US-based major financial services company Robinhood confirmed that crypto wallets are coming to the platform, allowing their users to move crypto in and out of the app.
They shared in today’s announcement that “starting next month, the first customers will begin testing crypto wallets on Robinhood.”
The next step is to observe the experience and feedback of those testing the new service, and share it with the rest of the community, after which they “will continue to roll out access to more and more customers through our waitlist.”
“We’re not first to the market — we’ve been taking our time to make sure that we build this in a phased approach,” Robinhood’s Chief Product Officer Aparna Chennapragada told CNBC. “We’ll have a few customers come in, iterate on the product, get the customer feedback and then expand from there.”
Interested users can already join the waitlist.
This wallet will allow users to move their crypto in and out of the app, send crypto to other wallet addresses, as well as receive supported cryptocurrencies. “This means you can consolidate your coins into one account so it’s easier to track your portfolio, move supported coins into your Robinhood account so you can trade those coins commission-free, and more,” said the post.
The wallets are coming with security features such as identity verification, multi-factor authentication, as well as email and phone verification.
And while the company recently announced the launch of crypto recurring investments, they’ve made it available to all users starting today. This allows users to buy chosen coins automatically, commission-free, “and with as little as [USD] 1 on a schedule of your choice,” said the announcement.
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