Really bad beginner mistake with bitcoin. Plz HELP

[Zionatin]

I highly suggest before you get into anything in life that you research it. Especially finance. You should understand how bitcoin works before even thinking of buying any.

I'm not sure if Robinhood allows users to withdraw cryptocurrencies from their accounts, but you can do it the classic way. Sell all your holdings on Robinhood, transfer them to your bank account, then to an exchange, buy Bitcoin and then transfer them back to your personal wallet - preferably a cold one if you plan to hodl for long-term.

This is the right answer OP. But to what wallet you should use its all depend on you, can buy ledger wallet or use desktop wallet or mobile wallet depends on what you preferred to use that you can own the keys. But first sell all your bitcoin in robin hood and convert it to fiat then  buy from reputable crypto exchange that you can use in your  country .

Yep, the best way to go through it sounds criminal to me. Withdrawing fiat from a crypto exchange is just weird. Sounds very scammy to me. Why would a legit business do this? They wouldn't...
Yes, use local bitcoin traders only. The one I use is not some faceless scam like Binance and such. The owner is actually known and has an actual name and identity. Which means if something goes wrong something can be done, unlike these overseas shithole exchanges.

[beamin]

Do you still remember your account details in Robinhood? Those funds are important, you should still able to login in your account.
I agree with figmentofmyass, that even you may not able to withdraw a real Bitcoin there atleast if you liquidate your account to fiat, you will still able to receive some profits and you can use those to buy actual Bitcoin.
Alternative wallet for your Bitcoin is a hardware wallet, go try to explore some, just like Trezor and Ledger hardware wallets.

I think the easiest thing for a beginner to use is coinbase and a trezor to keep coins on. Coinbase is easy to change to coins fiat and your bank account. You also get a coinbase pro account where you have access to a real exchange where you can do things like limit and stop orders plus you get to buy many different alts there seamlessly.

[GreatArkansas]

(....)

I think the easiest thing for a beginner to use is coinbase and a trezor to keep coins on. Coinbase is easy to change to coins fiat and your bank account. You also get a coinbase pro account where you have access to a real exchange where you can do things like limit and stop orders plus you get to buy many different alts there seamlessly.

I understand you about being a beginner.
But the problem of OP here are "not your keys, not your coins", he got a problem about ownership of his/her Bitcoin since the Bitcoin he owned is on centralized exchange and it clearly shows that you really don't own your Bitcoin there and centralized entity may steal your Bitcoin.
About Coinbase, I believe that it is still a centralized exchange.
But you can use Coinbase to buy Bitcoin and transfer your Bitcoin on non custodian Bitcoin wallet so you have the full control on your funds.

[Lorence.xD]

there is no guarantee they'll ever allow crypto withdrawals. it's been almost 3 years already---i wouldn't count on it.

if you want your keys, you need to liquidate your positions on robinhood, withdraw the fiat to your bank account, then use it to buy real bitcoins on an exchange (kraken, coinbase, etc) or p2p marketplace (localbitcoins, localcryptos). then withdraw the coins to a wallet you control.

I did not even know that Robinhood has Bitcoin available on their services, AFAIK they are a good app for stock exchanges. OP should follow what the quote above says because only one attack is what it takes to lose all your coins in that account.

[thirdprize]

https://robinhood.com/us/en/support/articles/withdraw-money-from-robinhood/

[Yatsan]

It may really cause panic if you do not really understand what you are really up to and it seems like you and your friend are on the same current situation if you both are thinking to be purchasing real deal Bitcoin with the use of Robinhood. Since you haven't mention that you are having trouble with your account, it is more likely that you still have full access on it so what you must just do is to withdraw your funds into fiat and do a bank transfer to access those funds and find for another exchange where you can real deal buy Bitcoin since it is your real aim at the first place and have yourself a storage for the Bitcoin you will buy to keep it secure and safe all the way. Also, this may serve as a lesson for everyone to first allow yourself to get familiarize with the app or site you are signing it and better know their features if they would make you do withdrawals so you will not have the same issue with the OP before conducting purchases not to get yourself into the trouble of panic.

[Amon1231]

A typical mistake of a beginner when it comes to bitcoin is about trading when to sell your bitcoin when to buy a bitcoin and how to make your bitcoin wallet safe and theftproof.

[johnnathanexo]

I think you should contact Robinhood Support team. They can give you the best solution about your query. But Robinhood does not offer phone support or live chat, a major bummer considering the average age of the traders on its platform. Robinhood's customer support is done almost exclusively through a form email on its website or by emailing support[at the rate]robinhood[dot]com. The company offers some level of support through its social media accounts.

[jademaxxiss012]

Man, Just hold it there for now since the price was very volatile. Wait some time until the price become stable and liquidate your Bitcoin and use the fiat to buy on other exchange just like what other said. If your purpose of using Bitcoin was for money transfer then go to DEX but if your purpose was for trading then custodial exchange like robinhood was good for you.

Recommending DEX would be good but it would be better to name few good DEX that could help a lot to everyone wishes to get a DEX. There are some DEX nowadays that are just for scam or is a phishing site in which you cqn transfer your keys into their platform but sadly a user just discloses his wallet in the platform without him knowing. This is why there are some allegations here from some user from their funds being stolen.

[maydna]

A typical mistake of a beginner when it comes to bitcoin is about trading when to sell your bitcoin when to buy a bitcoin and how to make your bitcoin wallet safe and theftproof.

Usually, they will try to earn more satoshi in many ways, but they don't think about storing their bitcoin in other wallets to control their own funds. Many people who new to bitcoin also do not care about their funds and storing their bitcoin at the exchange for some time, and when the exchange got a problem, they are panic because their funds are at their site. We need to know how to store our bitcoin in a safety wallet so we don't be panic when the site is got hacked.

[Kong Hey Pakboy]

I first got into bitcoin back in May. A friend helped me set up a Robinhood account and all this time have been buying bitcoin through there. Thanks to twitter I recently found out that I don't actually own my bitcoin keys and this whole time I thought I did. Now I'm panicking. How do I take ownership of them? It says on the Robinhood website they are thinking about  giving people their own keys but who knows when that'll actually happen if at all. What should I do?

From my point of view, try taking out all of your funds in your Robinhood account because it is centralized; that is why you do not own your private keys. After taking out your funds, you should find a trusted decentralized wallet that provides private keys like Trustwallet, Coinbase, Blockchain, etc. You could also use a hardware wallet like Trezor and Ledger, which is much safer and secure to store all of your bitcoins.

[beamin]

(....)

I think the easiest thing for a beginner to use is coinbase and a trezor to keep coins on. Coinbase is easy to change to coins fiat and your bank account. You also get a coinbase pro account where you have access to a real exchange where you can do things like limit and stop orders plus you get to buy many different alts there seamlessly.

I understand you about being a beginner.
But the problem of OP here are "not your keys, not your coins", he got a problem about ownership of his/her Bitcoin since the Bitcoin he owned is on centralized exchange and it clearly shows that you really don't own your Bitcoin there and centralized entity may steal your Bitcoin.
About Coinbase, I believe that it is still a centralized exchange.
But you can use Coinbase to buy Bitcoin and transfer your Bitcoin on non custodian Bitcoin wallet so you have the full control on your funds.

Im not a gambler more of a math person, I like coin base because I can quickly sell my coins on my phone if the price does some crazy 10k/day dip. For the long term I  keep the BTC on the trezor because its about 99% safe from losing them with hardware and a seed incase the hardware fails/lost.

[LogitechMouse]

I have read some replies here and it looks like Robinhood doesn't allow users to withdraw cryptocurrencies.
Well, exchanging your Bitcoin into fiat is the best way for you to get out into it.

Having mistakes as a beginner is inevitable and all of us started from being a beginner. What's important is you are learning from your mistakes . Now you know what you will do, do it and make another move. Find another exchange to trade with or if you want to hold some Bitcoins then use a hardware wallet.