Financial services behemoth According to Robinhood, it is preparing to offer cryptocurrency wallets to its customers.
According to a new blog post, users will be able to test buying, sending, and receiving all cryptocurrencies supported by Robinhood beginning next month.
“The first customers on Robinhood will begin testing crypto wallets [next month].” We’ll share their experiences and feedback on our blog and on Twitter on a regular basis, so you can follow along and get an inside look at what we’re working on.
Following that, we will continue to expand access to more and more customers via our waitlist.”
The announcement follows the investment firm’s recent introduction of commission-free cryptocurrency investing, which allows traders to automatically purchase supported coins on a schedule of their choosing for as little as $1 without incurring any commission fees.
“We’ve introduced [commission-free crypto investing] to assist [users] in focusing on long-term growth, reducing risk, and reducing the stress of market timing.
With other platforms charging as much as 4% on each trade, this type of practical investing strategy is only available on Robinhood.”
Robinhood currently supports the following cryptocurrencies: Bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin SV (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum Classic (ETC), and Litecoin (LTC).