Robinhood has become a popular platform among cryptocurrency traders. The exchange is known for its user-friendly interface, free cryptocurrency trading, and quick account opening process. However, selling crypto on Robinhood is a different story, and many traders may be confused about how to do it safely and efficiently. In this article, we’ll guide you through the process of selling crypto on Robinhood and provide answers to frequently asked questions.
Can You Sell Crypto on Robinhood?
Yes, Robinhood is not only a platform for buying but also for selling cryptocurrencies. The exchange allows you to sell any cryptocurrency you have in your account, and the process may vary depending on whether you are using the platform on the web, Android, or iOS. Keep in mind that Robinhood does not offer a wallet to its customers, so all traders have to hold their crypto funds there. Currently, Robinhood only offers seven popular cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others, but they have declared they plan to add more coins in the future.
Steps to Sell Crypto on Robinhood
Selling crypto on Robinhood is a simple process, but it may differ a little depending on the platform you are using. Here’s how to sell crypto on Robinhood on each platform:
Sell on iOS:
- Navigate to the Detail page of the cryptocurrency on the app.
- Tap “Trade” and then “Sell.”
- Look in the upper right corner and tap “Order Types”.
- Choose the preferred order type.
- Confirm your order and swipe up to submit it.
Sell on Android:
- Go to the Robinhood homepage on the mobile app.
- Scroll down to the cryptocurrencies you currently have.
- Select the cryptocurrency you wish to sell and tap on “Sell.”
- Enter the amount you would like to sell or select “Select All” if you want to sell the entire crypto amount.
- Review the information and confirm it, then swipe up to submit the order.
Sell on the Web:
- Navigate to the Detail page of the cryptocurrency on the web platform.
- From the order window, click “Sell.”
- Enter the amount of cryptocurrency you would like to sell or choose to sell the entire amount.
- Review and check the information, then confirm the order.
FAQS | How to Sell Crypto on Robinhood?
Q1: How much does Robinhood take when you sell cryptocurrency?
Buying and selling cryptocurrencies on Robinhood is commission-free, making it an attractive option for many traders.
Q2: Can you send cryptocurrency from Robinhood to another wallet?
No, you cannot send cryptocurrency from Robinhood to another wallet. All you can do on the platform is hold, buy, or sell your crypto.
Q3: How long does it take to sell crypto on Robinhood?
The time it takes to sell crypto on Robinhood depends on the order type and market conditions. Some orders may be executed instantly, while others may take some time.
Conclusion | How to Sell Crypto on Robinhood
Selling crypto on Robinhood is a simple and straightforward process. Whether you are using the platform on the web, Android, or iOS, the steps to sell crypto are easy to follow. Keep in mind that Robinhood does not offer a wallet, so all traders have to hold their crypto funds there.
