Robinhood Crypto Wallet Under Test, Top 1,000 Users Waiting List To Get Beta

Robinhood, the popular US stock and crypto trading app, has officially released the beta version of its crypto wallet for 1,000 users who signed up for the waitlist. The company relies on beta testers to test the core functionality of its wallet service. Users will be able to send and receive their cryptocurrencies through Robinhood’s wallet. Last year, the company revealed plans to roll out its beta wallets to customers in January 2022 and Robinhood has indeed been successful.

“During the duration of the beta program, we will finalize send and receive flows, add QR scanning experiences, improve the transaction history interface, and add block explorer support to provide more information about their on-chain transactions,” Robinhood said in an official blog post.

Christine Brown, COO of Robinhood’s crypto team, posted about the development on Twitter.

For the next phase, the company will expand its wallet test program to 10,000 users from its WenWallets waiting list. People can still join this waiting list to get their hands on the Robinhood Wallet as soon as it rolls out in priority.

“We will also add the ability for customers to calculate the dollar amount of crypto to send/receive in terms of dollar amounts. Beta testers will have a daily limit of $2,999 (roughly Rs. 2 lakh) in total withdrawals and 10 transactions, and will need to enable two-factor authentication,” the company added.

Robinhood claims to have integrated security features around identity verification and authentication into its wallet offering amid accelerating crypto-related cybercrimes in the US, as well as other parts of the world. world.

In December last year, Robinhood said more than 1.6 million people had already signed up for its wallet waitlist.

Robinhood has been working on expanding its portfolio of services to meet the different needs of investors.

For example, in September 2021, the company launched a feature allowing users to regularly invest in their favorite coins – totally commission-free with as little as $1 (around Rs. 75) on a schedule of their choosing.

Founded in 2013, Robinhood is headquartered in California, USA. According to market monitoring firm Statista, the number of Robinhood users has grown from half a million in 2014 to 22.4 million in 2021.

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