For Traders

Analytical Reviews

News

21.01.202212:30 Forex Analysis & Reviews: Robinhood will launch cryptocurrency wallets

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

The company's blog posts on Thursday revealed that Robinhood Markets Inc is deploying cryptocurrency wallets for 1,000 users, allowing them to send and receive cryptocurrencies through their brokerage accounts.

Last year, the Menlo Park-based online brokerage laid out plans to start testing cryptocurrency wallets with a goal to wider use in 2022.

Out of the 1.6 million people on the crypto wallet waiting list, the top 1,000 can now exchange their cryptocurrency from Robinhood for external crypto wallets.

The new feature also connects digital asset owners to the blockchain ecosystem.

According to the company's terms, Beta testers will have a daily limit of $2,999 for total withdrawals and 10 transactions. They will also need to enable two-factor authentication.

Robinhood plans to expand the program to 10,000 customers by March 2022.

Robinhood's customers have long been asking for cryptocurrency wallets, which allow them to participate more broadly in blockchain-based ecosystems to be able to buy virtual assets such as non-fungible tokens (NTF) on the Ethereum network.

The company will be required to report fourth-quarter earnings on January 27.

Back to the list

Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.