If you were frustrated by the recent Robinhood outage or stock halts that lasted multiple hours, you might be considering how you can move your stock off of the brokerage to another. Good news for you: You can do that if you want! Bad news: Robinhood charges a fee.
Robinhood is a beautiful app (and website) that has helped many make their first investments. Their app makes it incredibly easy to go from having no experience in exchanges to making your first trade. But should you day trade crypto, and if so, should you do it on Robinhood?
One of the main appeals to owning crypto assets is that you can store it in an offline wallet, with no intermediary needed. Unfortunately, Robinhood makes this process impossible because they sell the ability to invest in crypto but not the actual tokens. This means that in order to securely store crypto in a wallet, you will have to sell your position on Robinhood and repurchase it at a physically delivered crypto exchange.