The forthcoming crypto wallet will allow users to deposit and withdraw
Bitcoin, Ether, Dogecoin and other tokens, the company said.
Cryptocurrency and stock trading app Robinhood plans to roll out the
beta version of its digital wallet feature starting in January 2022.
In a Wednesday blog post, Robinhood said
tens of thousands of users currently on the waitlist for the trading
app’s crypto wallet would have access to the beta version starting in
mid-January. The trading app said more than 1.6 million people were
waiting for the wallet, which will support depositing and withdrawing
Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE) and other tokens.
The trading app has been testing its digital wallet feature
since it was first announced in September, completing its first alpha
transfer — using DOGE — on Nov. 22. According to Robinhood chief
operating officer Christine Brown, the beta rollout would be focused on the security of users, as well as providing education on crypto transactions and clarity around network and gas fees.
“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,” said Robinhood. “With
the launch of wallets, we’re thrilled to play a significant role in
welcoming a broad range of investors to the cryptosphere for the very
first time.”
The
share price of Robinhood (HOOD) on the Nasdaq seemed to be unmoved by
the recent announcement. First going public in July, the stock has
steadily declined from an all-time high price of $70.39 on Aug. 4 to
$17.03 at the time of publication, a drop of more than 75%.
source link : https://cointelegraph.com/news/robinhood-plans-to-launch-beta-crypto-wallets-in-january-as-hood-drops-to-17
