Key Takeaways
- Robinhood enables Bitcoin transfers to external wallets in Europe.
- The feature supports around 20 cryptocurrencies, including Bitcoin.
- Robinhood users in Europe must verify their identity to use the service.
Robinhood has expanded its cryptocurrency services in Europe, allowing users to deposit and withdraw Bitcoin and other cryptocurrencies via external wallets and platforms such as Binance. The feature, launched on October 1, 2024, gives European users the ability to transfer approximately 20 different cryptocurrencies in and out of their Robinhood accounts.
Since its launch of crypto trading in Europe in late 2023, Robinhood had only allowed customers to buy and sell cryptocurrencies directly on its platform. The new feature enhances the platform’s functionality, enabling users to store or trade their assets outside of Robinhood.
According to Johann Kerbrat, Robinhood Crypto’s vice president, the move is designed to provide more control over assets and to make it easier for users to access decentralized finance (DeFi).
Kerbrat said:
Support for deposits and withdrawals gives customers more control over their crypto, while ensuring they have the same safe, low-cost, and reliable experience they expect from Robinhood.
To use the transfer service, users must complete identity verification and enable two-factor authentication. Robinhood Europe, operating through its Lithuanian subsidiary RHEC, is responsible for offering these services, complying with Lithuanian regulations for virtual currency exchanges.
