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Robinhood announces the beta launch of its cryptocurrency wallets

The trading platform Robinhood will shortly launch its crypto wallet beta program. (Image source: Robinhood)
The trading platform Robinhood will shortly launch its crypto wallet beta program. (Image source: Robinhood)
Robinhood, the trading platform known for commission-free trading, has announced the beta program for its crypto wallets. The program will launch in mid-January, with over 1.6 million customers already on the waitlist.

Robinhood has announced that it will launch the beta version of its cryptocurrency wallets shortly. These crypto wallets will allow you to trade, send and receive cryptocurrency using the Robinhood app.

According to Robinhood, a trading platform known for commission-free stock trades and investments, around 1.6 million people have already signed up for one of its crypto wallets. The company saw 1 million customers sign-up within 30 days of the initial launch announcement.

So far, the app has been tested with customers in its alpha state to ensure a customer-centric design. Features requested through the alpha program include educational content to explain key terms such as "network fees" and "transaction ID" to customers in-app.

This new Robinhood tool will have one wallet per coin and include in-app multifactor authentication for additional security. The app will also help you understand the network fees you need to pay for each transaction; while Robinhood is a commission-free platform, you are charged a network fee when transacting on-chain.

The cryptocurrency wallet beta is due to launch in mid-January, which will give thousands of customers currently on the waitlist access to the feature. You can join the waitlist at wenwallets.com.

Buy the book Cryptoassets: The Innovative Investor's Guide to Bitcoin and Beyond on Amazon

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Polly Allcock
Polly Allcock - Tech Writer - 315 articles published on Notebookcheck since 2021
I've been interested in technology for as long as I can remember. From a young age, I have loved gadgets and understanding how things work. Since graduating, I have worked for several technology companies across FinTech, AdTech and Robotics.
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> Notebook / Laptop Reviews and News > News > News Archive > Newsarchive 2022 01 > Robinhood announces the beta launch of its cryptocurrency wallets
Polly Allcock, 2022-01- 2 (Update: 2022-01- 2)