Robinhood to launch Crypto Wallet in Beta in early 2022



Robinhood Markets is a U.S. based crypto trading app. It has its headquarters in Menlo Park, California. It is planning to introduce its digital wallet in Beta, early next year. It had first announced that it would be launching its own crypto wallet in September. The app has provided details in a blog post.

The blog outlined Robinhood’s “Wen Wallets.” It said that the Alpha Program had been wrapped up and that they had received feedback from the customers who had tested the program.

Customers had wanted additional security features and multi step authentication was being worked into the digital wallet. They also said that the Alpha testers wanted network fee information in a simple and understandable manner at the time of transfer.

The blogpost ended with a link to join the beta waitlist. It also provided a link to join the Robinhood app in case the reader was not as yet a customer on the app.

Many of Robinhood’s crypto rivals such as Coinbase, Gemini and more already have their own crypto wallets. Users of the Robinhood app had also asked for a crypto wallet feature and so it was developed by the company.

in its Alpha version, which was considered to be the software testing version, it received a waitlist enrollment of over a million waitlist signups in less than a month.

The Alpha program successfully transferred DOGE, a crypto coin, from a Robinhood wallet to an external wallet, in November, in a tweet, according to Christine Hall Brown, COO of Robinhood.

The company also said that they were ready to move to the Beta phase which is the software development phase. A large group of users will test the Beta program in mid January 2022.

Brown said that the Beta program would be available for testing by tens of thousands of customers, in her tweet on Wednesday. She also attached a full review of the Alpha phase. The information gave extra clarity around gas fees as well as issues of tighter user security.

Brown had earlier said that the Robinhood app was aiming to become a one-stop-shop service for everything from trading stocks to crypto.


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