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Robinhood crypto wallet waitlist hits 1 million people

Trading platform Robinhood

October 23, 2021

Reading Time: 2 minutes

Robinhood’s crypto wallet is proving to be a very demanded and anticipated feature. Speaking on CNBC’s Disruptor 50 summit, Robinhood CEO Vlad Tenev revealed that the wallet’s waitlist now has 1 million people.

Robinhood Users to Send and Receive Crypto With New Wallet Feature

It seems that a lot of people are yearning for the advantages the crypto wallet promises to offer. Trading platform Robinhood announced the launch of the crypto wallet back in September. A representative of the trading platform revealed that the wallet feature will roll out to some users this month, and eventually to the rest in early 2022.

According to CEO Tenev, users will be able to send and receive cryptocurrencies, as well as move to hardware wallets and transfer them to the platform for consolidation.

The demand for the Robinhood’s crypto wallet stems from the current limitations of the platform. Presently, Robinhood users cannot deposit or withdraw. The only way users can purchase crypto is by US dollars. Additionally, trading of the digital assets bought is limited to only within the platform.

Speaking on the impending launch, Robinhood CEO Vlad Tenev expressed the advantages that the wallet will offer. He stated that by default, the technology of the wallet will make Robinhood global and accessible, which is something very interesting.

Tenev also mentioned what a value cryptocurrency has been to Robinhood. In his words, cryptos are “here to stay as an asset class.”

Starting with Bitcoin and Ethereum back in 2018 in only five states in the United States, Robinhood has expanded its digital coins to a total of seven including Dogecoin and Litecoin and now trades in all states. Moreover, customers from all the states except four can access Robinhood’s commission-free crypto trading services.

A Shiba Inu Listing?

Apart from the wallet waitlist, Tenev also touched on the hot topic of whether Robinhood would list Shiba Inu. The CEO explained that trading platform Robinhood has a strict criterion for listing, which ensures that the content added is safe for users. Going with this response, Shiba Inu fans should not be holding their breath for a listing.

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