Robinhood (a U.S.-based trading platform) has reportedly been examining its highly-expected crypto wallet following a growing demand from consumers to have more functionality. A futuristic trading platform is reaching near the launch of its long-awaited application, by which the escalating number of its customers will be capable of sending and receiving cryptocurrencies. As per Bloomberg, the new advancements on the virtual asset aspects have been shown by the iPhone application’s beta version under Robinhood. A hidden image is present in the app, which shows a list of users waiting enthusiastically to utilize the application for making crypto transactions.
Probing more into crypto
Although the clients of Robinhood can still purchase and trade cryptocurrencies through the platform, nonetheless, they require exchanging them from and into the U.S. dollar. With the assistance of this local app, the consumers will be permitted to transact their virtual assets straightly and can enable two-step authentication for an extra level of security. Vlad Tenev, the Chief-Executive-Officer (CEO) of Robinhood, stated that the organization’s developers prioritize the adding of crypto wallets, and a progressive attitude is being observed on their behalf currently. He added that withdrawal and deposit of cryptocurrencies deal with scaling, and the company wants to ensure its proper and correct accomplishment.
No specific detail about the launch had been given by Vlad; nevertheless, the leak of the beta app signifies that it is much near to its launch. The latest added features will require the customers to activate the receiving and sending of crypto along with filling up some information about their identity, as per the report. It was reported on 11th September that such offerings had been launched by Robinhood to advocate long-term investment in cryptocurrency. The consumers are enabled to schedule their purchases of virtual assets for consistent intervals with purchases set at an as low rate as is a dollar.
Robinhood consumers craving for crypto
Crypto trading has long been included in the strongest providers of profits for Robinhood during this year. The most prominent has been Dogecoin as per the company. Approximately $233M in the crypto income of the second quarter has been earned from trading DOGE. The report further disclosed that the cumulative transaction-based revenue’s approximate half had been obtained from crypto-asset trading under the platform. However, the company in advance issued a warning saying that the 3rd quarter would not be as progressive as was the second one because of an overall decrement in the trade throughout the industry.