Crypto traders consider moving their assets from Robinhood to Crypto.com for many reasons. The common and most widespread intention for doing this is to prevent the restriction from Robinhood on crypto transfers, both to external wallets and from an external wallet.
Though plans to add a wallet for the exchange are brooding, not until then can there not be transfers of cryptocurrencies.
Nevertheless, it will be narrated below how you can wind up cryptocurrencies on Robinhood and turn to Crypto.com.
Having a Crypto.com wallet allows you to dispatch and earn cryptocurrencies.
How To Transfer Crypto From Robinhood To Crypto.com?
There is no way to directly transfer crypto from Robinhood to Crypto.com. You can sell Crypto in Robinhood then transfer your amount to a bank account, after depositing this amount to Crypto.com and buying crypto.
In advance of the unique Robinhood wallet being implemented, the only way to get cryptocurrencies swapped to Crypto.com is to sell off your assets on Robinhood. Then, get the money to be transferred to your bank account. Succeeding is to transfer the money to your Crypto.com account and recover it.
Not to forget; this has the potential to earn you huge profit as well as a loss when the price fluctuates in the process of transferring the fund from Robinhood to Crypto.com.
If you prefer to sell off your Robinhood assets and transfer them to Crypto.com, here is what to do!
Step 1. Put Up for Sale your Robinhood Cryptocurrencies
If you cannot do a transfer transaction, sell off the cryptocurrency you were to transfer to Crypto.com.
Remember, charges may apply if you sell with good profit.
Guide to Sell Off Cryptocurrencies of Robinhood
1. Search for the cryptocurrency you want to sell and Tap [Trade]
2. Click on [Sell]
3. Type in the amount of cryptocurrency you put into selling in dollars.
4. Tap on [Review] to ensure every detail for the transaction is not mistaken.
5. Leave the page to present your request by clicking [Submit]
Step 2. Transfer Funds from Robinhood To Your Bank Account
Succeeding your sale of crypto is to transfer the fund to your bank account verified with Robinhood.
Guide To Transfer Funds to Bank accounts for Android Users
1. In the right-hand corner of the screen, find and click on your Account.
2. Tap on the [Transfers] button and select [Transfer to Bank].
3. Select the bank account you want to convey the fund to.
4. Type in the amount you want to convey
5. Hit the [Submit] button immediately after ensuring the transaction detail is not mistaken.
Guide To Transfer Funds to Bank account For Website Users
1. In the right-hand corner of the screen, find and click on your Account.
2. Click on the [Banking] button
3. Begin the transfer transaction.
Now you have completed your transfer from Robinhood to your Bank account; the next step is to get your Crypto.com account. And to do this, follow the step below.
Note: This step is for account owners with Crypto.com. If you don’t own an account, you can go ahead and create one before you proceed with this step.
Guide to Transfer Fund from Bank Account to Crypto.com Account
1. Recharge your Visa card from Crypto.com.
2. Navigate to the page where the card is found.
3. Click on the [Top Up] button.
4. Choose the [Fiat Wallet] option.
5. Type in the recharge amount in dollars[USD]
6. Verify all the detail and ensure there’s no mistake
7. Click on Confirm to complete the transaction
Note: (The entire transaction will take up to fifteen seconds).
When you’ve successfully funded your Crypto.com account, go ahead and repurchase the cryptocurrency you put up for sale in the Robinhood market.
Also Read: Is Robinhood FDIC & SIPC Insured?
How To Transfer Crypto From Crypto.com To Robinhood?
There is no way to directly transfer crypto from Crypto.com to Robinhood. You can sell Crypto in Crypto.com then transfer your amount to a bank account, after depositing this amount to Robinhood and buying crypto.
Transferring crypto to Robinhood is still impossible, so the step above applies here.
Firstly, you have to withdraw from your Crypto.com account to your Bank Account, then use it to fund your Robinhood account to purchase your choice cryptocurrency.
Guide to Transfer from Bank Account to Robinhood
- Login to Robinhood, Click the [Account] button located below the page (Web user) or Click the [Menu] button located on top of the page.
- Click on the [Transfers] button
- Click [Transfer to Robinhood].
- Select the type of account you want to transfer from.
- Type in the amount.
- Examine all transaction details are correct
- Acknowledge your deposit.
When you are done funding your Robinhood account, purchase the cryptocurrency.
Conclusion
Now you can take a deep breath, finding out how to deal with Robinhood restriction to crypto transfer.
Applying the guide above allows you to save your cryptocurrency on another account, not minding how hard Robinhood makes it for investors considering their constraints.
Take Note: Beginning a transfer process should be when you have a ready bank account to receive the fund from Robinhood. This is to avoid time-wasting.
