The Robinhood trading platform has announced the beta launch of its cryptocurrency wallets, which is slated for mid-January. The company said 1.6 million people have signed up for crypto wallets.

Robinhood’s crypto wallets to launch in beta this month

Robinhood announced this week the next beta launch of its highly anticipated cryptocurrency wallets. The company unveiled its proposed crypto wallet in September to allow customers to trade, send, and receive cryptocurrency using the Robinhood app.

Noting that 1.6 million people have already signed up for its crypto wallets, the ad details:

In mid-January, we will launch the beta phase of the portfolios, which will roll out to thousands of customers on the waitlist.

Robinhood also revealed that during the wallet’s recently completed alpha launch, “a tight-knit group” of waitlist clients tested the first iteration of the company’s crypto wallet “and shared detailed comments. on design and functionality “.

For example, alpha testers “asked for signage and explanation of terms such as” network charges “and” transaction ID “”.

Robinhood added:

We will deploy additional security features for crypto transactions. These include in-app multi-factor authentication, so we know it’s you when you initiate a transfer, and transaction checks to better understand the risk of where coins are sent.

“While some say 2021 is the year crypto went mainstream, the truth is that most people are still familiar with the asset class and how to navigate the blockchain,” the trading platform noted. .

In December, Robinhood partnered with Chainalysis to leverage the blockchain data analytics firm’s’ data and tools to meet compliance requirements and provide Robinhood customers with the confidence they need to trade crypto. currencies safe, ”Chainalysis described.

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What do you think of Robinhood’s launch of crypto wallets? Let us know in the comments section below.

Kevin helms

An Austrian economics student, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open source systems, network effects, and the intersection of economics and cryptography.

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