Robinhood To Roll Out Crypto Wallets To 1,000 Users In Phase One
January 24 2022 - 11:00AM
NEWSBTC
Robinhood is conducting a beta test of its new crypto wallets
program. The 1,000 people at the top of their waitlist will receive
access first. Then again, in March 2022, this will expand 10,000
individuals able to use these digital currency wallets at any given
time before opening up registration for all remaining spots
available. Last year, Robinhood planned to begin testing crypto
wallets, with one goal being a broader rollout by 2022. Robinhood
is connecting crypto holders with the blockchain ecosystem for the
first time. They’re allowing people with cryptocurrencies like
Ethereum, Bitcoin, and Litecoin in their accounts on Robinhood to
freely move them between external wallets without any hassle or
cost imposed by third parties like banks. Bitcoin is below $37K
first time ever in 4 months | Source: BTCUSD at Tradingview.com In
addition, they are also testing out some key features which will
shape how we use these coins in general. If you don’t like
something about it, just let them know – beta testers love
feedback, so give yours today. The beta phase of Robinhood wallet
follows months of “alpha phase” for development and testing. The
company said, “Through our alpha program, we sought feedback from a
tight-knit group of customers from our wallets waitlist.” Users on
Robinhood can trade cryptocurrencies through the platform, but they
cannot store, swap, or manage digital assets. A crypto wallet will
now allow users to manage all their crypto holdings within the
application. Robinhood Crypto Wallet Daily Limit Users can withdraw
$2,999 per day in ten transactions. They also need to enable
two-factor authentication. Some people call Robinhood the “Amazon
of finance” for its disruptive business model and banking-like
features. For example, the company offers commission-free stock
trading and cash management accounts. However, not everyone is
excited about this new app on their device because several
regulators scrutinized them over the past year regarding
‘gamification‘ schemes that seemed too good possibly aren’t real.
Featured image from Pixabay, chart from TradingView.com
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