Amongst all of the criticism emanating from certain policymakers regarding payment for order flow and gamification, Robinhood (NASDAQ:HOOD) continues to iterate and add new features for its growing legion of investors. Today, as has been widely rumored, Robinhood will soon offer crypto wallets to provide a simple and secure way to hold and trade digital assets.
In a blog post, Robinhood stated:
“Robinhood crypto wallets will allow you to move your crypto in and out of your app in a few taps: send your crypto to other wallet addresses and receive supported cryptocurrencies into your Robinhood account. This means you can consolidate your coins into one account so it’s easier to track your portfolio, move supported coins into your Robinhood account so you can trade those coins commission-free, and more. The best part? We’re making crypto transfers safe, secure, and simple––whether you’re a long-time crypto trader, or one of the millions of people transacting on-chain for the first time. At Robinhood, we’re designing wallets to be intuitive, with security features such as identity verification, multi-factor authentication, and email and phone verification to keep coins safe from hacks and other threats. “
Security is obviously of paramount concern for any digital wallet creator. Hacks have been too prevalent in the digital asset sector and Robinhood most certainly factored in this risk to its pursuit of a digital wallet.
Robinhood is accepting registrations now for a waiting list for individuals to be the first users of its cryptowallet.
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