Robinhood Launches Beta Cryptocurrency Wallet

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Trading platform Robinhood has launched a beta version of a cryptocurrency wallet, which will give app users access to the entire blockchain ecosystem.

Back in October last year, Robinhood CEO Vlad Tenev announced that more than 1 million people were on the waiting list. So far, the feature that will allow users to transfer cryptocurrencies to external wallets is available to the first thousand on the waiting list, but the company plans to expand this number to 10,000 by March.

Robinhood is currently testing core functionality and users have a daily withdrawal limit of $2,999 and a cap of 10 transactions per day. In the future, a transaction history, QR scanning and a block explorer will be added to the application.

“Connecting millions of customers to the blockchain ecosystem is a very ambitious task. We understand all responsibility and take it seriously, so we take our time and systematically achieve our goals. Safety comes first for us,” said Robinhood.

The fact that Robinhood will launch a beta version of a cryptocurrency wallet became known in December last year. Then it was reported that about 1.6 million users were waiting for the new feature.

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