Money
Robinhood to launch cryptocurrency wallets – here’s how to get invoved:
Robinhood is finally adding cryptocurrency wallets to its platform so that users can spend and trade their Bitcoin and Ethereum
Robinhood is debuting a feature that gives traders more control over digital tokens in its latest expansion in the cryptocurrency space.
The newly public brokerage is testing “crypto wallets” with select clients next month, the company announced in a blog post Wednesday. The so-called wallet will allow investors to trade, send and receive digital currencies, as well as move them in and out of the Robinhood app.
Shares of Robinhood rose 10.9% on Wednesday following the news.
The wallets will start as a test and the company is setting up a waitlist where people can sign up to be among the first to get access.
The move represents a big step in the company’s crypto journey, one that some of its users have been asking it to take for years.
In recent months, some users — particularly Dogecoin traders — have taken to social media to complain that by using Robinhood as their broker, they had exposure to crypto prices but not actual ownership of the coins themselves.
The rollout will eventually allow clients on a waitlist to join.
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