

1. Open A Robinhood Account

First, you will need to open a Robinhood account.

Use the button above to get a completely free stock when you sign up!

To apply for a Robinhood account, you’ll need to meet the following requirements:

  • Be 18 years or older
  • Have a valid Social Security Number (not a Taxpayer Identification Number)
  • Have a legal U.S. residential address within the 50 states or Puerto Rico (there may be exceptions for active U.S. military personnel stationed abroad)
  • Be a U.S. citizen, U.S. permanent resident, or have a valid U.S. visa

Robinhood Free Training

We put together a free 30 minute video training that walks you through the entire process, step by step. This training will help you get up and running in no time at all.


2. Sell Your Crypto Assets On Coinbase

Next, you will need to sell your crypto assets you are looking to move over to Robinhood. Keep in mind, you will have to pay taxes on your gains if you sell for a profit.

Here's how to sell crypto on Coinbase:

  1. Click Buy/Sell on a web browser or tap the blue button on the mobile app
  2. Select Sell
  3. Next, Select the crypto you want to sell and enter the amount
  4. Select Preview sell then Sell now to complete the transaction

Once the action is complete, your cash will be available in your local currency wallet (USD Wallet, for example).

However, it might take a few days for the transaction to settle before you are able to transfer those funds to your bank account.

3. Transfer Funds To Your Bank

Once the cash balance is eligible for transfer, the next step is to transfer those funds to your bank account.

  1. Select your cash balance under Assets
  2. On the Cash out tab, enter the amount you want to cash out and then click Continue
  3. Choose your cash out destination and then click Continue
  4. Click Cash out now to complete your transfer

Keep in mind, you will only be allowed to transfer your available balance out of Coinbase.

Your available balance is your total account value, excluding the funds on hold.

4. Deposit Funds Into Robinhood

Once the funds hit your bank account, which could take a few business days, the next step is to initiate a deposit to your Robinhood account.

  1. Tap the Account tab (person icon) in the bottom right corner
  2. Next, Tap Transfers
  3. Tap Transfer to Robinhood
  4. Choose the account you’d like to transfer from
  5. Enter the deposit
  6. Review the deposit
  7. Submit the deposit

5. Purchase Crypto Assets In Robinhood

The final step is to use your funds to buy crypto in your new Robinhood account.

  1. Search for the crypto you are looking to buy (ex. Bitcoin)
  2. Tap Trade
  3. Tap Buy
  4. Enter the amount you are looking to purchase
  5. Confirm details of your order
  6. Swipe up to submit your order
how to transfer from coinbase to robinhood
Article written by Cari Scribner

Platform Reviews

Power Your Investing

Choosing the right product and service is essential for your investing. Here are some of the tools and services to help your portfolio grow.
Robinhood provides an easy-to-use free trading platform for beginner investors. Robinhood has $0 account minimums. Get a free stock when you open an account below.
Try Robinhood
M1 Finance
M1 Finance offers a free investing platform where users can build portfolios of stocks and ETFs. Users can also choose from a variety of pre-built portfolios offered for free.
Try M1 Finance
Passively invest in private real estate deals with as little as $10. Fundrise allows you to own residential and commercial real estate across the U.S. starting at a 1% annual fee.
Try Fundrise
Copyright © 2018 – 2022 Investing Simple LLC. All Rights Reserved.
Investing Simple is a financial publisher that does not offer any personal financial advice or advocate the purchase or sale of any security or investment for any specific individual. Members should be aware that investment markets have inherent risks, and past performance does not assure future results. Investing Simple has advertising relationships with some of the offers listed on this website. The information on Investing Simple could be different from what you find when visiting a third-party website. All products are presented without warranty. For more information, please read our full disclaimer.
Developed by Stallion Cognitive
linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram
Copy link
Powered by Social Snap