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Robinhood launches crypto wallet beta for Bitcoin, Ethereum and Dogecoin



 American financial services giant Robinhood is launching the beta version of its crypto wallet program after months of anticipation.


For months, executives at trading app company Robinhood have been promising that cryptocurrency wallets. Finally, today, Robinhood announced that its beta program has gone live, with plans to scale to 10,000 users by March.


According to Robinhood's official blog post:


“Beta testers help us test core functionality and provide critical feedback that feeds into the final release of the product. During the duration of the beta program, we will finalize the send and receive operations, add a responsive QR scan experience, improve the transaction history interface, and support the block explorer to provide more insight into your on-chain transactions .”


Until now, those trading cryptocurrencies like Bitcoin and Dogecoin through the app have been limited to buying and selling. Now, participating customers can move cryptocurrencies between Robinhood and external crypto wallets, fully connecting the company's crypto owners to the blockchain ecosystem for the first time.


But there are limits: Robinhood has opted for a “safety first” approach to investing in cryptocurrencies. For example, during the beta period, testers are limited to 10 withdrawals totaling no more than $2,999.


Robinhood's finance app, which includes commission-free stock trading, also offers accounts for managing cash and has formerly supported cryptocurrency trading as well. The company has been embroiled in controversy and has drawn the attention of government regulators for making investing "playful" and for playing a big part in last year's GameStop trading fiasco.


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