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Written by Sam Pennington on March 22, 2023
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How To Transfer From Trust Wallet To Robinhood 2023

Cryptocurrency has become increasingly more popular over the last few years, though it has existed since Bitcoin was created in 2008.

As crypto continues to rise in popularity, more and more cryptocurrency exchanges and wallets are popping up. Trust Wallet is one of the many options available to investors. Though for some, Trust Wallet is too limited in its features. The platform does support thousands of cryptos, but some investors may be looking for a more robust platform.

Robinhood, on the other hand, lets members trade cryptocurrency in addition to stocks, ETFs, options, and more. They even offer banking. Of course, Robinhood supports 18 cryptos only. However, if you are looking to do all of your investing from one app, then Robinhood may be the option for you.

If you want to make the switch to Robinhood and take advantage of these additional features, then you've come to the right place. In this article, we cover the steps required to transfer from Trust Wallet to Robinhood.

Let's dive in!

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How To Transfer From Trust Wallet To Robinhood

Robinhood introduced their crypto wallet in early 2022, though it was rolled out with a wait list. In April of 2022, they gave access to everyone on the waitlist. Today, signing up for a Robinhood Crypto wallet is easy.

Without the Robinhood crypto wallet, you would need to follow the below steps:

  1. Open a Robinhood Account
  2. Transfer your assets in Trust Wallet to another popular crypto exchange like Binance or Coinbase
  3. Sell your assets and transfer your funds to a bank account
  4. Link your bank account to Robinhood
  5. Purchase crypto assets on your Robinhood account

This is quite a cumbersome process. With the Robinhood crypto wallet, the process is much easier. Follow these steps to enable the crypto wallet and transfer from Trust Wallet to Robinhood.

  1. Open a Robinhood Account
  2. Enable Crypto Wallet
  3. Find your Robinhood wallet address
  4. Transfer from Trust Wallet to Robinhood

1. Open A Robinhood Account

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First, you will need to open a Robinhood account if you do not already have one.

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

Opening an account with Robinhood is quick and simple. One of the main reasons Robinhood is so popular is for their incredibly simple design. Creating an account can be completed in just a few minutes.

2. Enable Robinhood Wallet

In order to set up your new wallet, you will need to 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 setting up a new Robinhood crypto wallet for more details.

3. Locate the Desired Wallet Address From Robinhood

When transferring crypto assets out of Trust Wallet, you will need a location to send them to.

In this case, that location is going to be a crypto wallet from Robinhood. Each crypto has a specific wallet, and each wallet has a specific address. If you want to send Bitcoin for example, then you need to ensure you are using the Bitcoin wallet. Using a wallet address from a different cryptocurrency could result in the loss of your funds.

This address can be found in Robinhood quickly and easily:

  1. Locate the desired crypto by tapping on the search icon in the bottom menu and typing in the crypto you want
  2. Scroll down and tap on the "Receive" button
  3. Tap on the "Copy Address" button

4. Transfer From Trust Wallet To Robinhood

When your account is opened and verified, and you have copied your destination address, it's time to send your crypto. This process is pretty straightforward:

  1. Choose the crypto you want to withdraw within Trust Wallet
  2. Select the "Send" button
  3. Paste your Robinhood wallet address that you just copied in the previous step
  4. Set the amount of crypto you want to send, and press "Next"
  5. Review transaction details, double-checking that your wallet address is correct and matches the cryptocurrency
  6. Press "Confirm" to complete your transfer

This transfer may take a few days to complete. The main benefit of transferring assets in this way is you do not trigger a tax event. Additionally, you do not have to pay any transaction fees.

However, if you are trying to transfer a cryptocurrency that Robinhood does not support, you will not be able to complete the transfer.

Transfer From Trust Wallet to Robinhood: Final Thoughts

Transferring from Trust Wallet to Robinhood can actually be fairly complicated without the Robinhood crypto wallet. Additionally, because Robinhood supports a small collection of coins, it is possible that the coin you have is not supported on the Robinhood platform.

With the crypto wallet, the process is quick and easy. Without it, you will need to transfer the coins to another platform and then liquidate the position. This is because Trust Wallet does not support direct transfers to the bank.

If you want to learn more about Robinhood, be sure to check out our full Robinhood review!

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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