Not long after its launch in 2013, Robinhood earned recognition for "democratizing" – much like its legendary literary namesake – stock trading, with commissionless trades that opened financial markets to everyday investors. In 2018, the platform extended into crypto, introducing trading for Bitcoin (BTC) and Ethereum (ETH). Since then, it’s steadily added altcoin offerings and web3 features, maintaining its reputation for innovation, and is currently one of the top CEXs by volume.

True to its user-friendly design, Robinhood simplifies the process of transferring funds to a bank account, whether you're using it for stocks, crypto, or both. In this guide, we'll explain how to take money out of Robinhood and how to transfer money from Robinhood to a bank with ease. We’ll also walk you through the process of selling crypto on the platform so that you’ll be set to convert your digital assets into cash whenever needed.

How do I withdraw money from Robinhood?

With a linked bank account or debit card, withdrawing cash from Robinhood is straightforward. Robinhood’s simple interface ensures you can access your funds with minimal effort, whether you’re using the app or desktop platform.

How to withdraw money from the Robinhood mobile app 

1. Tap the person icon to reach the "Account" page.
2. Open the three-bar menu.
3. Select "Transfers."
4. Tap "Withdraw."
5. Enter the amount of money to transfer out. 
6. Choose the Robinhood account to withdraw the funds from (e.g., Investing or Retirement).
7. Select a linked bank account or debit card for the transfer.
8. Choose between an instant withdrawal or a regular ACH transfer. 
9. Double-check all details to make sure everything’s correct.
10. Tap “Transfer” to complete the process.

How to withdraw money from Robinhood on a desktop

1. Go to the "Account" tab. 
2. Select "Transfer" and then "Transfer Money." 
3. Enter the withdrawal amount. 
4. Choose the Robinhood account to pull funds from. 
5. Select the linked bank account or debit card for the transfer. 
6. Choose between an instant withdrawal or an ACH transfer.
7. Review the withdrawal details to make sure everything’s correct.
8. Confirm the transfer. 

How long does a Robinhood withdrawal take? 

The time it takes to receive money from Robinhood depends on the withdrawal type. 

• Instant withdrawals: For a small fee, funds usually arrive within minutes and never exceed 24 hours to process.
• Standard ACH transfers: These are free and typically take up to five business days.

Robinhood cash withdrawals: Rules, fees, and limits

No matter how much money is in a Robinhood account, users must follow the platform's daily withdrawal limits. For ACH transfers to linked bank accounts, the daily limit is $50,000, and it resets at 7 p.m. EST on business days.

For faster access, Robinhood offers instant withdrawals to bank accounts or debit cards. These transfers don’t have a fixed daily limit – instead, limits vary based on each trader’s credentials. To check instant transfer limits, go to the Account page, select Menu or Settings, and navigate to Transfers and then Transfer Limits. Instant transfer limits refresh daily at 12 a.m. EST.

Standard ACH bank transfers are free, but instant withdrawals to a bank account or a debit card incur a 1.75% fee.

How to sell crypto on Robinhood

Before transferring fiat currency to a bank, users need to sell their cryptocurrency positions unless they already have cash in their Robinhood account. If users hold a cryptocurrency like Bitcoin (BTC) on Robinhood, they have four main options to sell their digital assets for dollars:

• Market order: This is the fastest way to sell cryptocurrency on Robinhood. Market orders execute immediately, provided the price doesn’t fluctuate more than 5% during the transaction. If the price moves outside this range for over five minutes, the order may be canceled, and users retain their positions.
• Limit order: Limit orders allow traders to set a specific price for selling. The order only executes if the cryptocurrency reaches the user’s target price.
• Stop order: A stop order requires the cryptocurrency to hit a predefined "stop price" before converting into a market order. Once activated, it sells at the current market rate.
• Stop limit order: For maximum control, stop limit orders combine stop and limit features. First, the cryptocurrency must hit a "stop price," triggering an active limit order. Then, the order only executes if the crypto reaches the preset limit price.

Steps to sell crypto on Robinhood

Whether you’re using the mobile app or desktop, follow these steps to sell your crypto:

1. Navigate to the “Crypto” section.
2. Select the cryptocurrency to sell.
3. Tap or click “Sell.”
4. Enter the amount to sell in US or crypto denominations (e.g., $50 or 0.0005 BTC).
5. Use the down arrow to access the “Actions” menu and choose a sell order type.
6. Finalize the order by clicking the “Sell” button or swiping up on the mobile app.

Important note on taxes

In many jurisdictions, selling cryptocurrency for cash triggers a taxable event subject to capital gains taxes. To simplify tax reporting, CoinTracker automatically tracks transaction details and generates IRS-compliant tax forms. CoinTracker also offers tax-loss harvesting tools to help you identify opportunities to lower your annual tax burden.

Does Robinhood let users withdraw crypto? 

Yes, Robinhood allows users to transfer cryptocurrency to external wallet addresses, similar to other centralized crypto exchanges (CEXs) like Coinbase and Gemini. Robinhood also offers its own wallet, giving users more control over their digital assets while still benefiting from its exchange services. To enable this feature, users must first pass an identity verification process and set up two-factor authentication (2FA) as part of Robinhood’s know-your-customer (KYC) policies.

Steps to withdraw crypto from Robinhood

1. Select the cryptocurrency to send: Navigate to the crypt you want to transfer and click or tap “Send.”
2. Enter the amount: Specify the amount of crypto to withdraw.
3. Paste a compatible wallet address: Copy the wallet address from your external crypto wallet (e.g., MetaMask for Ethereum) and paste it into Robinhood’s withdrawal page. Make sure the wallet address matches the cryptocurrency you’re sending to avoid losing funds.
4. Review the details: On the “Review” page, confirm all the information is accurate, including the recipient address and amount.
5. Submit the transaction: Click or tap “Submit” to process the withdrawal, and Robinhood will send the crypto to the respecting blockchain for processing.

Important notes

• Accuracy matters: Using an incorrect address or selecting the wrong cryptocurrency could result in losing your funds permanently. Always double-check the recipient’s wallet address.
• Transfer limits: Robinhood imposes variable limits for different cryptocurrencies. Users can view their specific caps under the “Transaction Limits” tab.
• Fees: Withdrawal fees depend on factors like the cryptocurrency type and current blockchain congestion.

Tracking crypto withdrawals

Robinhood doesn’t offer a built-in blockchain explorer, but it provides a “Transaction Hash” for each crypto withdrawal. Users can use this hash on blockchain explorer websites, such as Etherscan (for Ethereum) or Blockchain.com (for Bitcoin), to track their transfers in real time. These tools display transaction details, including confirmations and recipient addresses, ensuring transparency and accuracy throughout the process.

Experience hassle-free crypto tax reporting with CoinTracker

Whether you exchange digital assets for cash, stablecoins, or other cryptocurrencies, these transactions can have tax implications. CoinTracker simplifies this process with tools that track your activity and generate IRS-compliant tax forms. CoinTracker’s portfolio tracker also helps identify tax-loss harvesting opportunities to potentially reduce your yearly tax burden.

Get started for free and see why millions of crypto traders rely on CoinTracker to simplify their tax reporting and stay stress-free during tax season.

Disclaimer: This post is informational only and is not intended as tax advice. For tax advice, please consult a tax professional.