Trading platform Robinhood has begun rolling out crypto wallets to 1,000 customers. Users can send and receive their cryptocurrencies from Robinhood to external crypto wallets, the company explained, adding that by March, 10,000 customers will be testing the wallets before rolling out to the rest of the waitlist.
Robinhood Lets 1,000 Customers Test Its Crypto Wallets
Popular trading platform Robinhood announced Thursday that its “crypto wallets beta program” is now live. The announcement details:
Starting today, we’ll begin rolling out crypto wallets to 1,000 customers from the top of the wallets waitlist (subject to owning an external wallet for testing and some safety checks).
“By March, we will expand the program to 10,000 customers before rolling out to the rest of the Wenwallets waitlist,” the announcement adds.
The company explained that in the beta testing phase, its customers can send and receive their cryptocurrencies from Robinhood to external crypto wallets. There is a daily limit of $2,999 in total withdrawals and 10 transactions for beta testers.
Robinhood also revealed that over the duration of the beta program, it “will finalize the send and receive flows, add delightful QR scanning experiences, improve the transaction history interface, and add block explorer support to provide more insights into their on-chain transactions.”
Furthermore, the company noted:
We will also add the ability for customers to calculate the dollar amount of crypto to send/receive in terms of dollar amounts.
Earlier this month, Robinhood said that 1.6 million people have signed up for its crypto wallets so far.
The trading platform currently supports the buying, selling, and real-time market data for bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum classic (ETC), and litecoin (LTC).
Shiba inu crypto supporters have petitioned on Change.org for Robinhood to list SHIB. However, the company said: “We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators.”
Tags in this story
What do you think about Robinhood launching crypto wallets? Let us know in the comments section below.
A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.