Whether you have hit the proverbial jackpot with a 100x altcoin or just don’t feel comfortable storing your cryptocurrencies on a centralized exchange such as Robinhood, there comes a time when you just want to withdraw your digital assets to a more secure wallet. To be able to do this, you’ll need a safe, secure, and reliable crypto wallet to store your cryptocurrencies before eventually selling them for fiat currencies.
In this how-to withdraw crypto from Robinhood guide, we will take you by the hand and aid you through the process of withdrawing Bitcoin and other digital assets from your Robinhood account to your Zengo wallet so that you won’t make any mistakes and can rest assured you are in total control over your private keys and thus cryptocurrency holdings.
Before you can withdraw any crypto from Robinhood, you have to set up your Zengo wallet correctly. Zengo is a next-generation non-custodial cryptocurrency wallet that uses state-of-the-art MPC technology to ensure your digital assets are safe and secure. Zengo is more secure than any hardware wallet and safer than centralized cryptocurrency exchanges because of its built-in Web3 firewall, no private key vulnerability, and guaranteed account recovery system thanks to biometric facial recognition software.
If you want to double-check whether your Bitcoin or other cryptocurrencies have arrived in your Zengo wallet app, simply open the app and check the main balance page. If you want a more detailed overview of your latest transactions, simply tap the ‘History’ button within the app.
Zengo is the world’s safest and most secure Web3-ready non-custodial wallet that utilizes biometric key phrases instead of traditional mnemonic recovery phrases. Because of this, only you have access to your private keys. Additionally, the intuitively designed beginner-friendly app supports multiple digital assets, including Bitcoin, Ethereum, and the most popular altcoins. It allows the user to buy, sell, and swap cryptocurrencies through both its own platform and external Daaps.
Zengo takes the security of your digital assets seriously and protects them with the latest biometric facial recognition 3-factor authentication mechanism. Forget about writing down seed phrases and printing out QR codes. Instead, take advantage of the latest MPC technology to rest assured your digital assets are safe and secure.
Zengo’s fully non-custodial wallet allows you to be in total control over your own digital assets. Additionally, you can diversify and expand your crypto portfolio by using Zengo’s fiat onramp services. Simply buy crypto with Zengo at any time and anywhere.
Instead of endlessly conversing with chatbots, Zengo provides real human customer support around the clock. Simply contact customer support via live chat and ask them anything. The support is available all year round, even during the weekends and holidays.
Zengo allows users to easily send or withdraw crypto to other external wallets. To send crypto, simply tap on the ‘’Actions’’ button, select the desired cryptocurrency, and paste the receiving address. Confirm the transaction, and the crypto will be sent.
To withdraw Bitcoin or other cryptocurrencies to fiat using your Zengo wallet, click on the ‘’Actions’’ tab from within the main menu, followed by the ‘’Sell’’ button. Once you’ve done this, select the digital asset you want to sell and specify the desired amount. Your Bitcoin or other digital assets will now be automatically sold using Zengo, and you will receive USD, EUR, or GBP in return. Now you can simply withdraw the fiat currency to the bank account connected to your Zengo wallet account.
You can find more information about crypto withdrawals from Robinhood in the frequently asked questions section below.
Robinhood is an American financial services platform, founded in 2013 by Vladimir Tenev and Baiju Bhatt, that allows users to trade stocks, exchange-traded funds, and cryptocurrencies commission-free via a mobile app. It is regulated by the FINRA and U.S. Securities and Exchange Commission and has a total of just over $20 billion in assets on its balance books. Robin Hood can offer commission-free stock and ETF trading because the broker gets paid on order flow.
The main difference between Robinhood and Zengo is that Robinhood is a broker providing cryptocurrency trading and custodial cryptocurrency wallet services, meaning that it holds the private keys which grant access to your cryptocurrencies on the blockchain. With the Zengo non-custodial wallet app, you’re in total control of your own private keys. Another key difference is that Robinhood focuses mainly on stocks and ETFs and provides centralized cryptocurrency exchange services apart from that, whilst Zengo mainly focuses on digital assets and Web3.
Robinhood charges no transaction fees on cryptocurrency withdrawals apart from standard miner fees. However, fiat withdrawals are subject to a 1,5% fee when cashed out to an external debit card.
With Robinhood, you can make up to 5 withdrawals per business day from your account. The maximum withdrawal amount is $50,000 to a linked bank account and $5,000 with instant transfers per day.
All withdrawals from Robinhood are processed within 10 to 30 minutes. However, it may take longer, depending on your bank and/or the desired cryptocurrency.
For beginners, there are some problems that can occur when withdrawing crypto from Robinhood. For instance, you might not be able to withdraw because you haven’t verified your account yet. It may also be a problem if you enter the wrong destination address or select the wrong blockchain network. Whenever one of these two things happens, your funds are lost forever, as cryptocurrency transactions are irreversible.
To withdraw your crypto to fiat from Robinhood, you will need to sell it within the platform using its off-ramp crypto to fiat service and then withdraw the fiat currency to the bank account connected to your Robinhood account.
Alternatively, you can send your crypto to Zengo, where you can hold it until you are ready to cash out.
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