THELOGICALINDIAN - Starting abutting ages Robinhood users will assuredly be able to move their cryptocurrencies off the app
Brokerage app Robinhood will absolution its new crypto wallet for beta testing in October, the aggregation appear Wednesday.
Robinhood to Release Custodial Crypto Wallet
Starting abutting month, users will be able to alteration their cryptocurrency into Robinhood’s new crypto wallet, chargeless of charge.
Robinhood Crypto COO Christine Brown appear the annual today at Messari’s Mainnet 2021 appointment currently actuality captivated in New York. Earlier this week, the Robinhood Twitter annual hinted at a accessible crypto wallet advancing to the platform, although did not affirm any specific details.
Since Brown appear the account on-stage at Mainnet, the aggregation has appear and official blog post analogue how the new crypto wallets will function.
While Robinhood barter accept been able to acquirement cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin via the agent for a while, this would be the aboriginal time they can alteration assets out of the app and into their own wallet.
The company’s new adaptable wallet app will be custodial, acceptation that users won’t authority the keys to their wallets and, therefore, won’t accept abounding ascendancy over their funds. However, the new functionality will acquiesce them to accelerate and accept crypto in and out of their Robinhood accounts, acceptation users with the “not your keys, not your coins” mentality will be able to move their funds into their own non-custodial wallets.
Starting today, Robinhood barter can accompany the cat-and-mouse account to get aboriginal admission to the wallet, which will activate rolling out in October and become attainable to anybody in aboriginal 2022.
Robinhood’s allowance app, which allows users to calmly buy and advertise stocks, launched in 2013, and alone began alms crypto trading casework in 2018. Today, 41% of the company’s revenue comes from cryptocurrency trading, with added than 60% of its barter trading cryptocurrencies at some point.
Aside from the wallet, Robinhood additionally afresh launched a new dollar-cost-averaging (DCA) affection that allows users to automatically buy crypto on a alternating circadian or account base in increments as baby as $1.
