Robinhood cryptocurrency beta wallet to launch in January next year, HOOD has fallen 80% since August

The Robinhood online brokerage platform plans to announce a beta of its digital wallet in mid-January 2022. This allows users to deposit and withdraw cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin.

According to an article published by Robinhood on the 29th, the cryptocurrency wallet service announced in September ends the alpha test phase on November 22nd, and the beta test phase. The waitlist takes less than 30 days to register up to 1 million users. Currently, more than 1.6 million users have requested the portfolio measurement.

Robinhood COO Christine Brown tweeted on the 29th that the beta will focus on user safety, educate users about cryptocurrency trading, and improve network transparency and commission rates.

“The crypto wallet allows us to connect millions of Robinhood users to the blockchain. It's a new experience for some users. At this point we will decide if the wallet comes in. It's easy to build. I will really go. do it. "

Brown added that the beta of the crypto wallet will pass the waiting list in mid-January and be open to users for testing and use: for beta testing against small scale and 1: 1 interference. the alpha version. extends hundreds of thousands of users.

The article also pointed out that the cryptocurrency market on the Robinhood platform has yet to be paid for, but if you trade on the blockchain you will need to pay a fee, and the price will change depending on the network. Thus, the tester presents the data exchange to the users in a more convenient and understandable way.

Robinhood has said that 2021 will finally be the year when cryptocurrencies become a big asset, but in fact, most users are still familiar with this asset and understand the concept of blockchain at this point.

“With the announcement of the cryptocurrency wallet, we are delighted to play a key role in entering the cryptocurrency space into the marketplace.”

lost after registration

Despite news of the wallet app being announced, it looks like it cannot support Robinhood, the price is still dropping. Nasdaq's Robin Hood (NASDAQ: HOOD) was announced last July. The HOOD closing price is $ 17. It has fallen 80% since August. %.