Robinhood Akan Menerapkan Dompet dan Transfer Cryptocurrency Pada Bulan Oktober

Robinhood will add cryptocurrency wallet and transfer features designed to make it easier for customers to send and receive digital currencies. Representatives of the service reported this in their official blog.

Just yesterday, Bloomberg published a rumor that Robinhood employees are quietly testing the future crypto wallet, as the platform rolled out an official announcement after it today. In the last note on the company's official blog, the release date for the updates is October 2021. But the exact number was not specified.

Thanks to cryptocurrency wallets, platform users will be able to get rid of the need for the mandatory conversion of digital currencies into dollars when using them. It is also a great option for keeping money in one place with a secure private key. As an additional security measure, customers will also be offered to connect two-factor authentication with mandatory confirmation when performing any manipulations with the wallet.

Robinhood COO Christine Brown announced at the Mainnet conference in New York that those who leave a request on the site and get on the waiting list will be among the first to try out the new functionality. The rest of the users will have to wait a little more time before they will be given access to the innovations.

The company has not yet specified which cryptocurrencies their wallet will support. However, it is logical to assume that among them there will be those assets that Robinhood clients can trade without commission today: Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Dogecoin, Ethereum Classic, as well as Bitcoin SV.

The company introduced cryptocurrencies three years ago and since then, its trading volume has grown rapidly. And although in 2020 Robinhood earned $5 million on crypto trading services, already in the second quarter of 2021 this number was $233 million 41% of the total quarterly revenue of $565 million. At the same time, 62% of the firm's revenue came from transactions involving Dogecoin.

Earlier, Robinhood announced the launch of the function of periodic investments in digital currencies, allowing customers to automatically purchase their favorite coins without a commission for amounts of $1 or more according to a pre-planned schedule. In this way, the company proposes to reduce the stress associated with calculations by making long-term growth the basis of the clients' investment strategy.

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