Robinhood, a trading app has revealed a new feature which allows users to send cryptocurrencies to friends and families. The holiday season is well underway and many people are trying to find the best gifts for family and friends. The Robinhood app now has a new feature that allows for seamless crypto transfer from one user into the next.
It’s easy to gift crypto coins
Robinhood shared via blog post Thursday the new features it had added to its platform. This gifting feature allows users to send crypto directly through the app to their family members and friends. It was designed to encourage holiday shoppers to forgo the hassle of shopping last minute and buying gifts that will not be appreciated after the holidays.
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Robinhood, which has 22 million US users, is one of America’s most popular trading apps. Millenials make up a significant segment of the population and are more likely than others to share crypto with their family members.
You can select from seven different cryptocurrencies to give to your family or friends, and you can then email the gift directly to them through the app. Users can also send their gift with a personalized message and design to enhance its meaning.
Robinhood: How to Gift
Inside the Robinhood app, users can click the “Gift” button and then choose from a list of seven cryptocurrencies that they want to gift. There are Bitcoin (BTC), Ethereum(ETH) and Dogecoin (Doge), which is a favorite of investors. Next, choose the preferred delivery method. The recipient can choose to receive the gift by email or text. A link will be provided for redemption.
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The recipient of a crypto gift will be given 14 days from the date it was sent to them. They can redeem the gift within Robinhood if they’re already Robinhood users. To claim their gift, the recipient will have to register to Robinhood. The recipient must redeem the gift within 14 days. If the receiver does not redeem, the cryptocurrency will be sent back at no charge to them.
Robinhood customers can send $1 to any recipient they choose and receive 0% commission.
Featured Image from 9to5Mac. Chart by TradingView.com