Robinhood, the trading platform, is offering a program that allows users to give cryptocurrency gifts, such as bitcoin, dogecoin and bitcoin cash. Users can give gifts, which are also free from commissions. As little as $1 for cryptocurrency
Robinhood’s Crypto Gifts Program
Robinhood announced Thursday the upcoming launch of Robinhood Crypto’s “Cryptocurrency Gifts Program.”
Users can gift as little as $1 in cryptocurrency, Robinhood’s website details, noting that it can take 3-5 days for the fund to settle. “As with crypto trading, gifts are commission free,” Robinhood clarified, adding:
Once you’ve customized your unique gift, you can send it directly to your special someone via a special link that’ll go straight to their phone.
On Dec. 22, the crypto gift program will be launched. However, crypto gifts are not available in Nevada or Hawaii, Robinhood’s website notes.
“Once the Sender selects and confirms the requested amount and the cryptocurrency, the sender is solely responsible for sharing a link to the gift, and the recipient can use this shared link to accept the gift,” Robinhood’s crypto gifts terms & conditions detail. It also added:
Make sure the recipient has Robinhood crypto to receive your gift. For gifts not accepted, no sweat; you won’t be charged, and you’ll still get bragging rights that you gave out crypto for the holidays.
Robinhood Crypto supports the buying and selling of bitcoin, bitcoin cash, bitcoin sv, bitcoin SV (BSV), dogecoin, ethereum, ethereum classical (ETC), and now litecoins (LTC).
Robinhood has been petitioned by supporters of the meme currency shiba, in order to list it. Robinhood stated previously that it was not in a hurry to list any other cryptocurrency.
Robinhood’s third-quarter transaction-based revenue totaled $267 million, with $51 million coming from cryptocurrency trading. Forty percent of Robinhood’s cryptocurrency-transaction-based revenue in the three months ending Sept. 30, was also attributable transactions in Dogecoin.
Earlier this week, Chainalysis announced that it has partnered with Robinhood to boost the trading platform’s compliance ahead of its crypto wallet launch.
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