After an extended stretch of solely providing Polygon (MATIC) in its Web3 pockets, Robinhood shocks the crypto house with its announcement that it’s including two distinguished cryptocurrencies, Bitcoin and Dogecoin, into its pockets choices.
Dogecoin And Bitcoin Now Available On Robinhood Wallet
California-based monetary providers firm Robinhood has introduced its new itemizing of Dogecoin and Bitcoin in its self-custodial Web3 pockets, Robinhood Wallet.
The press release comes as an exciting shock for cryptocurrency traders, as customers can now have entry to BTC and DOGE tokens via their Robinhood wallets.
Responding to its customers’ pleas, Robinhood Wallet revealed that it was including Bitcoin and Dogecoin blockchains, which suggests it now helps a complete of six blockchain networks, together with Polygon, Optimism, Ethereum, and Arbitrium.
The monetary providers agency has additionally launched a Web3 Browser which is able to permit its customers to hyperlink their wallets on to decentralized purposes (dApps).
Christine Brown, Robinhood’s Head of Crypto spoke enthusiastically on the newly added tokens within the Robinhood Wallet. She said that the 2 tokens had been one of the crucial distinguished cryptocurrencies within the house and the monetary providers agency seems ahead to its customers to profit from buying and selling and investing within the newly listed cryptocurrencies.
“We’re excited to add Bitcoin and Dogecoin to Robinhood Wallet. These are two of the most popular cryptocurrencies in the world, and we’re glad to give our users the ability to store, send, and receive them,” Brown said.
Robinhood Crypto GM, Johann Kerbat additionally welcomed the brand new addition to the Robinhood pockets. He said that the Robinhood pockets goals to facilitate adoption and cut back the challenges confronted by the DeFi ecosystem.
He defined that Robinhood will proceed to fulfill its person’s wants because it advances and improves its platform with extra distinctive options.
“With Robinhood Wallet, we stripped away many of the complexities of DeFi and the broader Web3 ecosystem, and reduced some of the challenges and barriers to entry for everyday people,” Kerbat stated.
He added, “We’ve been really encouraged by the adoption so far, and are excited to keep building for our customers around the world as we ship new features and expand support for new networks and tokens.”
HOOD inventory worth sitting above $11 | Source: Robinhood Markets, Inc. on Tradingview.com
Robinhood Wallet Adoption Poised For Increase Following In-App Ethereum Swap Feature
Earlier in 2022, Robinhood launched a beta model of its crypto pockets and the demand for the pockets was staggering, with over 2 million users on the waitlist. Currently, the Robinhood Wallet boasts lots of of 1000’s of customers based mostly in additional than 120 international locations across the globe.
The Robinhood Wallet shall be providing in-app swaps on Ethereum for chosen customers, permitting them to commerce their ETH for over 200 completely different ERC-20 tokens out there on the platform. The pockets is at present out there for all customers within the United States.
In a weblog put up, Robinhood described the brand new Ethereum swapping characteristic now out there on its Robinhood Wallet, saying:
“Unlike other wallets, users can swap without holding Ethereum, and network fees are automatically deducted from the tokens they already hold, making it easier for everyone to get started and use DeFi.”
The Robinhood Wallet is available for iOS users to commerce and swap cryptocurrencies. The monetary providers firm additionally beforehand listed USDC, its first stablecoin, in its portfolio, doubtlessly closing the hole with the stablecoin’s main competitor, USDT.
Featured picture from PYMNTS, chart from Tradingview.com
