Robinhood Finally Caves in With Crypto Wallet Addition

Cryptocurrency News and Public Mining Pools

Robinhood Finally Caves in With Crypto Wallet Addition

After months of complaints from the cryptocurrency community, trading app Robinhood (Nasdaq: Hood) announced Wednesday that crypto wallets are finally arriving on the platform in a beta test.

History: While users have been able to buy or sell certain cryptocurrencies on Robinhood, the platform lacked a wallet feature found on other platforms.

Driving the Change: Crypto traders, especially those who traded Dogecoin, reportedly have spent months on social media complaining that they wanted to own the actual coins instead of just getting price exposure. A crypto wallet allows traders to use the actual coins to make purchases.

Features: Robinhood said that its wallet will allow users to buy and sell crypto with just a few taps. There are also security features such as identity verification and multi-factor authentication.

Final Thoughts: Prices for many cryptocurrencies increased Wednesday, and shares of Robinhood increased 10.85%.

Hope you enjoyed this commentary. Please subscribe to Early Bird, a free daily newsletter that helps you identify crypto trends: https://earlybird.email/

submitted by /u/MrComedy325
[link] [comments]