Robinhood Begins Launching Beta Version of Cryptocurrency Wallets


Robinhood launches beta version of cryptocurrency wallet program.


Robinhood started to launch the beta version of its new cryptocurrency wallet program.

The wallets will go first to the top 1,000 people on the company’s waiting list, with the program slated to expand to 10,000 people by March, before opening to the rest of the waiting list.

Participating customers will be able to move cryptocurrencies such as Bitcoin, Ether and Litecoin between Robinhood and external cryptocurrency wallets, fully connecting the company’s cryptocurrency holders to the blockchain ecosystem for the first time. Beta testers will also help test core functionality and provide feedback that will help shape the final version of the product, said Robinhood.

Users will have a daily limit of $2,999 on total withdrawals and ten transactions. They will also need to enable two-factor authentication.

Founded in 2013, Robinhood’s financial app, which makes it easy and free to buy and sell stocks, also offers cash management accounts and previously supported some cryptocurrency trading. The company is mired in controversy, drawing scrutiny from state regulators and academics for “investing in gamification” and for its role in last year’s GameStop commercial fiasco.

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