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Robinhood Working on Enabling Cardano (ADA) Transfers

Fri, 09/09/2022 - 18:20
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Alex Dovbnya
Robinhood says that it is working on enabling transfers for Cardano (ADA) cryptocurrency after launching feature for other available coins
Robinhood Working on Enabling Cardano (ADA) Transfers
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Leading brokerage firm Robinhood says that it is working on enabling transfers for Cardano (ADA).

As reported by U.Today, Robinhood listed the ADA token on Sept. 1.

Prior to that, the zero-fee brokerage service also added support for Solana (SOL), Compound (COMP), Polygon (POL) and several other cryptocurrencies.

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Robinhood launched Bitcoin transfers for all users in early July after originally starting testing the feature last September. Users are able to move their coins in and out of the platform.

The company does not charge an additional commission for transferring crypto out of its platform. However, users are still required to pay network fees.

Robinhood users are required to go through the process of identity verification by providing a photo of a government-issued ID or a driver's license in order to be able to move their coins.

The company has set a $5,000 daily cap on outbound transfers.

As of now, Robinhood allows receiving all of the coins that are currently available on the platform (save for the recently listed ADA token).

As reported by U.Today, the trading platform started offering deposits and withdrawals for the MATIC token on the Polygon network, thus substantially lowering fees.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at