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Robinhood releases Crypto wallets to over two million customers

Robinhood release Crypto wallets to over two million customers
Robinhood release Crypto wallets to over two million customers

Trading app Robinhood is rolling out its new crypto wallets to more than 2 million customers and will integrate with the Lightning Network “to bring even lower costs to our customers.”

More than 2 million people can now use Robinhood Crypto wallets to buy, sell, and trade cryptocurrencies

Robinhood announced at the Miami Bitcoin conference that it is launching crypto wallets to over 2 million customers now. Aparna Chennapragada, chief product officer at Robinhood, said “We’re not quite rolling out to everyone but you can access it”.

We’ve rolled out crypto wallets to every eligible person on the Wenwallets waitlist of more than two million people.

“We’ve listened and we’ve seen a demand ever since. So, all customers who signed up for the waitlist will receive their cards to send and receive the cryptocurrencies currently available on Robinhood,” said Robinhood’s executive. The company had already begun rolling out cards to selected customers.

Chennapragada said that the current regulations for cryptocurrency are “challenging,”, especially in New York, Hawaii, and Nevada, but their team is actively looking into ways of creating a functional wallet. Once this becomes available to customers, we’ll post an update on the website.

Vlad Tenev, the CEO and co-founder of Robinhood, has also said:

Our goal is to make Robinhood the most trusted and easiest to use crypto platform. We’re excited to bring even lower costs to our customers by integrating with the Lightning network.

The trading platform currently supports buying and selling, as well as real-time market data for Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ethereum(ETH) & Ethereum Classic (ETC). Litecoin(LTC) is also supported. Shiba supporters have been urging Robinhood to list SHIB. But the company has said it is not in a hurry to do so.

Robinhood also notes:

Unlike some other crypto platforms, there is no fee to withdraw crypto from Robinhood.

Also Read: 10 cryptocurrencies that have a better potential than Bitcoin

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Any references on this website or blog are an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.

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