How to Send Bitcoin from Robinhood to Blockchain

Transferring Bitcoin from Robinhood to a Blockchain wallet involves a series of steps that ensure your assets are moved securely and efficiently. Robinhood is a popular platform for trading various assets, including cryptocurrencies like Bitcoin. However, it does not support direct transfers to external wallets. This guide will walk you through the process of transferring Bitcoin from Robinhood to a blockchain wallet by first selling it on Robinhood and then purchasing it through a different exchange or wallet that allows for external transfers.

Step 1: Sell Your Bitcoin on Robinhood

1. Open the Robinhood App: Launch the Robinhood app on your mobile device or access it via the web platform.
2. Navigate to Your Cryptocurrency Holdings: Go to the 'Crypto' tab where you can see your Bitcoin holdings.
3. Sell Your Bitcoin: Select Bitcoin from your list of cryptocurrencies and choose the option to sell. Follow the prompts to complete the sale. This action will convert your Bitcoin into US dollars or your preferred fiat currency within your Robinhood account.

Step 2: Withdraw Funds from Robinhood

1. Transfer to Bank Account: Once you have sold your Bitcoin, you need to transfer the funds to your linked bank account. Go to the 'Account' tab and choose 'Transfer' to move your funds to your bank.
2. Wait for Transfer: This process may take a few business days depending on your bank's processing times. Ensure that you have completed all necessary verification steps required by Robinhood for a smooth transfer.

Step 3: Purchase Bitcoin from Another Exchange

1. Choose a Cryptocurrency Exchange: Select an exchange that supports external wallet transfers and is compatible with your bank account. Examples include Coinbase, Binance, or Kraken.
2. Create an Account: Sign up and complete any necessary KYC (Know Your Customer) procedures on the chosen exchange.
3. Deposit Funds: Transfer the money from your bank account to your new exchange account.
4. Buy Bitcoin: Once your funds are deposited, you can use them to purchase Bitcoin on the exchange platform.

Step 4: Transfer Bitcoin to Your Blockchain Wallet

1. Obtain Your Blockchain Wallet Address: Open your blockchain wallet and copy your Bitcoin receiving address. Ensure that this address is correct to avoid losing your Bitcoin.
2. Initiate Transfer from Exchange: Go to the 'Withdraw' or 'Send' section on your cryptocurrency exchange where you purchased Bitcoin. Paste your blockchain wallet address into the appropriate field and enter the amount of Bitcoin you wish to transfer.
3. Confirm the Transaction: Review all details carefully before confirming the transaction. The Bitcoin will be sent to your blockchain wallet once the transaction is processed.

Key Considerations

• Fees: Be aware of transaction fees at each stage—selling on Robinhood, transferring to your bank account, purchasing on the new exchange, and transferring to your blockchain wallet.
• Security: Always double-check wallet addresses and use secure platforms to prevent any loss of funds. Consider enabling two-factor authentication (2FA) on all accounts.
• Timing: Cryptocurrency transactions can sometimes take longer due to network congestion or maintenance periods. Plan accordingly to avoid delays.

Table of Fees and Timelines

Stage	Fee	Timeframe
Selling Bitcoin on Robinhood	No direct fee	Instant to 1 business day
Bank Transfer	Variable by bank	1-3 business days
Purchasing Bitcoin on Exchange	Variable by exchange	Instant to 1 hour
Transfer to Blockchain Wallet	Network fee applies	10 minutes to 1 hour

Conclusion

Transferring Bitcoin from Robinhood to a blockchain wallet requires selling the Bitcoin, withdrawing the funds, purchasing Bitcoin from another exchange, and then transferring it to your blockchain wallet. While Robinhood offers a convenient platform for trading, its limitations on direct transfers necessitate these additional steps. By following this guide, you can successfully move your Bitcoin to a more flexible and secure wallet.