After a successful conclusion to their alpha test, Robinhood announced their beta release slated for mid-January. The release will be available to tens of thousands of their users.  Covered Robinhood’s Crypto Wallets Beta Phase Announced Robinhood’s Crypto Wallets Plan Of Action Summary Robinhood’s Crypto Wallets Beta Phase Announced Today, the stock and crypto exchange Robinhood […] The post Robinhood Launching Beta Crypto Wallets In Mid January appeared first on CryptosRus.

Robinhood Launching Beta Crypto Wallets In Mid January

After a successful conclusion to their alpha test, Robinhood announced their beta release slated for mid-January. The release will be available to tens of thousands of their users. 

Covered

  • Robinhood’s Crypto Wallets Beta Phase Announced
  • Robinhood’s Crypto Wallets Plan Of Action Summary

Robinhood’s Crypto Wallets Beta Phase Announced

Today, the stock and crypto exchange Robinhood announced via a blog post that they will launch the beta phase of their crypto wallets in mid-January. The beta will go live to tens of thousands of customers that presumably were already on their waitlist of over 1.6 million people (you can join here).  Christine Brown, the COO of crypto for Robinhood, announced the news to her followers, which spurred the official Robinhood Twitter handle to spread the word.

 

Although it may seem like an eternity for Robinhood users waiting for their crypto wallets— Robinhood is prioritizing crypto education and security for their customers and believe they will play a significant role in the “cryptosphere”:

“While some say 2021 is the year that crypto went mainstream, the truth is that most people are still familiarizing themselves with the asset class and how to navigate the blockchain. With the launch of wallets, we’re thrilled to play a significant role in welcoming a broad range of investors to the cryptosphere for the very first time.”

Recommended: Is Robinhood Finally Giving Their Users Crypto Wallets? 

Robinhood’s Crypto Wallets Plan Of Action Summary

Robinhood deemed the alpha phase of their crypto wallets a success. They only released the wallets to a select few, and the exchange company worked with them closely to understand the pros and cons of the wallet. The “tight-knit” group of customers for the alpha phase wallets provided feedback on the design and functionality of the wallets.

Specifically, they are concerned with the education of crypto, security of their customers digital assets, and clarity on gas/network fees. For education, Robinhood will have a dedicated section to crypto on their educational investing website, and their 24/7 customer service line will help resolve any issues. To help secure customers digital assets, they will include multi-factor authentication within their app. Lastly, they want to be clear about network fees on-chain with their customers. In other words, Robinhood will remain commission free, but it will not be held responsible for Ethereum’s high gas prices.

Robinhood made their first Dogecoin transfer to an external wallet during the Alpha phase.

There will be additional news about Robinhood’s crypto wallets beta phase in “the coming weeks”. Stay tuned.

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