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Robinhood to Roll Out Crypto Wallets Beta in January 2022

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Wed, 12/29/2021 - 15:19
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Yuri Molchan
Popular Robinhood trading app says they will launch a beta of their crypto wallets in just a few weeks
Robinhood to Roll Out Crypto Wallets Beta in January 2022
Cover image via stock.adobe.com

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Robinhood has finally announced the approximate date for rolling out the beta test version of their cryptocurrency wallets – something that the SHIB community has been looking forward to since late September, hoping that the app will list this meme crypto.

According to the Sept. 22 announcement, these wallets would allow trading, as well as sending and receiving crypto on the app.

Meanwhile, over 1.6 million people have signed up on the waitlist for these wallets already. Less than one million people signed up in one month.

Beta trials to commence in mid-January

As alpha tests are over now, the beta version of the wallets will be launched in just a few weeks – in the middle of January next year. According to a survey that Robinhood conducted among its users, customers who tested the alpha version, they would like Robinhood to provide educational content on crypto so they can understand terms like "transaction ID" and "network fees."

So, for this educational purpose, the app will expand its Robinhood Learn articles to cover crypto in addition to regular asset classes.

Extra security for wallets

The blog post by Robinhood states that there will be a separate wallet for every cryptocurrency traded on the app. The survey said that 66% of users do not have any crypto wallet at all, and they expect to have a single wallet for all their crypto transactions. But since all transfers will be done on-chain, each coin will be given a separate address.

Robinhood also shared that it will add some extra security features for crypto wallets, including a multi-factor authentication feature.

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Will Robinhood list SHIB after all?

The Shiba Inu community has been yearning for Robinhood to add SHIB to its list of traded assets. The Change.org petition for that issue has gained 553,472 signatures already.

The SHIB army on Twitter tweets every day about the listing request to Robinhood, as they believe that when the app adds the token, its price will soar toward a new historic peak.

Meanwhile, Robinhood began to test wallets for Shiba Inu rival Dogecoin.

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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.