Robinhood Markets has announced that it will launch a beta version of its cryptocurrency wallet in January.
After months of trials; the American financial services company known for commission-free trades of stocks, exchange-traded funds and cryptocurrencies; is now ready to move to the beta version. Beta version will be now available to up to 1 lakh customers.
"What’s next? The #WalletsBeta phase will start in mid-January & enable a larger group of users from the waitlist to gain access. While Alpha focused on a small batch of customers and 1:1 engagement, Beta will roll out to tens of thousands of customers," Christine Brown, Robinhood Crypto COO tweeted on Wednesday.
What’s next? The #WalletsBeta phase will start in mid-January & enable a larger group of users from the waitlist to gain access.
While Alpha focused on a small batch of customers and 1:1 engagement, Beta will roll out to tens of thousands of customers.— Christine (Hall) Brown (@christine_hall) December 29, 2021
Brown said since Robinhood's Alpha program ended, the company has been reviewing the feedback and findings. She said there will be additional clarity around network/gas fees and security was top of her mind.
According to a Business Insider report, the platform's alpha program saw 1 million waitlist sign-ups in less than 30 days, and currently, around 1.6 million in total. Robinhood also announced it made its first dogecoin transfer to an external wallet.
Goodbye #WalletsAlpha, Hello Beta!
Since our Alpha program ended, we have been reviewing the feedback and findings.Top themes include:- Maintain the Robinhood experience- More education- Additional clarity around network/gas fees- Security is top of mind— Christine (Hall) Brown (@christine_hall) December 29, 2021
Robinhood users can trade in cryptocurrencies, but currently they can't store, manage, or swap digital assets in and out of their accounts. A wallet will allow them to manage their holdings within the app. Coinbase and Gemini already offer their own wallet.
(Edited by : Bivekananda Biswas)
First Published: IST