Robinhood is beta testing its new crypto wallet program. The top 1,000 people on the waitlist will get access first. Then again, in March 2022, this will expand the number of 10,000 people who will be able to use these digital currency wallets at any given time before opening up registration for all remaining available locations.
last year, Project Robin Hood begins Testing crypto wallets, one of which is targeting a wider rollout by 2022.
Robinhood connects cryptocurrency holders to the blockchain ecosystem for the first time.They allow people to use cryptocurrencies like Ethereum, Bitcoin and Litecoin are in their accounts on Robinhood and can be moved freely between external wallets without any hassle or cost imposed by third parties such as banks.
Bitcoin is below $37K first time ever in 4 months | Source: BTCUSD at Tradingview.com
Also, they are testing some key features that will determine how we use these tokens. If you don’t like it, let them know – beta testers love feedback, so I’ll give it to you today.
The beta phase of the Robinhood wallet follows several months of development and testing in the “alpha phase.”
“Through our Alpha program, we seek feedback from a close-knit group of customers on the wallet waitlist.”
Users on Robinhood can trade cryptocurrencies through the platform, but they cannot store, exchange or manage digital assets. The crypto wallet will now allow users to manage all their crypto assets within the app.
Robinhood Crypto Wallet Daily Limit
Users can withdraw $2,999 in 10 transactions per day. They also need to have two-factor authentication enabled.
Some have dubbed Robinhood the “Financial Amazon” because of its disruptive business model and bank-like functionality. For example, the company offers commission-free stock trading and cash management accounts.
However, not everyone is excited about the new app on their devices as they have been scrutinized by several regulators over the past year ‘Gamification‘A plan that looks too good may not be real.
Featured image from Pixabay, chart from TradingView.com