Robinhood Crypto Sending Limit and Withdrawal Options Explained

So you're looking to send cryptocurrency on Robinhood and want to know the sending limit and withdrawal options. The good news is that Robinhood Crypto allows you to send cryptocurrencies like Bitcoin and Ethereum to other users.

The sending limit on Robinhood Crypto is determined by your account level. As a basic account holder, you can send up to $1,000 worth of cryptocurrency per day. However, if you're a Gold or higher account holder, your sending limit increases to $5,000 per day.

You can withdraw your cryptocurrencies to an external wallet or exchange, but be aware that there may be some fees associated with the withdrawal process.

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Sending limits are in place to ensure the security and stability of your Robinhood Crypto account. You can transfer up to $5,000 worth of crypto in one 24-hour period.

The maximum number of transfers you can make in a 24-hour period is ten. If you used Instant Purchase to buy your crypto, you may need to wait for the transaction to settle before you can transfer it.

If this caught your attention, see: How Long Do Robinhood Crypto Transfers Take

Robinhood doesn't charge any extra fees for transferring your tokens, but you may have to pay small network fees for processing blockchain transactions. These fees are a nominal portion of your total balance.

To send crypto, you'll need to go to the crypto's detail page, select Send, and enter the amount you'd like to send. Be sure to paste the crypto address of the receiving wallet correctly, as sending to an incompatible or inaccurate address might result in a loss.

Here are the general steps to send crypto:

Note that you should never send crypto back to a Robinhood Crypto address you received it from. The crypto address used for withdrawals is not the same as your deposit address.

If this caught your attention, see: What Is a Crypto Wallet Address

You can withdraw your crypto from Robinhood, but be aware that fees apply. The network fee varies based on the coin type and network activity.

The network fee is paid in the specific coin being transferred, unless it's an ERC-20 token transfer, in which case the fee is paid in ETH. Robinhood debits your ERC-20 token balance directly to pay the network fee.

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Here's a breakdown of the network fee:

Withdrawal fees can be a bit tricky to understand, but don't worry, I've got you covered.

The network fee, which varies based on coin type and network activity, applies to all on-chain crypto transactions on Robinhood. This means that if you're sending crypto, you'll need to pay a fee in addition to the amount you're sending.

In a mock scenario, if you send 100 DOGE and the network fee is 1 DOGE, 101 DOGE will be sent to the network. This is because the network fee is added on top of the amount you're sending.

For ERC-20 token transfers, the network fee is paid in ETH. Robinhood permits this transfer without an ETH balance, as it debits your ERC-20 token balance directly.

Here's a breakdown of the network fees you can expect to pay on Robinhood:

Withdrawal options can be complex, but understanding the pros and cons can help you make an informed decision.

A significant pro of withdrawal is that it allows you to access your funds when needed, whether it's for a medical emergency or a financial setback.

One con of withdrawal is that it may incur fees, which can range from 1-3% of the withdrawal amount, as seen in the example of a 2% fee on a $1,000 withdrawal.

Withdrawing funds can also impact your credit score, although the extent of the impact depends on the type of account and the withdrawal amount.

Some withdrawal options may have a higher fee for non-registered accounts, such as a 2.5% fee on a non-registered account, as mentioned in the article.

On the other hand, some withdrawal options may not have any fees at all, making them a more attractive choice for frequent users.

It's worth noting that some accounts may have a minimum withdrawal amount, such as $100, as seen in the example of a $100 minimum withdrawal for a certain type of account.

In some cases, withdrawal may also require a waiting period, such as 30 days, before the funds are available.

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You can buy, sell, or hold a wide range of cryptocurrencies on Robinhood Crypto, but it's essential to review their full list of supported coins before making any transactions.

Not all coins available for trading can be transferred, so be sure to check the Supported address formats for crypto transfers for the most up-to-date information.

Sending unsupported coins to your Robinhood Crypto account may result in a loss of crypto, and these transactions are irreversible, so it's crucial to confirm that the coin and network are supported before transferring.

Addresses on different networks might not be cross-compatible, so always confirm that the address and network match before transferring.

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Robinhood applies a few limits to your crypto account, so it's essential to understand them before sending or transferring your crypto.

You can only transfer up to $5,000 worth of crypto in one 24-hour period.

Additionally, there's a limit of up to ten transfers total, so be mindful of that when sending large amounts of crypto.

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If you used Instant Purchase to buy your crypto, you may need to wait for the transaction to settle before you can transfer it.

Robinhood doesn't currently charge any fees for transferring your tokens, which is great news.

However, you may have to pay small fees for processing the blockchain transactions, known as network fees.

Any fees deducted will be a nominal portion of your total balance, so it's not something to worry about.

You can transfer and withdraw your crypto from Robinhood, but be aware that there are some nuances to consider.

Transfer fees apply to all on-chain crypto transactions on Robinhood, and the network fee varies based on coin type and network activity. The network fee is sometimes called a miner fee or gas fee, and it's estimated before you finalize a transfer out of your Robinhood Crypto account.

The network fee is added to the amount you want to send, so if you send 100 DOGE and the network fee is 1 DOGE, a total of 101 DOGE is sent to the network. This means you'll receive 99 DOGE if you select the Send All option, as the estimated network fee is deducted from the total amount you send.

ERC-20 transfer fees work differently, as you pay the network fee in Ether (ETH) when withdrawing ERC-20 tokens on the Ethereum blockchain. However, Robinhood automatically calculates the ETH equivalent and debits your ERC-20 token balance directly, so you don't need an ETH balance to complete an ERC-20 token transfer.

Here's a breakdown of the different types of transfer fees and network confirmations required:

To transfer your crypto, log in to your Robinhood account, click on the Crypto tab, and select the cryptocurrency you'd like to transfer. Then, select Send & Receive, choose the currency you'd like to use to specify the transfer amount, enter how much you want to send, and paste your external wallet address in the Send to box. Finally, review the transfer and confirm you want to send your crypto.