How to Setup Robinhood Crypto Wallet

I will show you how to setup Robinhood Crypto wallet and it's advantages like no withdrawal fees - just miniscule gas fee for confirming in the network. With Robinhood crypto wallets, you can transfer your crypto into and out of your Robinhood Crypto account in a few taps. This means you can consolidate your coins into one account so it’s easier to track your portfolio, move supported coins into your Robinhood account so you can trade those coins commission-free, and more. To begin with Robinhood Crypto wallet, you will need to sign up for Robinhood account. I will provide a link below. You need to show interest on Robinhood Crypto wallet and get a invitiation message. I received my invitation on message section of regular Robinhood accounts.

Activating crypto wallets

Crypto’s decentralized nature means there’s a greater need for security to ensure that you—and only you—can transfer coins into or out of your Robinhood Crypto account.

To enable crypto wallets, you’ll need to verify your identity and add two-factor authentication to your account. Once you complete those steps, it may take approximately up to five business days to review your info and enable crypto wallets.

Verifying your identity

Verify your identity using:

A photo of your government-issued ID: Acceptable forms of ID include a driver’s license, state ID, passport, passport card, or permanent resident card.

A live photo of yourself: You may be asked to take a selfie using your smartphone or webcam. Make sure you’re in a well-lit place to take your photo.

Adding two-factor authentication

Two-Factor Authentication (2FA) provides an additional layer of security to your account. 2FA is more secure because it requires two sources of verification: something you know (your password) and something you have (the code you generate or receive on your device). It’s much harder for attackers to gain access to both of these, and it can help protect you in case an attacker learns your password.

To enable crypto wallets, you’ll need to confirm your phone number and email address, and also set up a 2FA authenticator app like Authy, Duo Mobile, or Google Authenticator.

Confirming your phone number: We’ll send a code via text message to the phone number linked to your Robinhood account. Enter the code you receive to confirm your phone number. I would not recommend using SMS as the 2FA authenticator due to SIM Swap attackes by hackers who convince the telephone company that it is you who lost the phone and needs to port your phone number to the new SIM.

Verifying your email address: We’ll send an email to the email address associated with your Robinhood account. Click the link in the email to confirm your email address.

Setting up an authenticator app: First, you’ll need to download an authentication. Robinhood support major third-party apps such as Authy, Duo Mobile or Google Authenticator.

If you ever lose your phone, you can use this backup code instead of the one Robinhood send you via SMS. Robinhood recommend saving this code in a safe and secure place, such as saving a screenshot in a password-protected folder or writing it down and locking it in a safe.

How to send crypto
Whether this is your first time transacting on the blockchain or your hundredth, here’s some helpful info.

Supported coins
You can receive coins that are tradable on Robinhood, including:

Bitcoin Cash
Bitcoin SV
Ethereum Classic

Due to no fees to purchase crypto on Robinhood (they have a very small spread), this will introduce considerable downward pressure on other centralized exchange for crypto trading fees. Certainly Coinbase and Binance has to respond by eliminating their crypto trading fees as well as withdrawal fees to zero. Currently all centralized exchanges charges a lot to withdraw tokens from their exchanges. Cyber punks like myself welcome Robinhood Crypto wallet with open arms except they need to start adding lot more Altcoins than 7 coins I mentioned earlier.

Time Stamp:
00:00 Introduction Robinhood Crypto wallet
00:39 How to Activating Robinhood crypto wallets
01:05 Verifying your identity
01:31 Adding 2-Factor Authentication
03:00 How to Send Crypto on Robinhood
04:31 How to Receive Crypto on Robinhood
07:40 Crypto Wallet Details
10:30 Advantages and Disadvantages of Robinhood Crypto Wallet


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#robinhood #cryptocurrency #blockchain #crytotrading #Bitcoin #defi #NFT #cryptowallet
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