First 1,000 Robinhood Customers Get Crypto Wallets


The US online trading platform Robhood launched a beta program to test its crypto wallet and began rolling out wallets to 1,000 customers at the top of its WenWallets waiting list.

Robinhood stated in a statement that the program will cover 10,000 customers by March before activating the feature for the remainder of the waitlist.

This was the platform’s second major milestone in the Wallets rollout. It allows customers to send and get crypto from Robinhood to other crypto wallets as well as “fully link Robinhood crypto holders with the greater blockchain ecosystem.”

They explained that beta testers will be used to help test core functionality and provide “critical feedback” for the final product.

They will receive USD 2,999 daily in total withdrawals and 10 transactions. They will need to enable 2-factor authentication (2FA). According to the statement, the company claims it has developed “world-class security systems to monitor all transactions.”

Robinhood will complete the send and get flows during the Beta program. It will also add QR scanning experiences to make it more enjoyable, improve the transaction history interface and support block explorer to give users greater insight into on-chain transactions.

Last November, stated that approximately 1.6 million people had registered to be on the waitlist for this much-awaited feature.

Vlad Tenev, CEO at Robinhood, said that the company’s recent wallet move was due to the increasing importance of cryptocurrencies. Tenev said that they are proud of their cryptocurrency platform and give people more utility with the coins that they have. This was according to CNBC’s Disruptor 50 summit.

As crypto trading platforms face increased competition, last month revealed that Robinhood is working on a new feature to allow customers to send cryptocurrency to others as gifts.

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