Popular crypto and stock trading app Robinhood recently announced that its upcoming crypto wallet would have an upcoming beta program this month. The announcement came in the form of a blog post, revealing that the wallet app’s alpha testing phase is finally complete.
Robinhood’s team asked for feedback from “a tight-knit group” of users during that testing phase, who provided comments regarding the app’s functionality and design. Next in line is the app’s beta testing program, which will be open to thousands of users who have chosen to waitlist.
Christine Hall Brown, the company’s cryptocurrency COO, revealed that the feature would be available to many customers.
Features
Robinhood also revealed the expected features in the announcement, including multiple wallets, security features, educational content, and various crypto assets. As for transaction fees, Robinhood plans on differentiating its blockchain fees from its zero-commission services.
As you may or may not know, Robinhood is mainly a stock trading app, but it started allowing users to invest in crypto in 2018. However, the app doesn’t have a native crypto wallet, so users could only withdraw their crypto investments as cash balances. As you can imagine, this limitation was heavily criticized by many of Robinhood’s users.
To remedy the issue, the company announced in September 2021 that it would eventually introduce crypto wallets to the app. The wallet app’s waitlist drew in a million users in only a month. Overall, about 1.6 million users signed up for the waitlist.
At this time, Robinhood has yet to reveal when the final version will be launched to the general public.
