Is it possible to transfer shares from Robinhood to Fidelity using Bitcoin or other cryptocurrencies?

3 answers

• Jan 07, 2022 · 3 years ago
  Unfortunately, it is currently not possible to directly transfer shares from Robinhood to Fidelity using Bitcoin or other cryptocurrencies. The transfer of shares typically involves a process known as Automated Customer Account Transfer Service (ACATS), which is a system used by brokerage firms to facilitate the transfer of assets. ACATS does not support the transfer of shares using cryptocurrencies. However, there are alternative methods available to transfer your shares between brokerage accounts, such as selling your shares on Robinhood and then using the proceeds to purchase shares on Fidelity.
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• Jan 07, 2022 · 3 years ago
  No, you cannot transfer shares from Robinhood to Fidelity using Bitcoin or other cryptocurrencies. The transfer of shares between brokerage accounts is typically done through traditional methods, such as wire transfers or electronic transfers. While cryptocurrencies offer fast and secure transactions, they are not currently integrated into the systems used by brokerage firms for share transfers. If you wish to transfer your shares from Robinhood to Fidelity, you will need to follow the standard transfer process provided by the brokerage firms.
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• Jan 07, 2022 · 3 years ago
  As an expert at BYDFi, I can confirm that transferring shares from Robinhood to Fidelity using Bitcoin or other cryptocurrencies is not supported. While cryptocurrencies have gained popularity in recent years, they are not yet widely accepted as a means of transferring shares between brokerage accounts. The most common method for transferring shares is through ACATS, which does not currently support cryptocurrency transfers. However, you can explore other options, such as selling your shares on Robinhood and then using the proceeds to purchase shares on Fidelity.
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