Starting next month, the company said in a blog post, a small group of Robinhood clients will begin testing the wallets in a trial run and there is a waitlist for folks who want to give it a try themselves as access is incrementally expanded.
Ticker Security Last Change Change % HOOD ROBINHOOD MARKETS, INC. 46.88 +4.59 +10.85%
Robinhood founders Baiju Bhatt and Vladimir Tenev (Photo courtesy of Robinhood) (Robinhood)
"With wallets, you’ll be able to transfer crypto so you can use $ETH to buy that NFT you’ve been eying, use #bitcoin to buy some coffee, send DOGE to a friend, or move supported crypto from your own wallet to your Robinhood Crypto account for commission-free trading," Robinhood crypto COO Christine Brown explained in a tweet.
The company and Brown both signaled that the new crypto wallets come after countless requests from customers who have been pleading for the feature.
"What took us so long?" Brown added. "We want to make sure that transferring crypto on Robinhood is safe, secure, and simple. Many people will be transacting on-chain for the first time and keeping your coins safe is our #1 priority."
The COO went on to note that as of Wednesday, Robinhood customers now have the option of setting up recurring crypto investments, allowing the ability to purchase coins – or fractions of them – on a schedule without paying any commission fees.