Robinhood is quietly testing cryptocurrency wallets and transfer functions


According to a Bloomberg story, Robinhood, a zero-commission financial trading website, is quietly testing new crypto wallet capabilities for its consumers, allowing them to transfer and receive bitcoins.

According to reports, Robinhood customers may now only acquire cryptocurrencies and trade digital assets on the site using US dollars, but they cannot withdraw the encrypted assets.

This is the first time the firm has made deposit and withdrawal options available for digital assets such as Bitcoin (BTC).

Bloomberg stated that the company’s development on such capabilities is reflected in the beta version of the program on its IOS system. There’s also a concealed image of the waiting list page for people to register for the encrypted wallet feature. It also includes programming related to bitcoin asset transfers.

Adding a crypto wallet is the top goal of the company’s developers, according to Robinhood CEO Vlad Tenev, who stated during the company’s second-quarter earnings conference call:

“It’s something that our teams are working on. The ability to deposit and withdraw cryptocurrencies is tricky to do with scale, and we want to make sure it’s done correctly and properly.”

Customers may now invest in cryptocurrencies daily, weekly, or monthly using Robinhood Markets Inc.‘s new cryptocurrency recurring investing tool.

Customers will acquire bitcoin commission-free and with as little as $1 worth of cryptocurrency of their choice monthly, weekly, or even daily using the new service.


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