Robinhood planning to launch the beta version of the crypto wallet

Coinbase’s biggest rival, Robinhood is planning to launch its beta version of the crypto wallet for its users. 

Robinhood is a popular crypto & Stockbroker platform in the US. The services of this exchange are available in multiple countries like Coinbase exchange. In the US, Robinhood is the biggest rival of the Nasdaq-listed Coinbase exchange. However many things differ between the exchanges but still, both these exchanges are big competitors to each other. 

In the latest, Robinhood company confirmed that they are planning to launch the beta version of the Cryptocurrency wallet. The launch of the wallet may take place in the first month of 2022. 

Through a blog post, Robinhood stated that the developer’s team almost completed their development work and the wallet is ready for Alpha testing users. And after that, through the beta launching, the Company will confirm first the functionality and potential of the wallet by getting better reviews from the users. 

Right now, thousands of Robinhood customers are waiting to use the beta phase of the Robinhood crypto wallet.

Christine Hall Brown, Robinhood COO, said that beta testing features will be allowed for the first 10,000 users only. 

The announcement also confirmed that the Robinhood crypto wallet will have educational contents, multiple crypto wallets support, so that people can store Multiple types of crypto assets easily under a single roof with high-security features. 

Reportedly, Robinhood exchange wants to make clear that Crypto services of Robinhood with zero fees are much better. And also wants to explain to users how much they will face in blockchain network transactions fees. 

Robinhood exchange’s crypto services are limited to its platform. No one user is allowed to transfer or deposit the crypto assets outside the Robinhood exchange. But after the beginning of its crypto wallet, there are chances that Exchange may start its service off-platform transactions. 

Read also: Visa exec explains how Company pushes crypto adoption