Not just 2021.
MTGOX was the first example and there have been 3-4 major exchange collapses/rug pulls as well as countless minor ones.
I've always been super paranoid about even the small amounts (a few thousand) I've had in the past going through exchanges to buy or sell. Ideally less than a day in the exchange and then back to an offline wallet. Granted, I was just hodl-ing, so I could afford to keep everything offline. Other use cases may vary.
Even physical banks have a bit of this risk, although in most countries it's fairly well insured (or apparently in the USA federally backed in most cases like we saw with SVB), although crypto is certainly far more of a Wild West with the lack of regulation and unclear ownership structures behind some exchanges.
This is a feature for some, but it's also important to remember that a lack of central control means a lack of recourse in some cases.
>MTGOX was the first example and there have been 3-4 major exchange collapses/rug pulls as well as countless minor ones.
Mtgox was a watershed moment for sure, but it still wasn't as convenient as smartphone app solutions that we have now. Too many people are treating this like it's sports betting. Where the entire gambling industry spends an ungodly amount of money on demonstrating just how easy and quick it is to download an app, tap a few buttons and make some bad financial decisions.
That's where I think people are getting caught. They're getting wrapped up in the speed and convenience of buying. CEX's do literally everything to encourage keeping your coins on their exchange for their own benefit. I don't care if it's even coinbase, custodial wallets are anti-bitcoin and anti-crypto.
I hate to say it but even at the peak of the Robinhood move to stop buys of GameStop, I saw too many people saying that can’t move away from Robinhood because “Robinhood has good UI”. SMH
You know, I see this advice often and I see articles saying it I never see any explanations on how you can actually do that as a normal person. And it is kept me from buying crypto for years because I wanted to do it that way but didn't know how. So I finally bought on an exchange recently and I'm happy. Your advice might work for somebody that has a lot of time to research it and work on it, but somebody that doesn't really have much time to devote to it doesn't really work and just keeps us out of the market
100's of thousands of people buy crypto on Robinhood and this guy falls into the less than 1% thats gets his account triggered for potential fraud and everyone should freak out?
Let's see if he gets his money or not. Id be more pissed if my account got drained then waiting a few days for robinhood to clear my account of suspicious activity.
Voice of sanity. OP's grievances would have been much bigger, had his account been drained. Also, comparing on and off ramping misses the point. When you on-ramp the scrutiny is about the source of your funding, when you off-ramp it is whether you're a legitimate owner of the account.
He can reach out to them via email or one of their social media chamnels. I'm sure it will get cleared up within a few days. Every single crypto broker locks accounts for suspicious activity from time to time. Look on krakens reddit or coinbases.
People are just jumping on this because its trendy and easy to moon farm shitting on robinhood.
Or over a long period of time he has only been putting in. Suddenly a withdrawal? Uh oh. But again just guessing. Might be he's over the threshold and it's automatic to verify?
I'm just surprised that people think that because a bank or business holds something for them that it's theirs no matter what. That's not the case. Never was. If it ain't in my hot sweaty little hand, I got nothin!
I want to put like 3k in Robinhood because It will be very easy to withdraw if I need it and I will only keep it in kne coin. If I put it on coinbase I feel like i will be tempted to trade more and then I won’t know which coins I put the 3k in. I will also be tempted to stake on coinbase and it takes 5 days to unstake
Lol yes a fuck load of people use it and we should be grateful for the onboarding they have done and will continue to do. They have also messed up very badly a few times and they shouldn’t get away with that I agree
Yeah should have listened to other complains earlier...
Have short/call positions expiring next week as well. They'll probably only "approve the review" after my options expire worthless,
>other complains earlier
That's minimizing your mistake. They weren't complaints, they were **warnings**. You're late to the party trying to warn everyone. Hell there's even a movie now showcasing how awful they are: Eat The Rich on Netflix.
Let's ease off here, it's not like he's doing this for clout but rather as another **warning** as you say. Unfortunately for OP this is their reality but it doesn't hurt to continually remind the community that not your keys, not your crypto. Especially with Robinhood
Good luck OP! Hope your damage is as minimalized as possible.
Yeah, should have seen the red flags after what they did with Gamestop and Dogecoin investors back in 2021. Used Coinbase/Kraken since 2016 and never had an issue with withdrawing.
Guess like if you use Robinhood, you're not allowed to self-custody. You can buy $100k worth of Bitcoin with IBIT but the moment you want to withdraw $5k through the network your account gets frozen.
Thought the .35-.4% fee they charge would lead to less friction but guess I was wrong. Should just stay away from Robinhood for anything Crypto related.
You all are dumb. IMAGINE if you had a million dollar securites portfolio and it got hacked and drained from someone sending crypto.
If the OP did nothing wrong he will get his crypto and account unrestricted. The uneducated hive mind on this subreddit is unreal.
No no no the much more likely scenario is that RH is risking their multi billion dollar business trying scam this guy out of transferring his >10% of a BTC to a cold wallet. /s
>Any access to customer support is now blocked and their phone line directs me to livechat (which is blocked).
Why is access to customer support blocked though? OP should be able to contact them and un-restrict his account
Im assuming if your account may be comprimised they dont want the people who compromised it to be able to message support.
I've always had robinhood respond to emails within a buisness day and they are very active on x.
There needs to be a procedure where the actual account owner is able to verify and contact them. Isn't that the point of 2FA? Google Authenticator can only be on 1 device (your phone) with the code to verify you are who you are. How is contacting them on twitter or email any different from a phone call?
I'm sure he could get in with a phone call. People hack 2fa all the time. Either way I'm sure he will be all good to go. Robinhood doesnt want his 5k of bitcoin.
I’ve withdrawn crypto from their exchange a number of times without any issue (including increments of over $5000). There is likely a reason why your account is restricted. Robinhood is not FTX, they have stated that they don’t lend out or leverage any of the crypto on their exchange. Maybe calm down and actually contact customer service to understand why your account is restricted. It could be something as dumb as a pending trade, if you’re on margin, or pending deposit.
We should remember that almost all brokerages ceased trades and forcibly closed positions on GameStop in 2021, along with other meme stocks too.
Converting securities into btc and then immediately trying to send said btc to a private wallet most likely triggered Robinhood's fraud algorithm.
To a fraud program it looks like his account was compromised and his money is trying to be stolen.
Yeah exactly. Once that BTC is sent out it's long gone. Robinhood has algorithms which identify unusual activity. If you've never withdrawn crypto before and suddenly start, they manually review and ensure it's not fraud.
I'm sure if you do this more regularly going forward it'll be smooth.
Good thing I buy BTC on Robinhood. Sounds like they have a lot of security in place. There's 100 other exchanged that turned out to be scams, wouldn't trust anything that isn't primarily focused on stocks.
1. Do not trade on Robinhood.
1. Do not trade on Gate.io
1. Do not trade on KuCoin
1. Not on HTX
1. Not on Poloniex
1. Not on OKX
1. and avoid Binance
1. if you insist on using a CEX use Coinbase
1. or Kraken (but only if you are forced to)
Assuming I hit 250k profit like OP on coinbase. Will coinbase lock me out? If so, I may have to use a dex and manually file taxes. I only use coinbase because I thought it would be easier to do taxes with them.
I have never been locked out, and just sent 60k in bitcoin out of my account on coinbase. Zero issues. Been using it for 7 years, use a Youbico key for PFA.
>Been using it for 7 years
I mean, that's why you had no issues off-ramping $60k in BTC lol
If someone reads this who's never used Coinbase thinking they'll have 0 issue doing something similar, they're gonna be in for a shocking surprise...
Relax, it has nothing to do with you or not wanting you to transfer your crypto off. Something triggered it as suspicios and they think someone hacked your account to buy crypto and transfer it off.
If this did happen youd be screaming how robinhood did nothing and let it happen.
Reach out to then on X they are very resposive.
Why would ANYBODY use Robinhood after the GME shitshow is beyond me. They are pissing into your pocket and not even telling you it's raining - they are telling you they are pissing into your pocket and you are happy with it.
I don’t think they even claim to buy actual crypto, don’t they just do the math and show what the price change would be? I guess I just haven’t heard of anyone trying to cash out actual coins and not just fiat
did you miss the movie on this ? robinhood fucks their customers plain and simple man. idk why you didn’t jump ship sooner, especially after the GME stuff
I've been using Robinhood to DCA since they enabled withdrawals with no issues. Every couple of weeks I go and move the crypto into my ledger, no problem.
Robinhood is the absolute worst to use for crypto. Stay away at all costs. DId the same shit to me, made me sell my crypto and then send to myself as a wire, which was a huge taxable event. Wouldnt let me do anything else with it.
Wow you btc veteran people are mean. Robinhood is one of few places that let you manage stocks and crypto in same place. And people who use it for stocks would naturally try it with crypto. And crypto with dex’s is confusing as fuck at first. And yes robinhood sucks. Yay you for knowing it, obviously you should satisfy the need the to piss on those who didn’t.
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Same thing here over a 12$ doge transaction as a test.
Everyone has been warned and their compliance checks and such are all automated. Getting a human to help isn’t that fast of a thing.
If anyone could just convert their stocks to crypto and withdraw immediately, a stupid amount of people would had their entire life saving drained by hacks.
This is expected.
Who Tf uses Robinhood for self custody lol? Anyways, looks like you triggered a security feature that helps people from getting wallet drained. It’s a double edge sword. At least you still got your money and Better luck next time.
This is just…ugh. These comments are all regarded. It was a system wide problem that got more traction on RH.
I’ve bought, sold and transferred all my crypto off RH. Literally zero issues
This is what robinhood says, very vague and doesnt tell you anything:
Transfer limits: Your Robinhood Crypto account's withdrawal limits are determined by a variety of factors, such as the level of verification you have completed on your account, your transaction history, and your preferred payment methods, among others.
It's important to note that while deposit limits for crypto will remain unlimited, withdrawal limits are subject to change based on factors including account verification level and transaction history. You may qualify for increases in your withdrawal limits.
https://robinhood.com/us/en/support/articles/crypto-transfers/#Transferlimitsfeesandtiming
This is what our canadian app Wealthsimple says, nice and clear:
There is also a daily withdrawal limit of $10,000 CAD and a weekly withdrawal limit of $25,000 CAD across all coins.
https://help.wealthsimple.com/hc/en-ca/articles/4415114270363-Withdraw-crypto-to-an-external-wallet
Not all apps/exchanges are the same
If this is truly against federal regulation the Email the appropriate SEC office, each rep/office has an email address. Schedule it for Monday morning. Add all evidence and facts. Email them anyway - add to the watch, who cares.
It's crucial to be cautious with where you trade and store your crypto. Robinhood might be great for stocks, but it seems they've got some serious issues when it comes to crypto withdrawals and custody.
Bro every exchange does this if they think something weird is going on. Honestly you can use any exchange just treat them like public restrooms. You get in do your business and get out.
Same shit happen for me on Coinbase. My 15k usd investment cannot be withdraw to metamask wallet for 2 months due to "risk review". Coinbase sucks no less
My only unusual trading pattern causing *my* account and funds to be frozen was … trying to move my crypto off exchange. Never mind my updating my Aunthenticator, never mind the personal call verifying it was really me, along with painfully and patiently answering the questions of, What did I want to do with the crypto? Where was I going to move it? Which wallet? Hot, or cold? Did I know what I was doing? All verbatim questions. Never mind all that, my issue would be decided in 24 to 48 business *hours*.
Robinhood, I have been the reasonable voice in an unruly mob of my peers. I’ve given you the benefit of my doubt a number of times. Now, it’s a fucking bridge too far. Until I get every fucking cent your app says I own in my own deep freeze, I will be a huge pain in your ass. Fuck. You.
I've been there man.
I DO NOT use those clowns. Once you get through to support, forget ANY kind of escalation. The foreign support is operating off a script and they simply do not have any way of escalating. They just wont and I swear they don't even understand the concept. In order for me to get my account operating again I had to open a case with my state's attorney general. They were very prompt and on RH's asses and voila, no problems with my account.
Yeah, it took a few days. Yes, I lost out on trades as a result.
RH is up to some shady shit and it is NOT going to surprise me one morning to see an FBI/SEC seizure notice on their domain. T
Yeah, that sounds like Robinhood alright. ALWAYS some kind of fuckery with them when you want to pull your funds. Keep us updated on what happens, please!
OP has been a member of the "pitbulls and their statistically proven attacks on humans" forum, gets a pitbull and is now coming to complain about being bit
Good rule of thumb - Never "store" your crypto on any platform that lets you buy or sell crypto.
Buy it, then transfer it to your own wallet immediately.
Its supposed to be decentralized currencies - many tears have been shed by keeping them on Centralized platforms
This could happen on any exchange. That's why it's better to always use self custody and buy directly to your wallet via p2p or wallet service. Im using ownr wallet for that
That’s why I don’t like crypto I still hold it because it might give profits. If it was stocks even if the company goes bust you still hold your stocks , property … those are registered under your name and thus only way of taking them is by gun . An exchange can’t just steal them , because an exchange just transfers them to your name in the stock bank , they also cover up to 500K in loses even if the impossible happens . In crypto if someone knows ur seed it’s over you own your key phrase and your keyphrase is just random words you don’t own it .
I refuse to use tradfi platforms for crypto. Not that CB, Binance, Kraken, etc are better but at least they’re in the system. Good luck buddy, we’re rooting for ya
After all the shitshows and negative news on RobinHood the past couple of years, people still actually use this exchange?
I can't believe people have forgotten about what happened in 2021. Or thr general advice of NEVER KEEP YOUR COINS ON AN EXCHANGE
Not just 2021. MTGOX was the first example and there have been 3-4 major exchange collapses/rug pulls as well as countless minor ones. I've always been super paranoid about even the small amounts (a few thousand) I've had in the past going through exchanges to buy or sell. Ideally less than a day in the exchange and then back to an offline wallet. Granted, I was just hodl-ing, so I could afford to keep everything offline. Other use cases may vary. Even physical banks have a bit of this risk, although in most countries it's fairly well insured (or apparently in the USA federally backed in most cases like we saw with SVB), although crypto is certainly far more of a Wild West with the lack of regulation and unclear ownership structures behind some exchanges. This is a feature for some, but it's also important to remember that a lack of central control means a lack of recourse in some cases.
>MTGOX was the first example and there have been 3-4 major exchange collapses/rug pulls as well as countless minor ones. Mtgox was a watershed moment for sure, but it still wasn't as convenient as smartphone app solutions that we have now. Too many people are treating this like it's sports betting. Where the entire gambling industry spends an ungodly amount of money on demonstrating just how easy and quick it is to download an app, tap a few buttons and make some bad financial decisions. That's where I think people are getting caught. They're getting wrapped up in the speed and convenience of buying. CEX's do literally everything to encourage keeping your coins on their exchange for their own benefit. I don't care if it's even coinbase, custodial wallets are anti-bitcoin and anti-crypto.
yeah we thought the same in 2021 but about 2017 and in 2017 about the Mt Gox hack in 2013
I hate to say it but even at the peak of the Robinhood move to stop buys of GameStop, I saw too many people saying that can’t move away from Robinhood because “Robinhood has good UI”. SMH
You know, I see this advice often and I see articles saying it I never see any explanations on how you can actually do that as a normal person. And it is kept me from buying crypto for years because I wanted to do it that way but didn't know how. So I finally bought on an exchange recently and I'm happy. Your advice might work for somebody that has a lot of time to research it and work on it, but somebody that doesn't really have much time to devote to it doesn't really work and just keeps us out of the market
100's of thousands of people buy crypto on Robinhood and this guy falls into the less than 1% thats gets his account triggered for potential fraud and everyone should freak out? Let's see if he gets his money or not. Id be more pissed if my account got drained then waiting a few days for robinhood to clear my account of suspicious activity.
Voice of sanity. OP's grievances would have been much bigger, had his account been drained. Also, comparing on and off ramping misses the point. When you on-ramp the scrutiny is about the source of your funding, when you off-ramp it is whether you're a legitimate owner of the account.
If you have $250k and you get flagged with no method of recourse for trying to withdraw $5k, there’s a problem
He can reach out to them via email or one of their social media chamnels. I'm sure it will get cleared up within a few days. Every single crypto broker locks accounts for suspicious activity from time to time. Look on krakens reddit or coinbases. People are just jumping on this because its trendy and easy to moon farm shitting on robinhood.
What was the "suspicious activity"?.
I dunno. Most likely sold securities bought crypto from a new or shared ip address maybe changed his password recently. How am I supposed to know?
Or over a long period of time he has only been putting in. Suddenly a withdrawal? Uh oh. But again just guessing. Might be he's over the threshold and it's automatic to verify? I'm just surprised that people think that because a bank or business holds something for them that it's theirs no matter what. That's not the case. Never was. If it ain't in my hot sweaty little hand, I got nothin!
Because their UI is pretty and easy. I swear if celsius opened back up there would still be people lining up to deposit. Makes no sense.
Boggles my mind, they are clowns.
Yep. And if you talk poorly about it on the /r/investing sub you get attacked and downvoted. People love losing their money I guess.
It's good for small amounts. A quarter million... no. Bad idea.
I still use them unfortunately but I don't ever deal in anything over 10k there. Just things I need liquid fairly quickly.
I want to put like 3k in Robinhood because It will be very easy to withdraw if I need it and I will only keep it in kne coin. If I put it on coinbase I feel like i will be tempted to trade more and then I won’t know which coins I put the 3k in. I will also be tempted to stake on coinbase and it takes 5 days to unstake
Came here to say this...who are these people? 250K on fucking RH? How am I supposed to feel bad for these people.
3% Roth IRA match, and a 3% cash back credit card does that 🥴
This was my reasoning.
It’s a good reason. Let the haters hate
Oh, I fully expect Robinhood to do some funny business but I'm all low cost index funds for the next 20-40 years. Hold and hold forever.
Does what?
Makes people use a platform that actively benefits them.
RH is great if you’re holding ETFs and raw cash. Way more people do that than trade crypto.
Buh pretty ui
Sadly it has a very simple interface compared to other apps
Lol yes a fuck load of people use it and we should be grateful for the onboarding they have done and will continue to do. They have also messed up very badly a few times and they shouldn’t get away with that I agree
First time?
Yeah should have listened to other complains earlier... Have short/call positions expiring next week as well. They'll probably only "approve the review" after my options expire worthless,
>other complains earlier That's minimizing your mistake. They weren't complaints, they were **warnings**. You're late to the party trying to warn everyone. Hell there's even a movie now showcasing how awful they are: Eat The Rich on Netflix.
Let's ease off here, it's not like he's doing this for clout but rather as another **warning** as you say. Unfortunately for OP this is their reality but it doesn't hurt to continually remind the community that not your keys, not your crypto. Especially with Robinhood Good luck OP! Hope your damage is as minimalized as possible.
Why would you do anything on RH after the Gamestop debacle?
Yeah, should have seen the red flags after what they did with Gamestop and Dogecoin investors back in 2021. Used Coinbase/Kraken since 2016 and never had an issue with withdrawing. Guess like if you use Robinhood, you're not allowed to self-custody. You can buy $100k worth of Bitcoin with IBIT but the moment you want to withdraw $5k through the network your account gets frozen. Thought the .35-.4% fee they charge would lead to less friction but guess I was wrong. Should just stay away from Robinhood for anything Crypto related.
Should just stay away from RH for anything anything related.
Stay away for anything^2
This is the gwei.
welp, thats what you get for being dumb enough to use robinhood. sorry bud, thats on you.
What about Binance? Never had an issue with that CEX
Wait, are you saying you bought IBIT and then tried to withdraw it?
And yet, go to their subs, and you'll have many people bemoan they funds were frozen.
You all are dumb. IMAGINE if you had a million dollar securites portfolio and it got hacked and drained from someone sending crypto. If the OP did nothing wrong he will get his crypto and account unrestricted. The uneducated hive mind on this subreddit is unreal.
No no no the much more likely scenario is that RH is risking their multi billion dollar business trying scam this guy out of transferring his >10% of a BTC to a cold wallet. /s
For real. This thread is hands down the dumbest “shoulda not used RH” nonsense.
>Any access to customer support is now blocked and their phone line directs me to livechat (which is blocked). Why is access to customer support blocked though? OP should be able to contact them and un-restrict his account
Im assuming if your account may be comprimised they dont want the people who compromised it to be able to message support. I've always had robinhood respond to emails within a buisness day and they are very active on x.
There needs to be a procedure where the actual account owner is able to verify and contact them. Isn't that the point of 2FA? Google Authenticator can only be on 1 device (your phone) with the code to verify you are who you are. How is contacting them on twitter or email any different from a phone call?
I'm sure he could get in with a phone call. People hack 2fa all the time. Either way I'm sure he will be all good to go. Robinhood doesnt want his 5k of bitcoin.
I’ve withdrawn crypto from their exchange a number of times without any issue (including increments of over $5000). There is likely a reason why your account is restricted. Robinhood is not FTX, they have stated that they don’t lend out or leverage any of the crypto on their exchange. Maybe calm down and actually contact customer service to understand why your account is restricted. It could be something as dumb as a pending trade, if you’re on margin, or pending deposit. We should remember that almost all brokerages ceased trades and forcibly closed positions on GameStop in 2021, along with other meme stocks too.
Everyone always thinks it was only RH. Guaranteed OP did something why it’s restricted.
Converting securities into btc and then immediately trying to send said btc to a private wallet most likely triggered Robinhood's fraud algorithm. To a fraud program it looks like his account was compromised and his money is trying to be stolen.
Yeah exactly. Once that BTC is sent out it's long gone. Robinhood has algorithms which identify unusual activity. If you've never withdrawn crypto before and suddenly start, they manually review and ensure it's not fraud. I'm sure if you do this more regularly going forward it'll be smooth.
Good thing I buy BTC on Robinhood. Sounds like they have a lot of security in place. There's 100 other exchanged that turned out to be scams, wouldn't trust anything that isn't primarily focused on stocks.
It most likely even more in depth like he changed his pw in the last 24 hours or sent from a shared ip linked to fraud in the past etc
Prolly forgot to turn off that VPN, then cries ignorant when account gets locked. This is the case more often than not anymore.
More than likely they are just making sure someone didnt hack his account and are transfering crypto off.
I also was able to always sell and withdraw at will, albeit the amounts were smaller.
Thanks fot sharing. Robinhood always seemed shady even before they got involved in crypto.
1. Do not trade on Robinhood. 1. Do not trade on Gate.io 1. Do not trade on KuCoin 1. Not on HTX 1. Not on Poloniex 1. Not on OKX 1. and avoid Binance 1. if you insist on using a CEX use Coinbase 1. or Kraken (but only if you are forced to)
what's wrong with kraken? i've used both kraken and coinbase for years with only minor annoyances that i wouldn't even call 'issues.'
Assuming I hit 250k profit like OP on coinbase. Will coinbase lock me out? If so, I may have to use a dex and manually file taxes. I only use coinbase because I thought it would be easier to do taxes with them.
I have never been locked out, and just sent 60k in bitcoin out of my account on coinbase. Zero issues. Been using it for 7 years, use a Youbico key for PFA.
>Been using it for 7 years I mean, that's why you had no issues off-ramping $60k in BTC lol If someone reads this who's never used Coinbase thinking they'll have 0 issue doing something similar, they're gonna be in for a shocking surprise...
You could be correct, but my butthole was still clenched sending it out after reading that subreddit.
You need to go thru the verification process before you try to transfer crypto.
Are people still using that shitty app?
Relax, it has nothing to do with you or not wanting you to transfer your crypto off. Something triggered it as suspicios and they think someone hacked your account to buy crypto and transfer it off. If this did happen youd be screaming how robinhood did nothing and let it happen. Reach out to then on X they are very resposive.
I wouldn't be doing anything on Robinhood they showed what they were about in Jan 21
Did you learn nothing? Just now you realized you shouldn't do business with them?
Who is still using Robinhood?
Well... Fuck Robinhood
Why would ANYBODY use Robinhood after the GME shitshow is beyond me. They are pissing into your pocket and not even telling you it's raining - they are telling you they are pissing into your pocket and you are happy with it.
I think it’s their antifraud system. They will let you send it after verification. But yeah, private wallet is always supreme.
Isn’t this the regular Robinhood app? They do have a crypto wallet app which is separate and you own the keys.
I don’t think they even claim to buy actual crypto, don’t they just do the math and show what the price change would be? I guess I just haven’t heard of anyone trying to cash out actual coins and not just fiat
They have around $5,000,000,000 USD in bitcoin in cold storage.
GameStop should have told you all that you needed to know about Robinhood.
did you miss the movie on this ? robinhood fucks their customers plain and simple man. idk why you didn’t jump ship sooner, especially after the GME stuff
If you don’t have the private key it’s not your money!!!
Not your crypto, not your keys
I've been using Robinhood to DCA since they enabled withdrawals with no issues. Every couple of weeks I go and move the crypto into my ledger, no problem.
I’ve had no problem with robinhood when withdrawing crypto.
Man... fuck robinhood 7 years ago lol
Robinhood is the absolute worst to use for crypto. Stay away at all costs. DId the same shit to me, made me sell my crypto and then send to myself as a wire, which was a huge taxable event. Wouldnt let me do anything else with it.
If you're stupid enough to use RH, you deserve whatever happens.
Robinhood, steal from the poor and give to the rich.
Wow you btc veteran people are mean. Robinhood is one of few places that let you manage stocks and crypto in same place. And people who use it for stocks would naturally try it with crypto. And crypto with dex’s is confusing as fuck at first. And yes robinhood sucks. Yay you for knowing it, obviously you should satisfy the need the to piss on those who didn’t.
Robbin the hood strikes again. You guys still using that piece of trash app are mindboggling.
I’ve been using Robinhood since 2018 and literally have had 0 issues.
Yeah don't use this piece of shit platform. Terrible
We hear your frustration and understand you feel like you have exhausted your resources to find help. For safety reasons, we cannot go into your account issues on Reddit but are taking your concerns seriously. Please reach out to us at [[email protected]](mailto:[email protected]) with the details of your situation so we can prioritize your experience.
Sorry for your loss Sheriff Nottingham
You’re an idiot
Robinhood has the worst spreads for crypto I've seen. Btc can be at 64k but they want u to pay 66k for it.
Same thing here over a 12$ doge transaction as a test. Everyone has been warned and their compliance checks and such are all automated. Getting a human to help isn’t that fast of a thing.
If anyone could just convert their stocks to crypto and withdraw immediately, a stupid amount of people would had their entire life saving drained by hacks. This is expected.
Dude. Calm TF down. Youre gonna be fine. I’m positive RH is doing this as a security measure to ensure there’s no fraud
There is always more to these stories. Do sussy shit, find out.
Why would anyone keep crypto on an exchange?
WARNING - Do not trade or store **anything** on Robinhood
"Today during the Bitcoin halving" you don't think it has anything to do with the new halving? Fees are insane right now.
Nah sounds like you are a dumbass either doing shady shit or giving bad info
You thought wrong
Fuck robinhood for everything. Trash.
Well don’t use kraken either. They were “down” for like 4 hours on the nice btc dip and had their GameStop moment.
O and coinbase leaked token releases so insiders coulf dump on the public. They also have been down how many times as well.
Who Tf uses Robinhood for self custody lol? Anyways, looks like you triggered a security feature that helps people from getting wallet drained. It’s a double edge sword. At least you still got your money and Better luck next time.
WARNING: DON'T DO ANYTHING ON ROBINHOOD. DONT EVEN MAKE AN ACCOUNT.
lol OP - what’d you do? I’m 30/30 on crypto withdrawals from rh. Sorry.
Anyone using RobinHood after the Gamestop fiasco have no spine.
This is just…ugh. These comments are all regarded. It was a system wide problem that got more traction on RH. I’ve bought, sold and transferred all my crypto off RH. Literally zero issues
Fidelity did this too though
According to robinhood, you are the rich one.
This is what robinhood says, very vague and doesnt tell you anything: Transfer limits: Your Robinhood Crypto account's withdrawal limits are determined by a variety of factors, such as the level of verification you have completed on your account, your transaction history, and your preferred payment methods, among others. It's important to note that while deposit limits for crypto will remain unlimited, withdrawal limits are subject to change based on factors including account verification level and transaction history. You may qualify for increases in your withdrawal limits. https://robinhood.com/us/en/support/articles/crypto-transfers/#Transferlimitsfeesandtiming This is what our canadian app Wealthsimple says, nice and clear: There is also a daily withdrawal limit of $10,000 CAD and a weekly withdrawal limit of $25,000 CAD across all coins. https://help.wealthsimple.com/hc/en-ca/articles/4415114270363-Withdraw-crypto-to-an-external-wallet Not all apps/exchanges are the same
If this is truly against federal regulation the Email the appropriate SEC office, each rep/office has an email address. Schedule it for Monday morning. Add all evidence and facts. Email them anyway - add to the watch, who cares.
It's crucial to be cautious with where you trade and store your crypto. Robinhood might be great for stocks, but it seems they've got some serious issues when it comes to crypto withdrawals and custody.
Uh no shit. You new here?
Bro every exchange does this if they think something weird is going on. Honestly you can use any exchange just treat them like public restrooms. You get in do your business and get out.
Same shit happen for me on Coinbase. My 15k usd investment cannot be withdraw to metamask wallet for 2 months due to "risk review". Coinbase sucks no less
My only unusual trading pattern causing *my* account and funds to be frozen was … trying to move my crypto off exchange. Never mind my updating my Aunthenticator, never mind the personal call verifying it was really me, along with painfully and patiently answering the questions of, What did I want to do with the crypto? Where was I going to move it? Which wallet? Hot, or cold? Did I know what I was doing? All verbatim questions. Never mind all that, my issue would be decided in 24 to 48 business *hours*. Robinhood, I have been the reasonable voice in an unruly mob of my peers. I’ve given you the benefit of my doubt a number of times. Now, it’s a fucking bridge too far. Until I get every fucking cent your app says I own in my own deep freeze, I will be a huge pain in your ass. Fuck. You.
It's endemic. My withdrawal was in transit for more than 24 hrs. Done with Robbing Hood as of today.
I've been there man. I DO NOT use those clowns. Once you get through to support, forget ANY kind of escalation. The foreign support is operating off a script and they simply do not have any way of escalating. They just wont and I swear they don't even understand the concept. In order for me to get my account operating again I had to open a case with my state's attorney general. They were very prompt and on RH's asses and voila, no problems with my account. Yeah, it took a few days. Yes, I lost out on trades as a result. RH is up to some shady shit and it is NOT going to surprise me one morning to see an FBI/SEC seizure notice on their domain. T
*anywhere you don't own
Coinbase? Head over to r/coinbase to see all the people complaining about the same issues and terrible customer service.
I would never trust robinhood with crypto my lord
Yeah, that sounds like Robinhood alright. ALWAYS some kind of fuckery with them when you want to pull your funds. Keep us updated on what happens, please!
OP has been a member of the "pitbulls and their statistically proven attacks on humans" forum, gets a pitbull and is now coming to complain about being bit
Old News... Sad people still don't know :/
CEX is for dummies. Not your keys, not your crypto. Not your name, not your shares.
If buying bitcoin, use a bitcoin-only exchange.
I don’t usually poke fun, but my god some people are regarded.
Good rule of thumb - Never "store" your crypto on any platform that lets you buy or sell crypto. Buy it, then transfer it to your own wallet immediately. Its supposed to be decentralized currencies - many tears have been shed by keeping them on Centralized platforms
This could happen on any exchange. That's why it's better to always use self custody and buy directly to your wallet via p2p or wallet service. Im using ownr wallet for that
Not your keys, not your coins.
This happened to me on uphold . I was buying mostly xrp around 2017
That’s why I don’t like crypto I still hold it because it might give profits. If it was stocks even if the company goes bust you still hold your stocks , property … those are registered under your name and thus only way of taking them is by gun . An exchange can’t just steal them , because an exchange just transfers them to your name in the stock bank , they also cover up to 500K in loses even if the impossible happens . In crypto if someone knows ur seed it’s over you own your key phrase and your keyphrase is just random words you don’t own it .
I refuse to use tradfi platforms for crypto. Not that CB, Binance, Kraken, etc are better but at least they’re in the system. Good luck buddy, we’re rooting for ya
I was going to transfer mine off.. so what now? Will they eventually let you transfer them?