Bitcoin is a digital currency that has taken the world by storm. With its increasing popularity, many cryptocurrency trading platforms have emerged to cater to the needs of traders. Robinhood and Coinbase are two of the most popular platforms for buying, selling, and storing bitcoin. However, many users have found it challenging to move their bitcoin from Robinhood to Coinbase. In this article, we will guide you on how to move bitcoin from Robinhood to Coinbase.
Step 1: Create a Coinbase Account
Before you can transfer your bitcoin from Robinhood to Coinbase, you need to have a Coinbase account. If you don’t have one yet, you can create an account by following these simple steps:
1. Go to the Coinbase website and click on the “Sign Up” button.
2. Enter your email address, password, and country of residence.
3. Verify your email address by clicking on the verification link sent to your email.
4. Provide additional information, including your name, date of birth, and phone number.
5. Complete the verification process by uploading a government-issued ID.
Once you have completed the verification process, you can proceed to the next step.
Step 2: Generate a Coinbase Wallet Address
To transfer your bitcoin from Robinhood to Coinbase, you need to have a Coinbase wallet address. A wallet address is a unique string of characters that identifies your wallet on the blockchain. To generate a wallet address in Coinbase, follow these steps:
1. Log in to your Coinbase account.
2. Click on the “Accounts” tab and select “Bitcoin” from the list of cryptocurrencies.
3. Click on the “Receive” button next to the Bitcoin wallet.
4. Copy the wallet address that is displayed on the screen.
Step 3: Sell Bitcoin in Robinhood
Once you have a Coinbase wallet address, you can sell your bitcoin in Robinhood. To sell your bitcoin in Robinhood, follow these steps:
1. Log in to your Robinhood account.
2. Click on the “Account” tab and select “Bitcoin” from the list of cryptocurrencies.
3. Click on the “Sell” button and enter the amount of bitcoin you want to sell.
4. Click on the “Review” button and confirm the transaction.
5. Wait for the transaction to be completed.
Step 4: Transfer Bitcoin from Robinhood to Coinbase
Once you have sold your bitcoin in Robinhood, you can transfer the funds to your Coinbase wallet. To transfer your bitcoin from Robinhood to Coinbase, follow these steps:
1. Log in to your Coinbase account.
2. Click on the “Accounts” tab and select “Bitcoin” from the list of cryptocurrencies.
3. Click on the “Send” button.
4. Enter the amount of bitcoin you want to transfer and paste the Coinbase wallet address you generated earlier.
5. Click on the “Continue” button and confirm the transaction.
6. Wait for the transaction to be completed.
Step 5: Verify Bitcoin Transfer in Coinbase
Once the transfer is completed, you should see the bitcoin in your Coinbase wallet. To verify the transfer, follow these steps:
1. Log in to your Coinbase account.
2. Click on the “Accounts” tab and select “Bitcoin” from the list of cryptocurrencies.
3. Check your Bitcoin wallet balance to see if the transfer was successful.
Conclusion
Moving bitcoin from Robinhood to Coinbase is a simple process that requires you to sell your bitcoin in Robinhood and transfer the funds to your Coinbase wallet. By following the steps outlined above, you can easily transfer your bitcoin between the two platforms. However, it is essential to note that cryptocurrency transactions can be volatile due to market fluctuations, and you should exercise caution when making transfers.