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Robinhood Confirms Adding New Crypto Wallet Feature to Its App Next Month

| Updated
by Juhi Mirza · 2 min read
Robinhood Confirms Adding New Crypto Wallet Feature to Its App Next Month
Photo: Robinhood

With this new feature, people will be able to buy daily items of use or make even bigger purchases like NFT through their acquired BTC and ETH that are stored in their Robinhood crypto wallet.

Robinhood in their official blog post has confirmed that the new crypto wallet feature that is set to roll out next month will initially be accessible by a small group of clients. These clients will test the efficacy of the feature and will later inform the company about its progress. Robinhood has also announced that they will update any associated development regarding the app feature on their blog for others to stay notified and informed.

Robinhood’s crypto wallet feature is said to expand the company’s service portfolio by introducing ease in conducting day-to-day transactions using cryptocurrency and enabling consumers to purchase products using BTC and ETH.

Robinhood New Crypto Wallet Feature Promises Safe and Secure Crypto Transactions

The company’s COO Christine Brown took to Twitter to share the news of their crypto wallet feature. She further stated that with the arrival of this new feature, people will easily be able to buy daily items of use or can make even bigger purchases like NFT through their acquired BTC and ETH that are stored in their Robinhood crypto wallet.

Brown also agreed that it took a fairly long time for the company to introduce this feature. She explained that they needed time to prioritize the safety of their consumers in terms of secure transactions. Brown further explained that the users will also be able to set up recurring crypto investments which will allow them to buy crypto on schedule without needing to pay any additional commission or charge.

Robinhood also has a waitlist full of clients who wish to get included as participants in their crypto wallet trial test run. The registration link for the same has been published live on their blog and offers its consumers a glimpse of what this feature can accomplish in the domain of crypto transactions and proceedings. The customers can secure their spot as a partaker and can be the first ones to experience Robinhood’s crypto wallet functions and specifications.

The new wallet will include elements such as the ability to send and receive crypto from other accounts, move coins to your Robinhood balance, and trade on these acquired coins without paying any extra charge.

To make the transactions more safe and secure, Robinhood claims to introduce robust security functions such as identity verification process, multi-factor authentication, and email/phone one-time password authentication to keep the accounts strictly user-oriented, without any third-party interference.

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Juhi Mirza
Author Juhi Mirza

Juhi Mirza is an archaeology major who is obsessive about blockchain/Crypto technology and deems it to be the foundational philosophy of the future. Her dogged ability to research and crystallise technical facts/multiple perspectives into rivetting stories makes her an accessible finance writer. She tends to her archaeological pursuits and loves unearthing the past over the weekends.

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