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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 a must-have crypto wallet for those seeking a secure non-custodial wallet on which to store cryptocurrencies and NFTs as well as access DeFi trading and staking platforms.
Zengo is one of the safest and most secure crypto wallets available to retail users today. The wallet app utilizes state-of-the-art MPC technology, three-factor authentication with biometric login and transaction confirmation for an extra layer of security. With Zengo, you don’t need to remember any difficult seed phrases as your face is used to generate a truly unique and secure seed to access your digital assets!
With Zengo’s non-custodial wallet, you are in complete control of your own private keys without having to worry about security or losing access to your funds. Furthermore, our fiat on-ramp service allows you to easily diversify and grow your crypto portfolio by purchasing your crypto of choice with fiat currency. Aside from that, you can also take part in our savings program.
If you ever need any assistance with your Zengo wallet, you can contact our real human customer support staff at any time, even on weekends and holidays. Alternatively, you can check out our Help page to see if your question has already been answered.
With Zengo, you can easily send crypto to other wallets or ‘’cash out’’ to fiat whenever you want. To send crypto to other wallets, tap on the ‘’Actions’’ button located in the main menu followed by ‘’Send’’. Now, simply fill in the amount of crypto you want to send, paste the receiving address or scan the QR code, and verify the transaction.
Rather cash out your crypto earnings to fiat? No problem! Simply tap on the ‘’Actions’’ button, and then on the ‘’Sell’’ button. As of writing this guide, you can sell your digital assets for Euros, British Pounds, and/or United States Dollars.
Note that you have to connect your bank account to your Zengo wallet prior to requesting a fiat withdrawal and that it may take a few days for your funds to arrive.
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. Robinhood crypto transfer time usually takes up to 24 hours.
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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