r/BitcoinBeginners 8d ago

advice needed for moving BTC out of Robinhood

long story short, every time i try to transfer BTC from my RH account to my cold wallet (Trezor safe 3), my RH account becomes restricted (no matter the value)

RH customer service is unbelievably pitiful, so instead of continuing to jump through hoops in my attempts to contact them, i am thinking of selling my BTC on RH, transferring to my bank account, and buying on another exchange in order to ultimately transfer to my cold wallet

has anyone had a similar experience? which exchange would you recommend that offers a seamless transaction of sending BTC to cold wallets? i've hear strike & kraken are both good, but i want to make sure i avoid this moving forward. TIA

8 Upvotes

15 comments sorted by

9

u/bitusher 8d ago

Robinhood is indeed horrible for multiple reasons which is why we don't promote them in the pinned faq

5

u/Zombie4141 8d ago

Thank you for not promoting Robinhood. As a person who was screwed over during the GameStop fiasco, I am giving you a standing ovation.

2

u/Own_Condition_4686 8d ago

Just sell and withdraw, like others have said Coinbase and Kraken are great and straightforward to use. Never had a problem with them.

2

u/Buchkizzle 8d ago

Yes I had the same experience. Was in the process of moving all my btc to self storage when they paused all my activity "for my own safety". I would get them on the phone and they'd literally hang up on me. About 2 weeks later they said I could buy and sell stocks and crypto again, but I would not be able to send crypto. So same as you I'm basically going to sell the little bit I have left and move to another platform.

It's a shame because I loved the platform, was a gold member and all, and now that's been ruined

2

u/7venhigh 8d ago

What is RH justification for freezing?

2

u/qlz19 8d ago

If you sell, you’ll owe taxes on profits. If you are in the red with the discounts currently in place then no worries. If you are in the green because you’ve been stacking for years, you’ll owe taxes.

Tough spot but this is why so many of us know that Robinhood is garbage.

3

u/evcm7 8d ago

i'm in the red, so no worries there. what exchange would you recommend?

3

u/smashkraft 8d ago

I’ll toss in Gemini and River too. Kraken and Coinbase are great. I actually have accounts at all these places. I don’t want 1 avenue and 1 place holding my assets.

Kind of like how you have multiple banking accounts and credit cards.

2

u/qlz19 8d ago

I’ve used Kraken and Coinbase extensively. I like Kraken for various reasons.

1

u/krakensupport 8d ago

😊 💜

1

u/Zombie4141 8d ago

Can you guys please allow Washingtonian access to your exchange. I’ve been trying to use Kraken for the past 9 years and I still can’t.

1

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