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Is it possible to close your Robinhood account and directly transfer your digital assets to a hardware wallet for added security?

avatarSneha Sagar DubyalaDec 26, 2021 · 3 years ago1 answers

I'm considering closing my Robinhood account and want to know if it's possible to transfer my digital assets directly to a hardware wallet for added security. Can I avoid using an intermediary exchange and have full control over my assets? What steps do I need to take to ensure a smooth transfer?

Is it possible to close your Robinhood account and directly transfer your digital assets to a hardware wallet for added security?

1 answers

  • avatarDec 26, 2021 · 3 years ago
    Yes, it is possible to close your Robinhood account and directly transfer your digital assets to a hardware wallet for added security. This way, you can have full control over your assets and eliminate the need for an intermediary exchange. To transfer your assets, follow these steps: 1. Choose a hardware wallet: Select a hardware wallet that supports the cryptocurrencies you hold. Popular options include Ledger, Trezor, and KeepKey. 2. Set up your hardware wallet: Follow the instructions provided by the hardware wallet manufacturer to set up your device and create a wallet. 3. Generate a receiving address: Once your hardware wallet is set up, generate a receiving address for the specific cryptocurrency you want to transfer. 4. Withdraw your assets from Robinhood: Log in to your Robinhood account, navigate to the withdrawal section, and enter the receiving address generated by your hardware wallet. Follow the prompts to complete the withdrawal. 5. Verify the transfer: Check your hardware wallet to ensure that the transfer has been successfully completed. You can also use a blockchain explorer to track the transaction. By following these steps, you can securely transfer your digital assets from Robinhood to a hardware wallet and have complete control over your holdings.