Trading Platform Robinhood Announces Upcoming Launch of Cryptocurrency Wallets

Trading Platform Robinhood Announces Upcoming Launch of Cryptocurrency Wallets

Trading Platform Robinhood Announces Upcoming Launch of Crypto Wallets

Trading platform Robinhood has introduced the beta launch of its cryptocurrency wallets, which is ready for mid-January. The firm mentioned 1.6 million folks have signed up for the crypto wallets.

Robinhood’s Crypto Wallets to Launch in Beta This Month

Robinhood introduced this week the upcoming beta launch of its extremely anticipated cryptocurrency wallets. The firm unveiled its crypto pockets undertaking in September to permit clients to commerce, ship, and obtain cryptocurrencies utilizing the Robinhood app.

Noting that 1.6 million folks have signed up for its crypto wallets thus far, the announcement particulars:

In mid-January, we are going to launch the wallets beta part, which is able to roll out to hundreds of consumers from the waitlist.

Robinhood additionally revealed that throughout the pockets’s alpha launch, which lately wrapped up, “a tight-knit group” of consumers from the waitlist examined the corporate’s first crypto pockets iteration “and shared detailed design and performance suggestions.”

For instance, the alpha testers “requested signposting and explanations of phrases like ‘community charges’ and ‘transaction ID.’” In response, the corporate mentioned that it’s going to present extra crypto articles and supply 24/7 telephone help.

Robinhood added:

We will probably be rolling out some extra security measures for crypto transactions. These embrace multi-factor authentication in-app, so we all know it’s you if you provoke a switch, and transaction checks to higher perceive the chance of the place cash are being despatched.

“While some say 2021 is the yr that crypto went mainstream, the reality is that most individuals are nonetheless familiarizing themselves with the asset class and navigate the blockchain,” the buying and selling platform famous.

In December, Robinhood partnered with Chainalysis to leverage the blockchain knowledge analytics agency’s “knowledge and instruments to satisfy compliance necessities and supply Robinhood clients with the arrogance they should commerce cryptocurrency safely,” Chainalysis described.

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