Much-Awaited Robinhood Crypto Wallet Testing Now Live

• Robinhood finally released the beta version of its much-awaited crypto wallet that will allow users to withdraw digital currency from the platform.

• On 20th Jan, Robinhood disclosed that they will be taking the assistance of Beta testers for testing key features of the crypto wallet and also providing essential comments that will help them to develop a finished product.

• A limited number of users who signed up for the crypto wallet queue program will be able to withdraw cryptocurrency from the popular stock and cryptocurrency trading site.

Robinhood, an online retail investing platform, has launched a beta version of its long-awaited crypto wallet, which will allow customers to withdraw cryptocurrency from the platform.

The first 1,000 people who signed up for the ‘Wallets’ list are eligible to participate in beta testing. Wallets testers will be able to withdraw cryptocurrency worth up to $2,999 in a total of 10 transactions per day.

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Robinhood is a financial services platform that allows stock and cryptocurrency trading and is supported by Citadel Securities. Since the start of the waitlist in mid-2021, Robinhood’s crypto purchasers have been waiting for the release of crypto wallets. In November, Brown stated that 1.6 million people had signed up for the waitlist, accounting for around 7% of the total user population.

While the current limitation of 1,000 testers is in place, the business intends to increase it to 10,000 by March.

ALSO READ – ROBINHOOD INTRODUCES THE BETA VERSION OF ITS CRYPTO WALLET

Beta Tester To Robinhood Rescue In Testing Out Key Features Of Crypto Wallets

According to Robinhood’s 20 Jan announcement, Beta testers will assist them in testing core features and providing vital comments that will further help to shape the final product.

If they are not presently Robinhood users, Wallets testers will be forced to complete a know-your-customer (KYC) identification process and use a two-factor authentication app.

While the Beta program is still active, Robinhood’s Crypto COO Christine Brown wrote on Twitter that the firm will strive to complete the send and receive flows and add enjoyable QR scanning experiences, improved transaction history, and block explorer functionality while the program is still running.

He also shared that he will be working on finalizing the send and receive flows, as well as adding delightful QR scanning experiences, enhanced transaction history, and block explorer functionality so users can see their transactions on-chain during the Beta phase.

Until the launching of crypto Wallets, any crypto purchased on the platform could neither be withdrawn nor stored privately, thereby making it a transaction only in name.

Now, Robinhood’s developing crypto division is starting to resemble a full-fledged crypto exchange, which will completely connect Robinhood crypto holders to the wider blockchain ecosystem for the very first time, according to the business.

Dogecoin (DOGE) is the preferred currency of many of its dealers. In Q2 2021, DOGE contributed 41% of Robinhood’s total revenue, up from 19% in Q3. Since Robinhood co-founder Vlad Kardapoltsev recently commented on the growing amount of SHIB token holders, there are also rumors that the business would list Shiba Inu (SHIB).

SHIB’s IPO would be dependent on regulatory feasibility, according to Brown. In after-hours crypto trading, the price of Robinhood (HOOD) has dropped to an all-time low of $13.50.