Robinhood launches cryptocurrency wallet for 1 million users

Financial providers firm providing cryptocurrency buying and selling Robinhood introduced its digital asset self-funding wallet final Thursday (19). (*1*) to the announcement, Robinhood Wallet has an utility for iOS smartphones (Apple’s cell working system) that enables users to switch and look at their cryptocurrencies and NFTs.

Currently, the crypto wallet helps each Polygon and Ethereum – each when it comes to tokens and NFTs. But the thought is to extend the variety of blockchains in a short while. In addition, Android help can also be anticipated to hit the market later this 12 months. The app in query was launched in beta for solely 10,000 prospects on a ready checklist in September final 12 months. By definition, Robinhood Wallet involves rival wallets like MetaMask, Phantom and Coinbase Wallet, for instance.

Broker launches on-line cryptocurrency wallet

(*1*) to Johann Kerbrat, head of crypto at Robinhood, the product will attain greater than 1 million individuals who had been on the ready checklist.

“We at present help greater than 50 ERC tokens, listed within the app. Customers can ship tokens comparable to COMP, MATIC, SHIB, SOL, UNI, USDC and extra from the Robinhood App and different platforms to their Robinhood Wallet,” he stated on his Twitter account. “We have additionally added help for Ethereum and Polygon community NFTs, so you possibly can safely view and shield your favourite collections.”

Also in line with Kerbrat, wallet prospects will nonetheless be capable of change crypto and tokens with out community charges on Polygon. They also can connect with your favourite net 3.0 functions.

“We will probably be sharing entry codes with prospects that may give them entry to the Robinhood Wallet iOS app. So control your e mail. We will probably be providing entry periodically over the subsequent few weeks,” he stated.

All users granted entry to the wallet will obtain a “present” of $5 price of cryptocurrency, Kerbrat stated. As he stated, the reply is much less a wallet and extra a “Web 3.0 browser”.

“Robinhood Wallet is a very totally different product positioned in an unbiased app that enables users to have full management over their cryptocurrency and supplies entry to different options comparable to connecting to dApps and NFT markets,” Kerbrat advised Decrypt.

bodily cryptocurrency wallet

The reputation of self-secure crypto wallets elevated in 2022, particularly after the collapse of FTX and the rising uncertainty of central exchanges normally. (*1*) to CryptoSlate information from December 2022, 15 million Bitcoin (BTC) entered self-storage wallets through the 12 months 2022. This elevated the illiquid use of BTC to 78% throughout that interval.

In addition to Robinhood, decentralized finance (DeFi) protocol 1inch additionally introduced a wallet this week. But on this case, it is a {hardware} wallet. That is, a bodily crypto wallet with chilly storage (not on-line).

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