Robinhood’s crypto wallet opens up to the 2M people waiting for it

Image: Robinhood

The company has announced that all eligible customers will be able to use the wallet on its wait list. The wallet will not be available in Hawaii, Nevada, or New York due to local regulations.

You can't easily spend thecryptocurrencies on the platform because it sits in your account as a speculative asset until you decide to sell it. In contrast, Robinhood gives customers full access to their coins, and the ability to participate in the community by paying DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch DropCatch

Cryptocurrencies have become more popular with users of the platform, which is best known for its equity trading platform. Between Q2 and Q4 last year, its revenue from cryptocurrencies dropped by 78 percent.

It has a wallet with address validation and two-factor security. The company is ultimately responsible for the keys that can unlocked it. Many critics don't like the idea of end- users not having complete control over their private keys, but custodial wallet are helpful for anyone worried about losing access to their funds.

There are other limits to be aware of. As of September last year, the company said it wouldn't be letting customers buy stocks directly withcryptocurrencies, and an FAQ from the company explains that sending an NFT to a Robinhood address may result in it being lost.

It will add support for the Lightning Network in the near future, and it should offer customers a quicker and cheaper way to transfer Bitcoins.