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How to Sell Crypto on Robinhood
Posted by in Crypto | Updated on August 23, 2022
Robinhood is a popular platform amongst people who love trading cryptocurrency. The exchange allows you to open an account in just a few minutes, and information technology has gratuitous cryptocurrency trading, these being but a few reasons why then many fell in beloved with what information technology has to offer. If you lot have a Robinhood account, y’all may want to sell crypto at one signal. If you want to learn how to sell crypto on Robinhood, yous can read on and y’all’ll find all the details you demand.
Can Crypto Be Sold on Robinhood?
Robinhood is a brokerage firm that gained a lot of popularity over the years, every bit it was made in society to requite people easy financial market place admission. Robinhood has been around since 2013, and information technology is great for trading cryptocurrencies.
A lot of individuals mainly apply the platform as a way to buy dissimilar cryptos and sometimes but keep them stored there. Cryptocurrency trading is available 24/vii, giving more people the take chances to merchandise whenever they wish. Cryptocurrencies tin can be bought directly and not through futures.
People trade cryptocurrency in lodge to diversify their investment portfolios. Robinhood allows yous to keep your cryptocurrency in an app that is very easy to utilize, and you can besides keep it together with all your other investments.
Only autonomously from these, you can also sell cryptocurrency on Robinhood. It is part of cryptocurrency trading, and Robinhood wants you to have the best experience with it. You can sell any cryptocurrency you have on your business relationship, and it can be done differently depending on whether y’all are using the platform on the web, Android, or iOS.
As well, on Robinhood, people aren’t allowed to ship their cryptocurrency to a different wallet. Instead, they accept to keep information technology on the Robinhood platform. All you tin practice on the platform with your cryptocurrency is hold, buy or sell. As well, you cannot receive cryptos from other people or spend your cryptocurrency on real-world purchases. Therefore, it is quite express compared to other cryptocurrency exchanges.
Robinhood doesn’t offering a wallet to its customers either. It only offers the brokerage application, so all traders have to agree their crypto funds in that location, just like they would keep their stocks and different assets.
Even though the company mentioned they have plans to create a cryptocurrency wallet, it is unclear when this is going to happen. Then, for the time being, cryptocurrency tin can but exist held on the app.
To make sure people enjoy the platform fifty-fifty with these limited features, Robinhood offers some of the most popular cryptos. They offer Bitcoin, Bitcoin SV, Bitcoin Greenbacks, Ethereum, Ethereum Classic, Dogecoin, and Litecoin. So, they but offer seven cryptocurrencies, just they are very popular and traded ones. You as well get existent-time data on the cryptocurrencies you can trade, too as ix other cryptos.
Even though yous tin only purchase and sell seven cryptos, Robinhood declared that they are planning to add together more coins to the platform. Yet, nosotros do not know when that is going to happen.
How to Sell Crypto on Robinhood
If you desire to sell crypto on Robinhood, you need to follow the right steps. The process is simple, merely it may differ a little depending on whether you are selling cryptocurrency on the web, Android or IOS. Here are the processes you should keep in heed.
Sell on iOS
On iOS phones, yous can sell cryptocurrency using the following steps:
- Go to the application and navigate to the Detail folio of the cryptocurrency.
- Tap “Merchandise”.
- Tap “Sell”.
- And so, await in the upper right corner and tap “Gild Types”.
- Cull the lodge blazon that y’all adopt.
- Now, confirm your guild.
- To submit the order, yous will have to swipe up.
Sell on Android
The Android process is similar to the iOS 1. So, hither are the steps to take when selling your cryptocurrency on Android phones:
- Become to the Robinhood homepage on the mobile app.
- Scroll down until yous accomplish the cryptocurrencies you lot currently have.
- Select the cryptocurrency that you lot wish to sell.
- Then, you lot have to tap on “Sell”.
- Enter how much yous would like to sell or use the option “Select All BTC” if you want to sell the entire crypto amount. To make things easier, the amount you take bachelor will too appear at the top of the page.
- Review the information and confirm it.
- Swipe upward to submit your order.
Sell on the Web
If you are using Robinhood on the web instead of the awarding, the process will be slightly unlike. Hither is what yous will have to do to sell crypto on the web:
- Access Robinhood and and so navigate to the Detail page of the cryptocurrency.
- From the order window you lot have on the correct side of your screen, click “Sell”.
- Now, enter the amount of cryptocurrency you would like to sell, or cull to sell the entire amount.
- Click Review and check whether the data is correct before proceeding.
- Confirm the order.
Selling Crypto on Robinhood FAQ
Selling cryptocurrency on Robinhood is non difficult, just you may nonetheless be left with some questions. If that’due south the case, here are some of the near frequently asked questions:
How much does Robinhood take when you lot sell Cryptocurrency?
Buying and selling cryptocurrencies on Robinhood is free of commission, which makes the platform very benign for many people. This is better than other cryptocurrency exchanges, where they accuse you up to iv% to sell your crypto. Robinhood doesn’t charge anything, so information technology is easier to understand and use, especially for beginner traders.
How long does it accept when y’all sell Crypto on Robinhood?
The time it takes to sell crypto on Robinhood may depend. You can merchandise cryptocurrency 24/vii, but crypto sales ordinarily become available for purchase in nigh 3 business days. If you lot have a Robinhood Instant account, you may obtain instant access to funds up to $one,000 so you tin can kickoff trading cryptocurrency. The residuum of your funds that are non available instantly will only appear in your account after the settlement times.
Read More
- How to Make Coin with Cryptocurrency
- How to Withdraw from Binance
- How to Transfer From Coinbase to Coinbase Pro
- How to Transfer from Coinbase to Binance
- How Does Cryptocurrency Gain Value?
- How to Read Crypto Charts
Terminal Thoughts
You can sell cryptocurrency on Robinhood, crypto trades being one of the amazing features that the application has to offering. You have seven cryptocurrencies available, and although there is no separate crypto wallet business relationship for traders, you can first selling cryptocurrency directly from the Robinhood app.
The selling process is like for Android and iOS devices, but it is a bit different when it’s performed on the spider web. If you accept any crypto amount in your account, yous will take to find it and select how much you wish to sell. You have the option to sell a partial amount or the full amount. When you are done inbound how much you want to sell, y’all accept to review your gild and and so ostend it. You tin can sell crypto at any time of the day and on any day of the calendar week.
Knowing how to sell crypto on Robinhood will be useful if you want to get a cryptocurrency trader, so make sure to follow the right steps.
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