Almost four years after Robinhood began offering cryptocurrency trading on its platform, the company is finally on the verge of introducing crypto wallets for its customers.
Announced in a blog post on its website, Robinhood is now beta testing crypto wallets for those trading on its platform. For now, only 1,000 select accounts that have signed up to its Wallets waitlist will be able to try out the new feature, but the company hopes to increase that number to 10,000 by March before an even larger release later in the year. the year.
In addition to being able to store and trade cryptocurrencies with the wallet directly on Robinhood, users will also be able to send and receive external wallet coins, connecting them to the large-scale blockchain. Just like other services on the market, the wallet can calculate an estimated dollar amount for what you currently own or want to send and receive. A daily limit of $2,999 in withdrawals and 10 transactions will initially be in place, although Robinhood did not say if the figure would change later.
“Beta testers will help us test core functionality and provide critical feedback to inform the final product release,” the blog post read. “During the duration of the beta program, we will finalize send and receive flows, add delightful QR scanning experiences, improve the transaction history interface, and add block explorer support for provide more information about their on-chain transactions.”
To learn more, you can head over to Robinhood.
Elsewhere in tech, Meta is reportedly looking to enter the NFT market.