Beautiful Virgin Islands

Tuesday, Jun 24, 2025

What is a crypto wallet? You could soon get one with Robinhood

What is a crypto wallet? You could soon get one with Robinhood

Customers of Robinhood, which benefited from a boom in retail trading during the COVID pandemic, have long asked for crypto wallets.

Robinhood said it plans to begin testing cryptocurrency wallets next month to allow its users to move, send and receive cryptocurrencies in and out of the Robinhood app.

The American financial services company based in California said on Wednesday a broader rollout will be launched in early 2022.

The Menlo Park-based retail brokerage currently allows buying, selling, and holding certain cryptocurrencies, like Bitcoin and Dogecoin, and last quarter saw crypto transactions exceed equities transactions for the first time.

What is a crypto wallet?


Customers of Robinhood, which benefited from a boom in retail trading during the pandemic, have long asked for crypto wallets, which would allow them to participate more broadly in blockchain-based ecosystems, such as buying virtual assets like non-fungible tokens (NTFs) on the Ethereum network.

"This is the natural next step for us when we think about democratising finance for all, being able to have a lot more people from a lot of different contexts participate in this emerging market, and wallets are the key," Aparna Chennapragada, Robinhood's chief product officer, said in an interview.

The company plans to survey its current crypto-trading customers, which make up around 60 per cent of the app's 21.3 million active users, and will pick small group of respondents to begin testing the new wallets and provide feedback, Chennapragada said.

Robinhood customers can also join a waitlist for future access to the wallets as part of a phased rollout, she said.

Crypto concerns


But the announcement comes amid months of volatility on the crypto markets as fears about US regulation mount.

Just this week crypto prices plummeted, with Bitcoin shedding about 7 per cent on Monday, re-sparking the debate on if cryptos should serve as a safe-haven asset.

What are the features of the wallet?


The wallets will include security features such as identity verification, multi-factor authentication, and email and phone verification to keep coins safe from hacks and other threats, the company said.

"One of the things we've been trying to do is make sure that this is built safely, built securely," which was one of the main challenges in developing the new feature, said Chennapragada.

Robinhood said it would maintain 0 per cent commissions for crypto trades once the wallets are launched.

Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
Netanyahu Signals Potential Regime Change in Iran
Juncker Criticizes EU Inaction on Trump Tariffs
EU Proposes Ban on New Russian Gas Contracts
Analysts Warn Iran May Resort to Unconventional Warfare
Iranian Regime Faces Existential Threat Amid Conflict
Energy Infrastructure Becomes War Zone in Middle East
×