Robinhood, a trading platform has launched its beta version of cryptocurrency wallets. It is scheduled to launch in mid-January. According to the company, 1.6 million users have already signed up for its crypto wallets.
Robinhood’s Crypto Wallets to Launch in Beta This Month
Robinhood today announced that its beta launch for the highly-anticipated cryptocurrency wallets will be happening. Robinhood unveiled their crypto wallet project in September. This will allow customers to send, trade and receive cryptocurrencies via the Robinhood app.
The announcement details the fact that over 1.6 million people signed up so far for its cryptocurrency wallets:
We will be launching the beta phase of wallets in mid-January. This will allow thousands to join the waiting list.
Robinhood also revealed that during the wallet’s alpha launch, which recently wrapped up, “a tight-knit group” of customers from the waitlist tested the company’s first crypto wallet iteration “and shared detailed design and functionality feedback.”
For example, the alpha testers “requested signposting and explanations of terms like ‘network fees’ and ‘transaction ID.’” In response, the company said that it will provide more crypto articles and offer 24/7 phone support.
Robinhood was added
There will be additional security features available for crypto transactions. These include multi-factor authentication in-app, so we know it’s you when you initiate a transfer, and transaction checks to better understand the risk of where coins are being sent.
“While some say 2021 is the year that crypto went mainstream, the truth is that most people are still familiarizing themselves with the asset class and how to navigate the blockchain,” the trading platform noted.
In December, Robinhood partnered with Chainalysis to leverage the blockchain data analytics firm’s “data and tools to meet compliance requirements and provide Robinhood customers with the confidence they need to trade cryptocurrency safely,” Chainalysis described.
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