Robinhood has announced that the next phase of its Wallets program is now live.
With the Beta program in effect, the online trading platform will begin rolling out crypto Wallets to 1,000 customers from the waitlist. Robinhood announced that by March it will expand the program to 10,000 customers before rolling out to the rest of the WenWallets waitlist.
Robinhood highlighted this as the second major milestone in its Wallets rollout. With this step, its customers will be able to send and receive crypto from Robinhood to external crypto wallets. For the first time, Robinhood crypto holders will be connected to the greater blockchain ecosystem.
The Beta program
Beta testers will help the company test core functionality and give feedback which will help reach the final version of the product. During the Beta program stage of the project, Robinhood will finalize the send and receive flows, add QR scanning functionality, improve the transaction history interface, and add block explorer support to provide more insights into its on-chain transactions.
Customers will also have the ability to calculate the dollar amount of crypto to send/receive in terms of dollar amounts. Beta testers will be limited to $2999 of withdrawals and 10 transactions. They will also need to enable two-factor authentication.
The official announcement stated:
Connecting millions of Robinhood customers to the blockchain ecosystem in a safe, accessible setting is a massive undertaking. We take this responsibility seriously, which is why we’re rolling out wallets methodically, consistent with our “Safety First” value. We’ve built world-class security integrations to monitor all transactions, ensuring that customers are able to both safely invest and transfer their crypto.
Experienced writer and journalist, working in the global online trading sector, Steffy is the Editor of LeapRate. She has previous experience as a copywriter and has been with the company since January 2020. Steffy has a British and American Studies degree from St. Kliment Ochridski University in Sofia.