WARNING – Do not trade or store crypto on Robinhood

Today during the Bitcoin halving, I converted some balance to Crypto and tried withdrawing withdrawing ($5,000) to my own Ledger self-custody address.

I've had over quarter million in Bitcoin stocks/ETFs, but the moment my account tries actually withdrawing some Crypto, all my funds get frozen and my short-term options are stuck.

Even after 2FA, my account was frozen. Thought the Crypto Wallet provided on Robinhood was owned by me, but apparently not.

https://preview.redd.it/de1opoaxmkvc1.png?width=1120&format=png&auto=webp&s=74b44c02d84eb4ae1ab97ad72807b1369a373a5d

Any access to customer support is now blocked and their phone line directs me to livechat (which is blocked).

https://preview.redd.it/nai1bzl1mkvc1.png?width=1120&format=png&auto=webp&s=241d60479dfb82b03626ca993a7897c55b102066

Good reminder to use Coinbase, Kraken, or any other exchange, just not Robinhood. You can buy Crypto for months on end from ETFs/stocks, but the moment you try to withdraw, they freeze your account.

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9 thoughts on “WARNING – Do not trade or store crypto on Robinhood”

  1. This is a friendly reminder that Kraken Support will never DM you first, ask for your username or password, or ask you to transfer funds. Kraken has its own subreddits, r/KrakenSupport and r/Kraken, and their Support Center.

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  3. Thanks fot sharing. Robinhood always seemed shady even before they got involved in crypto.

  6. After all the shitshows and negative news on RobinHood the past couple of years, people still actually use this exchange?

  7. “Today during the Bitcoin halving” you don’t think it has anything to do with the new halving? Fees are insane right now.

  9. Robinhood has the worst spreads for crypto I’ve seen. Btc can be at 64k but they want u to pay 66k for it.

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