Robinhood platform launched beta version of its digital wallet

The new application “will connect Robinhood crypto holders to the greater blockchain ecosystem for the very first time”

21.01.2022 - 08:35

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The new application “will connect Robinhood crypto holders to the greater blockchain ecosystem for the very first time.”

What’s new? Robinhood has announced on its website the launch of a beta version of its cryptocurrency wallet. There are now 1000 people participating in the testing program, with plans to increase that number to 10 000 by March.

Robinhood’s announcement

How does the new wallet work? Robinhood has not previously provided full access to the blockchain ecosystem. In other words, the platform held all users’ digital assets on its own behalf, providing customers with information on price dynamics.

The company said that the new wallet “will connect Robinhood crypto holders to the greater blockchain ecosystem for the very first time.” With the new feature, the users will be able to transfer their assets to other wallets. However, there are restrictions on the beta testing time with 10 withdrawals totaling no more than $2999.

“Connecting millions of Robinhood customers to the blockchain ecosystem in a safe, accessible setting is a massive undertaking. We take this responsibility seriously, which is why we are rolling out wallets methodically, consistent with our “Safety First” value.”

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