Robinhood has launched a beta-test of its crypto wallets program. Access will first be given to those who are at the top of their waiting list. In March 2022, 10,000 more people will be able to use the digital currency wallets. The registration process for remaining spots is open in April 2022.
Robinhood announced last year that it would begin to test crypto wallets. The goal is to have a wider rollout in 2022.
Robinhood has made it possible to connect crypto-holders with the blockchain ecosystem. They’re allowing people with cryptocurrencies like Ethereum, Bitcoin, and Litecoin in their accounts on Robinhood to freely move them between external wallets without any hassle or cost imposed by third parties like banks.
Source: BTCUSD at Tradingview.com| Source: BTCUSD at Tradingview.com
They are also working on key features that will affect how these coins work in the future. If you don’t like something about it, just let them know – beta testers love feedback, so give yours today.
The beta phase of Robinhood wallet follows months of “alpha phase” for development and testing.
According to the company,
“Through our alpha program, we sought feedback from a tight-knit group of customers from our wallets waitlist.”
Robinhood allows users to trade cryptos through its platform. However, they can’t store, swap or manage any digital assets. Users can now manage their entire crypto portfolio within Robinhood by creating a crypto wallet.
Robinhood Crypto Wallet Daily Limit
You can withdraw up to $2,999 each day through ten transactions. Two-factor authentication must also be enabled.
Some people call Robinhood the “Amazon of finance” for its disruptive business model and banking-like features. Robinhood offers stock trading, cash management accounts and commission-free stock trading.
However, this app is not for everyone. Reputable regulators have scrutinized it over the past 12 months. ‘gamification‘ schemes that seemed too good possibly aren’t real.
Featured image taken from Pixabay. Chart from TradingView.com