Yes, you can cash out your crypto on Robinhood! This guide will walk you through the process step-by-step, covering everything from transfer limits to fees and processing times. We’ll also answer some frequently asked questions about cashing out crypto on Robinhood.
Here’s what you’ll learn:
- How to cash out your crypto on Robinhood
- Transfer limits and fees
- Processing times
- Frequently Asked Questions
Ready to cash out your crypto? Let’s get started!
How to Cash Out Your Crypto on Robinhood
Step 1: Go to your Robinhood account
Step 2: Select the “Transfers” option.
Step 3: Choose “Transfer money.”
Step 4: Select the Robinhood account you want to withdraw money from,
Step 5: Select a linked bank account to withdraw to.
Step 6: Enter the amount you’d like to transfer.
Step 7: Review the withdrawal and confirm any associated fees.
Step 8: Select “Transfer.”
That’s it! Your withdrawal will be processed and the funds will be deposited into your bank account within a few business days.
Transfer Limits and Fees
There are no fees for standard bank transfers. However, instant withdrawals to a debit card or bank account can incur up to a 1.75% fee.
Your daily withdrawal limit (amount and frequency) may vary depending on your account type and activity. You can check your daily withdrawal limit before you submit your transfer or by going to Transfers → Transfer limits.
Processing Times
Standard bank transfers (originated ACH):
- Your daily withdrawal limit (amount and frequency) may vary and reset at 7 PM ET.
- You’ll see your daily withdrawal limit (amount and frequency) before you submit your transfer or by going to Transfers → Transfer limits.
Debit card transfers and instant bank withdrawals:
- Your daily withdrawal limit (amount and frequency) may vary and reset at 12 AM ET.
- You’ll see your daily withdrawal limit (amount and frequency) before you submit your transfer or by going to Transfers → Transfer limits.
Frequently Asked Questions
Can I cash out all of my crypto on Robinhood?
No, you may not be able to cash out all of your crypto on Robinhood if it is subject to any of the following exclusions:
- Investing or retirement account:
- Settlement period
- Pending deposits
- Cash held for pending orders
- Referral stock
- Margin investing
- Options collateral
- Spending account:
- Pending debit card transactions
- Round-ups
How long does it take to cash out crypto on Robinhood?
Standard bank transfers (originated ACH) typically take 2-3 business days to process. Debit card transfers and instant bank withdrawals typically take 1-2 business days to process.
What are the fees for cashing out crypto on Robinhood?
There are no fees for standard bank transfers. However, instant withdrawals to a debit card or bank account can incur up to a 1.75% fee.
What are the transfer limits for cashing out crypto on Robinhood?
Your daily withdrawal limit (amount and frequency) may vary depending on your account type and activity. You can check your daily withdrawal limit before you submit your transfer or by going to Transfers → Transfer limits.
Can I cancel a withdrawal?
Yes, you can cancel a pending withdrawal in your app. To do so, select Account (person icon) → Menu (3 bars) → History. In Pending, select the pending bank withdrawal you want to cancel and select Cancel transfer.
What if I have a problem cashing out my crypto on Robinhood?
If you have any problems cashing out your crypto on Robinhood, please contact Robinhood Support.
Cashing out your crypto on Robinhood is a simple and straightforward process. Just follow the steps outlined in this guide and you’ll have your funds in your bank account within a few business days.
Here are some additional resources that you may find helpful:
- Robinhood Crypto Transfers: https://robinhood.com/support/articles/crypto-transfers/
- Robinhood Withdraw Money: https://robinhood.com/support/articles/withdraw-money-from-robinhood/
Brokerage services are offered through Robinhood Financial LLC, (“RHF”) a registered broker-dealer (member SIPC) and clearing services through Robinhood Securities, LLC, (“RHS”) a registered broker dealer (member SIPC). Cryptocurrency services are offered through Robinhood Crypto, LLC (“RHC”) (NMLS ID: 1702840). The Robinhood Money spending account is offered through Robinhood Money, LLC (“RHY”) (NMLS ID: 1990968), a licensed money transmitter. Credit card products are offered by Robinhood Credit, Inc. (“RCT“) (NMLS ID: 1781911 and issued by Coastal Community Bank, Member FDIC, pursuant to a license from Visa U.S.A. Inc.
Trading options carries a high risk and is not suitable for all clients. Before using any options trading strategies, customers must read and comprehend the Features and Risks of Standardized Options. Options transactions can be quite complicated and carry a risk of losing the entire investment in a short amount of time. There is additional risk associated with certain complex options strategies, such as the possibility of losses exceeding the initial investment amount.
The term “commission-free trading” pertains to the absence of fees for self-directed, individual cash or margin brokerage accounts operated by Robinhood Financial that trade stocks, ETFs, and options. S. listed securities and certain OTC securities electronically. Remember that your brokerage account may be subject to additional fees, such as wire transfer fees, paper statement fees, Gold subscription fees, and trading (non-commission) fees. Please see Robinhood Financials Fee Schedule to learn more.
With permission from Mastercard® International Incorporated, Sutton Bank, Member FDIC, issuing the Robinhood Cash Card, a prepaid card. Affiliated companies and fully owned subsidiaries of Robinhood Markets, Inc. are RHF, RHY, RHC, and RHS. RHF, RHY, RHC and RHS are not banks. The securities products that RHF offers are not covered by the FDIC and carry risk, which could result in the loss of principal. Cryptocurrencies kept in RHC accounts are not subject to FINRA regulation and are not protected by the FDIC or SIPC. While funds held in Robinhood Money spending accounts and Robinhood Cash Card accounts may qualify for FDIC pass-through insurance, RHY products are not covered by SIPC (review the Robinhood Cash Card Agreement and the Robinhood Spending Account Agreement)