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Robinhood to launch cryptocurrency wallets as bitcoin becomes bigger



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 3 weeks ago '10        #1
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Shhon 
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Robinhood to launch cryptocurrency wallets as bitcoin becomes bigger
 

 
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visit this link https://www.cnbc.com/2021 .. -business.html

Robinhood is debuting a feature that gives traders more control over digital tokens in its latest expansion in the cryptocurrency space.

The newly public brokerage is testing “crypto wallets” with select clients next month, the company announced in a blog post Wednesday. The so-called wallet will allow investors to trade, send and receive digital currencies, as well as move them in and out of the Robinhood app.

Shares of Robinhood rose 5% on Wednesday.

In recent months, some users — particularly Dogecoin traders — have taken to social media to complain that by using Robinhood as their broker, they had exposure to crypto prices but not actual ownership of the coins themselves.

“We’re not first to the market — we’ve been taking our time to make sure that we build this in a phased approach,” Robinhood’s chief product officer Aparna Chennapragada told CNBC in a phone interview. “We’ll have a few customers come in, iterate on the product, get the customer feedback and then expand from there.”

Certain clients will begin testing the product and Robinhood will share their feedback over its blog and Twitter, said Chennapragada, who spent 12 years at Google leading product, engineering and design teams before joining Robinhood. The rollout will eventually allow clients on a waitlist to join.

Robinhood’s growing crypto business
The start-up debuted cryptocurrency trading three years ago but it has become increasingly important to the company’s top line. Last quarter, more than half of Robinhood’s transaction-based revenue came from cryptocurrency trading, up from just 3% a year earlier.

The new wallets will let clients to consolidate their digital coins into one account. Clients can then trade, send and receive cryptocurrencies to and from other wallet addresses. Rivals Coinbase and Gemini already offer this feature. Bloomberg News first reported Robinhood’s plan to roll out this feature in a beta version of the trading app.

Bitcoin and other cryptocurrencies have seen sharp volatility since bitcoin’s all-time high in April amid more concerns about regulation.

Cryptocurrencies took a dive alongside the broader market on Monday, with bitcoin ending the day about 7% lower. The slide resurfaced the debate about whether bitcoin can or should serve as a safe-haven a*set. In more recent years, bitcoin has shown more of a tendency to dip with the broader markets.


Robinhood also said a new feature that allows the set-up of recurring crypto investments is live on the app on Wednesday. Clients can schedule a crypto purchase, commission free, for as low as $1.

The broker’s move comes as cryptocurrencies are under more scrutiny from the Securities and Exchange Commission, particularly Chairman Gary Gensler. Last week, Gensler a*sured lawmakers that Wall Street’s top regulator is working overtime to create a set of rules to oversee the volatile cryptocurrency markets, while balancing the interests of American innovators.

“Currently, we just don’t have enough investor protection in crypto finance, issuance, trading, or lending,” Gensler said in prepared remarks to the Senate Banking Committee. “Frankly, at this time, it’s more like the Wild West or the old world of ‘buyer beware’ that existed before the securities laws were enacted.”

Robinhood said the crypto wallets will have several safety features including identity verification, multi-factor authentication, and email and phone verification to keep coins safe from hackers.

“We are completely aligned with our regulators and the SEC to make sure that we are working on this with educational tools, with protection with safety. That’s great for customers that’s great for us,” Chennapragada said.
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24 comments
 

 3 weeks ago '21        #2
nocomment  topics gone triple plat - Number 1 spot x1
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fu*k robinhood, and if you fu*k with then you're begging to get fu*ked
+7   

 3 weeks ago '05        #3
R4P 
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b-b-but I was told to sell last week because it was all going to 0!!!!


+5   

 3 weeks ago '21        #4
Keithf87 
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Big move if its erc-20 and/or bep-20 and you can get from the crypto game to the stock game in one account. Then HOOD got my attention....

+3   

 3 weeks ago '10        #5
Shhon  OP
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 Keithf87 said
Big move if its erc-20 and/or bep-20 and you can get from the crypto game to the stock game in one account. Then HOOD got my attention....

+3   

 3 weeks ago '21        #6
nocomment  topics gone triple plat - Number 1 spot x1
Props total: 7195 7 K  Slaps total: 1263 1 K
 Keithf87 said
Big move if its erc-20 and/or bep-20 and you can get from the crypto game to the stock game in one account. Then HOOD got my attention....

 Shhon said
using robinhood is beyond foolish, you get what you ask for.
+1   

 3 weeks ago '10        #7
Shhon  OP
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 3 weeks ago '21        #8
Keithf87 
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 nocomment said
using robinhood is beyond foolish, you get what you ask for.



*me checking it out in the morning....lol.

I know, I know. Robinhood is Rat poison˛.
+1   

 3 weeks ago '21        #9
nocomment  topics gone triple plat - Number 1 spot x1
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 Keithf87 said


*me checking it out in the morning....lol.

I know, I know. Robinhood is Rat poison˛.
it really is

I mean


fool me once, shame on, shame on you, you fool me can't get fooled again
+1   

 3 weeks ago '21        #10
Keithf87 
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 nocomment said
it really is

I mean


fool me once, shame on, shame on you, you fool me can't get fooled again


+2   

 3 weeks ago '04        #11
biscuit 
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fu*k Robin Hood
+2   

 3 weeks ago '14        #12
strungout  topics gone triple plat - Number 1 spot x5
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 Keithf87 said
Big move if its erc-20 and/or bep-20 and you can get from the crypto game to the stock game in one account. Then HOOD got my attention....

You still bullish on alchemy pay ?

 3 weeks ago '16        #13
lilh305 
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 3 weeks ago '21        #14
Keithf87 
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 strungout said
You still bullish on alchemy pay ?
Nah, I took profit. I believe in it, just needs more time.

 3 weeks ago '15        #15
edub911 
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fu*k china
+2   

 3 weeks ago '19        #16
GT33D3e  topics gone triple plat - Number 1 spot x1
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If they do a wallet/marketplace for NFT`s then we talking. Imagine flipping an NFT and applying funds immediately to stocks.
+2   

 3 weeks ago '14        #17
strungout  topics gone triple plat - Number 1 spot x5
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 Keithf87 said
Nah, I took profit. I believe in it, just needs more time.
Maaaaaaaaan


I feel you though
+2   

 3 weeks ago '14        #18
strungout  topics gone triple plat - Number 1 spot x5
Props total: 151559 151 K  Slaps total: 34906 34 K
 R4P said
b-b-but I was told to sell last week because it was all going to 0!!!!


It still is
-1   

 3 weeks ago '05        #19
R4P 
Props total: 5832 5 K  Slaps total: 581 581
 strungout said
It still is
how many years you gon keep this up?
-1   

 3 weeks ago '14        #20
strungout  topics gone triple plat - Number 1 spot x5
Props total: 151559 151 K  Slaps total: 34906 34 K
 R4P said
how many years you gon keep this up?
Keep what up? Eth is at 2,920.32

What happens when Satoshi decides to dump ???
-1   

 3 weeks ago '05        #21
R4P 
Props total: 5832 5 K  Slaps total: 581 581
 strungout said
Keep what up? Eth is at 2,920.32

What happens when Satoshi decides to dump ???
you live in fairy tales n*gga i reject your deposit
-1   

 3 weeks ago '14        #22
strungout  topics gone triple plat - Number 1 spot x5
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 R4P said
you live in fairy tales n*gga i reject your deposit
Ok

 3 weeks ago '10        #23
Shhon  OP
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 3 weeks ago '10        #24
Shhon  OP
Props total: 48393 48 K  Slaps total: 4418 4 K
2022?

I was thinking next week if I'm only #131k on the waitlist
+1   

 3 weeks ago '20        #25
one2remember3 
Props total: 6377 6 K  Slaps total: 758 758
do yall remember when we were kids and young adults and we would say fu*k something just to say it. like xbox or ps. well as real adults we cant do that or we stay broke and dumb. so like bro said. if they ever go erc-20 and bep-20 id put money back to stock after the bear season ends.

but what is astounding and proof yall n*ggas dont research about your money proactively is how high all your waiting list numbers are


Last edited by one2remember3; 09-26-2021 at 11:14 AM..



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