Robinhood has announced that it is adding a cryptocurrency wallet to its platform. The new wallet is non-custodial, supports multiple blockchains, and offers a daily limit of $2,999. The service is currently free to use, but you must sign up for it. Here are the benefits:
Robinhood’s new cryptocurrency wallet is non-custodial
The new non-custodial cryptocurrency wallet is something of a surprise. It was previously only available for registered customers of Robinhood. This is a sign of the company’s growing cryptocurrency arm, which has been actively growing since the end of Q1. Recently, the company announced the addition of four new cryptocurrencies to its list, including Bitcoin, Litecoin, and Ethereum. The new wallet will let users trade and store NFTs while earning interest on those assets.
It has no network fees
Robinhood, the decentralized exchange for cryptocurrencies, is launching a new non-custodial cryptocurrency wallet. The new wallet will allow investors to trade cryptocurrency without network fees while earning yields on their assets. The new wallet will provide users with a similar experience to its existing mobile app, but will also allow investors to access decentralized apps and marketplaces. The company hopes to release the non-custodial wallet to all users by the end of 2022.
It supports multiple blockchains
The latest version of Robinhood’s crypto wallet is now available as a beta to a limited number of users. With this upgrade, users can now send and receive digital assets from off-platform with the help of the Robinhood app. The company plans to expand the beta to at least 10,000 customers by the end of March, and ultimately a million users by the end of the year. The beta testers will be essential in assessing the app’s core functionality and providing critical feedback on its new features.
It has a daily limit of $2,999
The beta version of Robinhood’s crypto wallet is now available to 1,000 people on a waiting list. The company plans to expand its service to 10,000 people by March, but has not yet announced an exact release date. The beta wallet will allow users to move between Robinhood and other crypto wallets. The daily limit is $2,999, and the service will allow up to 10 transactions per day.
It can scan QR codes to send crypto
The Robinhood crypto wallet offers two features that are vital for cryptocurrencies: QR code scanning and two-factor authentication. It also offers a variety of social media features, such as the ability to tip users on Facebook with crypto and scan QR codes to send crypto. The Robinhood wallet will soon be available in a number of countries. In pre-market trading, the stock was down about 5%. Goldman Sachs has downgraded the company.