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Written by Sam Pennington on August 28, 2022
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How To Transfer From Robinhood To Crypto.com 2022

Robinhood is a top investment platform for beginners for a host of reasons. The app is sleek, easy to navigate, and packs in a number of features.

With commission free trades, instant deposits, various order types, margin trading, and more, it's easy to see why Robinhood is so popular.

However, for cryptocurrency, Robinhood's offering is limited. With just 15 cryptocurrencies available for trading, it's easy to see why some investors want to switch to another platform.

Crypto.com is one of the top cryptocurrency platforms in the market. With over 250 tradable tokens and benefits like a Visa rewards card, Crypto.com has quickly gained popularity. The company was founded in 2016 and already has over 74,000 reviews in the app stores with a 4.3 average star rating.

Be sure to read our complete Crypto.com review to learn more.

If you decide you want to move your crypto assets from Robinhood to Crypto.com, then you're in luck. In this article, we highlight the process to transfer from Robinhood to Crypt.com.

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How To Transfer From Robinhood to Crypto.com

Robinhood recently introduced their crypto wallet, which makes sending and receiving cryptocurrency much easier.

Because this wallet is new, we will cover the steps to transfer your crypto with or without the wallet. However, we definitely recommend signing up for the new wallet as it will make the process far easier.

We will start with the transfer process without the wallet. If you have the wallet or want to set it up, then you can skip ahead.

Transfer Without Robinhood Crypto Wallet

These are the five key steps it'll take to rebuild your portfolio in Crypto.com:

  1. Open and verify your Crypto.com account
  2. Sell your Robinhood crypto assets
  3. Transfer your Robinhood funds to a bank account
  4. Link your funds from your bank account into your Crypto.com account
  5. Purchase crypto assets on your Crypto.com account

Below, we're going to guide you through each part.

1. Open A Crypto.com Account

crypto.com logo

Crypto.com was designed to be more than a simple trading platform. They also offer members a metal visa card with up to 8% rewards and over 250 cryptocurrencies.

In order to send crypto from Robinhood to Crypto.com, you will need a Crypto.com account.

If you already have a Crypto.com account, skip to the next step!

If not, here are the steps to open an account:

  1. Download the Crypto.com app and tap "Sign Up"
  2. Enter in your email address and accept the terms and conditions if you wish (after reading them)
  3. Tap "Continue"
  4. Verify your email address with the verification sent to the email you entered
  5. In the email, you will need to click on "Login"
  6. After verifying your email address, you will continue with the account setup
  7. You will be asked to enter in your phone number and verify it as well
  8. Finish account setup by submitting your full legal name, copy of your ID, and a selfie
  9. After submitting your account, you will be notified within 2-3 business days once you have been verified
  10. After verification, you will need to create a 6 digit passcode

Assuming your information is correct and your images are clear, this verification can be completed in as little as 5 minutes!

2. Sell Crypto Assets On Robinhood

Robinhood Logo

Now, you'll have to liquidate the cryptos on Robinhood that you want to transfer.

Don't forget, selling your crypto can result in a capital gains tax liability if you sell for a profit.

How To Sell Crypto (Mobile):

  1. Find the crypto you are selling and select “Trade
  2. Next click “Sell
  3. Enter the crypto dollar amount that you are selling
  4. Select the “Review” button to confirm all the information is correct
  5. Swipe up in the application to finalize your request

How To Sell Crypto (Desktop):

  1. Locate the crypto you are selling and navigate to the details page for that crypto
  2. Next click “Sell” in the options window
  3. Enter the crypto dollar amount that you are selling
  4. Review the information to confirm it is correct
  5. Submit your order to finalize the sale

After selling the desired crypto, your funds are subject to a settling period before they become available inside your Robinhood account. You'll see the funds in your account immediately, but you won't be able to touch them until the settling period passes, which is usually 3 days.

3. Transfer Funds To Your Bank Account

After your funds settle, you'll be able to transfer them to your bank account.

How To Transfer (Mobile):

  1. Find and select “Account” in the bottom right corner of your screen
  2. Tap “Transfers” and then “Transfer to Your Bank
  3. Click the bank account to transfer the funds to
  4. Enter in the total dollar amount of funds you want to transfer
  5. Select “Submit” after you confirmed the information provided is correct

How To Transfer (Desktop):

  1. Find and select “Account” in the top right corner of your screen
  2. Click “Banking
  3. Using the panel on the right side of the screen, initiate your bank transfer from Robinhood

4. Link Funds to Crypto.com

In order to buy crypto in your Crypto.com account, you'll have to link a bank account or a credit/debit card.
(If you happened to do this in step 1, skip on ahead to the last step!)

  1. From the home page in the app, tap "Transfer"
  2. Select "Deposit"
  3. Choose "Fiat"
  4. You will need to create a fiat currency wallet. To do so, tap on the + sign where it says "Set Up New Currency"
  5. Select the currency option that applies to you
  6. The popup highlights the agreement and terms & conditions. To move forward, check the box that states you understand and tap "Next"
  7. If you haven't already verified the account, you will need to do so here. This is done by entering in your address, SSN, and photo ID.
  8. After verifying your account, you will need to go through steps 1 through 3 again and choose your new fiat wallet
  9. Add your routing and account number after choosing ACH deposit
  10. Transferring funds from your bank account to your Crypto.com account will vary depending on the bank you have.

Now that you have a Fiat wallet, you will be able to transfer funds into your Crypto.com account and purchase the desired cryptocurrency.

5. Purchase Crypto Assets In Crypto.com

Now that you have your account verified and your fiat wallet set up, you are ready to purchase your desired cryptocurrencies.

To do so, you can follow the below steps:

  1. On the home page in the app, tap "Trade"
  2. Next tap "Buy"
  3. Select the cryptocurrency you would like to purchase
  4. Next you will need to select how you would like to purchase. Select Fiat wallet, or choose credit card (you will need to add a card in that case)
  5. Type in the amount of the desired crypto you want. EX. 0.001 Bitcoin.
  6. Tap "Buy"
  7. After reviewing the purchase, tap "Confirm"

When transferring assets using this process, be aware that it will create a taxable event. When you sell a crypto for a gain, you will be required to pay capital gains tax.

Transfer With Robinhood Crypto Wallet

If you have the new Robinhood crypto wallet, then the process is much easier. It also does not trigger a tax event as you are transferring the assets rather than selling and repurchasing.

With the crypto wallet, the process takes just 3 steps:

  1. Open a Crypto.com Account
  2. Locate the desired wallet address from Crypto.com
  3. Transfer from Robinhood to Crypto.com

In order to initiate this trade, you will need to set up your new wallet. This process requires that you verify email as well as your identity with a picture of your license. You will also need to download an authenticator app. Check out our guide to set up the wallet here.

1. Open a Crypto.com Account

As highlighted in the previous section, you will need to open a Crypto.com account. If you haven't already created one, the steps to do so are outlined above in the "Transfer Without Robinhood Crypto Wallet" section in step 1.

2. Find the Wallet Address From Crypto.com

Cryptocurrencies are held in an account like other assets. This account is called a wallet, and each wallet has a unique address. You can think of this address like a routing and account number. When sending crypto from one location to another, you need an account or wallet address to send it to. Additionally, each crypto has a unique wallet address - Bitcoin is held in a Bitcoin wallet, and Ethereum is held in an Ethereum wallet.

Sending a particular cryptocurrency to a non matching wallet could result in the loss of your assets forever.

Finding this crypto address in Crypto.com is easy:

  1. Once logged into the Crypto.com app, tap "Transfer"
  2. Select "Deposit" 
  3. Choose "Crypto"
  4. Select the crypto you would like to receive from Robinhood
  5. A new screen will appear with the wallet associated to the crypto you just selected
  6. Copy the address with the copy address button provided

You will use this address in the Robinhood app to initiate a transfer from Robinhood to Crypto.com.

3. Transfer From Robinhood To Crypto.com

Now that you have copied the wallet address to the corresponding cryptocurrency from Crypto.com, you are ready to initiate the trade.

Follow the steps below to transfer your assets:

  1. Open the Robinhood app and locate the cryptocurrency that you want to transfer.
  2. Scroll down and tap on "Send"
  3. Next you will need to enter how much you would like to transfer. You can select "Send All" if you want to move all of that particular cryptocurrency
  4. You will need to paste the wallet address from Crypto.com in order to send the cryptocurrency. Tap "Enter Manually"
  5. Paste in the wallet address
  6. You will also need to paste in the code from your authenticator app
  7. Tap "Review"
  8. Tap "Confirm" after reviewing the transfer

Transferring From Robinhood To Crypto.com

Executing a transfer from Robinhood to Crypto.com will depend on whether or not you have the Robinhood wallet.

If you do not, then you will actually need to liquidate your position, transfer the funds to your bank, and then move those funds into Crypto.com. You ought to be aware that this does create a tax event. If you sell your crypto assets for a gain, then you will be subject to capital gains tax.

If you have the wallet, then this process is much easier and does not trigger a taxable event. With the wallet, you simply need to locate your crypto wallet address from Crypto.com and paste it into Robinhood.

Article written by Sam Pennington
Sam is a personal finance writer. While in college, he dedicated his spare time to learning about personal finance, investing, and real estate. Sam currently works as a business analyst for one of the top food manufacturers in the world.

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