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Robinhood Clients to Start Testing Crypto Wallets Next Month

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Wed, 09/22/2021 - 13:35
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Yuri Molchan
Robinhood trading app is preparing to let first clients test crypto wallets on their platform
Robinhood Clients to Start Testing Crypto Wallets Next Month
Cover image via stock.adobe.com

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In its blog post, Robinhood has just shared that, as of next month, the first customers will be able to trial crypto wallets on this trading app.

Starting crypto wallets trial soon

The feedback left by these first testers will be shared on Robinhood's blog and Twitter page on a regular basis for everyone to access and gain an understanding of what the company is offering them.

Gradually, more clients will be getting access to these wallets via the waitlist.

The wallets will enable customers to deposit and withdraw their crypto assets seamlessly, as well as to keep trading them on the Robinhood app without commission fees.

They promise that the new wallets will have such security features embedded as verification of identity, multi-factor authentication, and verification via email and phone.

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Robinhood teased crypto wallets in summer 2021

The crypto wallet feature was initially teased in July by company chief Vlad Tenev. Back then, during a webcast, he stated that the company had been doing a lot of work to live up to its customers' expectations and wishes and provide them with app-based cryptocurrency wallets.

So far, the app's users are unable to move cryptocurrencies outside the app. But this is going to change once wallets are launched. But the CEO emphasized that he wants to implement the new feature safely for users and their assets.

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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.