Robinhood’s crypto wallets will roll out next month. It will be a test phase for the initial customers. However, more and more people can join later on.
Customers interesting in using the crypto wallets as early adopters can join the waitlist on the Robinhood platform today.
Robinhood’s crypto wallets will allow users to send the digital assets to other wallet addresses and also use receive the currencies in their wallet within minutes. Without a wallet, customers couldn’t use the bitcoin they purchased on the Robinhood app.
The wallet will support only a few crypto coins which the platform itself supports. Nevertheless, the limitation is for the initial stage. The company is toying with the idea of making a wide array of currencies available on the platform. At the moment, you can only send or receive Bitcoin, Ethereum, and Dogecoin.
Robinhood’s Crypto wallets are made to be secured with features like identity verification, multifactor authentication, and email and phone verification. These steps will prevent hacks or other threats.
Robinhood has been in crypto pace for three years now. The company takes pride in facilitating digital currencies for all on its commission-free platform. During the first quarter of 2021, 9.5 million users traded crypto on Robinhood.
When we launched Robinhood Crypto three years ago, we expanded investment access to more and more of our customers. The world of Crypto may seem mysterious, complicated and unwelcoming, but it was born out of a mission to return power to the people, which aligns perfectly with our mission to democratize finance for all.
In line with its mission, Robinhood launched the project of crypto recurring investments. This allowed customers to buy their favorite currencies, commission-free with just $1.