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Robinhood Begins Rolling Out Crypto Wallets to Select Customers Skip to main content

Robinhood Begins Rolling Out Crypto Wallets to Select Customers

Robinhood Begins Rolling Out Crypto Wallets to Select Customers

Trading platform Robinhood has begun rolling out crypto wallets to 1,000 customers. Users can send and receive their cryptocurrencies from Robinhood to external crypto wallets, the company explained, adding that by March, 10,000 customers will be testing the wallets before rolling out to the rest of the waitlist.

Robinhood Lets 1,000 Customers Test Its Crypto Wallets

Popular trading platform Robinhood announced Thursday that its “crypto wallets beta program” is now live. The announcement details:

Starting today, we’ll begin rolling out crypto wallets to 1,000 customers from the top of the wallets waitlist (subject to owning an external wallet for testing and some safety checks).

“By March, we will expand the program to 10,000 customers before rolling out to the rest of the Wenwallets waitlist,” the announcement adds.

The company explained that in the beta testing phase, its customers can send and receive their cryptocurrencies from Robinhood to external crypto wallets. There is a daily limit of $2,999 in total withdrawals and 10 transactions for beta testers.

Robinhood also revealed that over the duration of the beta program, it “will finalize the send and receive flows, add delightful QR scanning experiences, improve the transaction history interface, and add block explorer support to provide more insights into their on-chain transactions.”

Furthermore, the company noted:

We will also add the ability for customers to calculate the dollar amount of crypto to send/receive in terms of dollar amounts.

Earlier this month, Robinhood said that 1.6 million people have signed up for its crypto wallets so far.

The trading platform currently supports the buying, selling, and real-time market data for bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum classic (ETC), and litecoin (LTC).

Shiba inu crypto supporters have petitioned on Change.org for Robinhood to list SHIB. However, the company said: “We’re a highly regulated company in a highly regulated industry, and we think it’s important that we get a bit more clarity from regulators.”

What do you think about Robinhood launching crypto wallets? Let us know in the comments section below.

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