Robinhood to launch crypto wallets for Bitcoin, Ethereum, and Dogecoin by October

  • Robinhood prepares to launch a wallet for BTC, ETH and DOGE to facilitate cryptocurrency holding for users. 
  • Waitlisted users on Robinhood to get access to the wallet as early as October 2021. 
  • The launch of a wallet is the first step in rolling out cryptocurrency and NFT services. 

Commission free stock and crypto trading platform Robinhood has finally announced the launch of cryptocurrency wallets. 

Robinhood teases the launch of crypto wallets as early as October 2021

Since the launch of crypto trading on the commission free exchange Robinhood, the crypto community has awaited the launch of a cryptocurrency wallet. Earlier today, the exchange platform made the launch official through a blog post. 

The post reads,

We’re excited to share that starting next month, the first customers will begin testing crypto wallets on Robinhood. We’ll share their experience and feedback on our blog and Twitter regularly so you can follow along and get an under the hood look into what we’re building.

The exchange has invited users to join the waitlist to test the wallet facility. Robinhood’s wallets will allow users to receive supported cryptocurrencies, track their portfolio and trade commission-free on its exchange platform. 

A few weeks ago the exchange announced the launch of dollar cost averaging and the feature is currently live for users. Robinhood states that it is focused on making cryptocurrency easier and accessible for traders. 

Vlad Tenev, company chief at Robinhood teased in July 2021, that the company has planned the launch of a crypto wallet feature and wanted to provide users an app-based cryptocurrency wallet feature. Users have been unable to move their cryptocurrency holdings from Robinhood’s exchange platform and once the wallets are launched, this is set to change. 

The exchange took the first step by launching cryptocurrency wallets, before jumping in on NFT trends. 

The platform teased users on Twitter, asking the feature they would like to see on its commission-free exchange.

The announcement comes at a time when ARK Invest, a leading American Investment Management Firm bought $31 million worth of Robinhood shares. 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed

Latest Crypto News

Latest Crypto News & Analysis

Editors’ Picks

Omicron crypto surges over 200% after being named as new COVID-19 variant

While cryptocurrency prices retraced after the new coronavirus variant Omicron emerged earlier this week, the digital asset with the same name gained popularity and surged over 200%. The small-cap crypto describes itself as a decentralized reserve currency on the Abribtrum Network.

More Cryptocurrencies News

SafeMoon price dips into buy zone, hints at the start of an 80% bull run

SafeMoon price saw its uptrend face a massive blockade, triggering the start of a huge pullback. Due to the retest of a bullish zone, market participants can expect SAFEMOON to restart its bull rally. SafeMoon price rose 484% from its low at $0.00000104 to $0.00000609 in a month.

More SafeMoon news

Basic Attention Token bucks downtrend with explosive rally to new all-time high

Basic Attention Token has snubbed the crypto downtrend and hit a new all-time high above $1.90. Brave browser has crossed 42 million active users, and BAT token utility is on the rise. Analysts predict a rally in the token.

More Cryptocurrencies news

Vitalik Buterin announces Ethereum scaling roadmap using the Graph protocol

Ethereum co-founder Vitalik Buterin revealed a strategic roadmap to expand the available data space for rollups using Graph protocol. The token’s trade volume has increased, and analysts expect an upwards move in GRT price. 

More Ethereum news

Black Friday 2021 Discounts!

Do you want to take your trading skills to the next level? Now you have a chance of leaping forward at attractive introductory rates. For Black Friday, FXStreet is offering discounts of up to 50% on its upgraded Premium plans. 

Subscribe now!