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Trading platform Robinhood Announces Upcoming Launch of Cryptocurrency Wallets – Wallets Bitcoin News

The trading platform Robinhood has announced the beta start of its cryptocurrency wallets for mid-January. According to the company, 1.6 million people have signed up for the crypto wallets.

Robinhood’s crypto wallets will start in beta this month

Robinhood announced the upcoming beta launch of its highly anticipated cryptocurrency wallets this week. The company unveiled its crypto wallet project in September, which allows customers to trade, send and receive cryptocurrencies using the Robinhood app.

Given that 1.6 million people have signed up to date for its crypto wallets, the announcement includes the following details:

In mid-January we will start the wallet beta phase, which will be rolled out for thousands of customers from the waiting list.

Robinhood also revealed that during the wallet’s alpha launch, which was recently completed, “a close-knit group” of customers on the waiting list tested the company’s first iteration of crypto wallet and shared detailed feedback on its design and functionality.

For example, the alpha testers required “labeling and explanation of terms such as ‘network charges’ and ‘transaction ID'”. In response, the company said it would post more crypto items and provide 24/7 phone support.

Robinhood added:

We are going to introduce some additional security features for crypto transactions. These include multi-factor authentication in the app so we know it’s you when you initiate a transfer and transaction reviews to better understand the risk of where coins are being sent.

“While some say 2021 will be the year crypto went mainstream, the truth is that most people are still getting to grips with the asset class and navigating the blockchain,” the trading platform noted.

In December, Robinhood partnered with Chainalysis to “leverage the blockchain data analytics company’s data and tools to meet compliance requirements and give Robinhood customers the confidence they need to trade cryptocurrencies securely,” described Chainalysis.

Tags in this story

Alpha start, beta start, crypto wallet start, Robinhood, Robinhood crypto app, Robinhood crypto wallets, Robinhood online brokerage, Robinhood trading app, Robinhood wallet, Robinhood wallet app, Robinhood wallets, trading app, wallet app

What do you think of Robinhood launching crypto wallets? Let us know in the comment section below.

Kevin Helms

Kevin, a student of Austrian economics, found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects and the interface between economy and cryptography.

Photo credit: Shutterstock, Pixabay, Wiki Commons

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