The cryptocurrency trading app Robinhood is coming out with a new cryptocurrency wallet soon. The beta version of the wallet will be released in January 2022, but it will not be available to the general public until 2022. A spokesperson for the company said the release date will be decided after further testing. Users can register to be part of the beta testing program. The company previously announced plans to launch a digital wallet service in August, but it has since pulled the plan due to security concerns.
The company is already testing the wallets with an alpha group, and it has a waiting list of more than 1.6 million people. The wallet will allow users to buy and sell Bitcoin, Dogecoin, Ether, and Ethereum, but it does not currently support Ethereum Classic. Although the company is not revealing exactly which cryptocurrencies it will support, it has indicated that it is planning to use Chainalysis’s software solutions for its cryptocurrency wallet. It will also train the company’s team on the software.
Robinhood has promised a crypto wallet for users. The CEO has stated that the company wanted to make security “bulletproof” for its customers. According to his comments, the wallet will have identity verification and multifactor authentication, including a picture of ID or a selfie. The company is also testing email and phone verification to ensure they are not stealing the user’s funds. While this may seem like a significant step, it would certainly help the company’s business to make the wallet available to all customers.
The new Robinhood crypto wallet is a beta version of the product and is available to 1,000 people on the company’s waitlist. The test will extend to 10,000 customers by March, with a limit of $2,999 per day per user. The beta testers must also enable two-factor authentication to be able to withdraw their funds. The beta testers will help the company evaluate the features and functions of the wallet.
As the beta testers are chosen randomly from a 1.6 million-strong waitlist, the company is now working on the final version of the wallet. While the beta testers will have limited access to the wallet, they will have access to the wallets in early 2022. If there is a demand, the beta will be available to the public in early 2020. It will be released to the general public at that time.
Robinhood is now rolling out its crypto wallets to a thousand beta testers. The wallets are a new feature that allows users to buy and sell cryptocurrencies via their brokerage accounts. The crypto wallet will be available in October, and will be available to all accounts by early 2022. It will also allow people to set up recurring cryptocurrency purchases. This wallet will help you manage your digital assets more efficiently.