Robinhood Software Wallet Launched on iOS
Software wallet Robinhood launched a beta version in September last year and is now moving to a full version for iOS devices, delighting the 1 million users on the waiting list.
The Web 3.0 wallet from the commerce platform Robinhood has launched in the App Store and is free to download for iOS users in over 130 countries. The company came out with the news on March 1 and said that users on the waiting list already have access to this new multi-chain self-service wallet. Further, the company added that the app for Android devices would be released "later in 2023".
Since September 2023, when the company released the beta version of Robinhood Wallet and integrated Ethereum, it has added more than 50 ERC tokens that can be bought, sold, and held through the self-service wallet. Among the tokens already supported are USDC, UNI, and MATIC.
The most significant advantage of the app is that users can trade tokens without transaction fees and use them to interact with various DApps (Decentralized Applications).
Johann Kerbrat, CEO of Robinhood Crypto, said that the support for Ethereum and ERC-20 tokens is a response to customers wanting access to more coins and tokens on multiple chains.
The Robinhood wallet allows users to collect and store their favorite collectible NFTs on Ethereum and Polygon. According to a company spokesperson, Robinhood NFTs will not be subject to the 30% commission Apple charges on in-app and in-app purchases of digital goods and services.
The wallet is completely self-service; however, to ensure user security, many security methods are integrated that users can use to authenticate.
"Before actually using the app, users must set up either Face/Touch ID or a custom PIN that will be required each time they open the app. They will also be asked to create a secret recovery phrase, also known as a seed phrase, which will give them access to their wallet and cryptocurrencies."
The company also recommended that users back up their wallet by writing it down, storing it offline, or in some other secure way to increase protection against misuse.
Some disagree with Robinhood's wallet security mechanisms. A post appeared on Reddit from user "StamInBlack," who doesn't like the ability to store seed phrases on iCloud.
Despite some judgmental comments, there is more positive feedback on the Robinhood wallet, according to Kerbrat.
The wallet's release came two days after Robinhood Markets disclosed in a 10-K that it was subpoenaed by the United States Securities and Exchange Commission (SEC) in December to investigate its cryptocurrency trading, custody, and platform operations.
Source: cointelegraph.com
analyst opinion
Jakub Odvářka
The Web 3.0 wallet from the commerce platform Robinhood has launched in the App Store and is free to download for iOS users in over 130 countries. The company came out with the news on March 1 and said that users on the waiting list already have access to this new multi-chain self-service wallet. Further, the company added that the app for Android devices would be released "later in 2023".
Since September 2023, when the company released the beta version of Robinhood Wallet and integrated Ethereum, it has added more than 50 ERC tokens that can be bought, sold, and held through the self-service wallet. Among the tokens already supported are USDC, UNI, and MATIC.
The most significant advantage of the app is that users can trade tokens without transaction fees and use them to interact with various DApps (Decentralized Applications).
Johann Kerbrat, CEO of Robinhood Crypto, said that the support for Ethereum and ERC-20 tokens is a response to customers wanting access to more coins and tokens on multiple chains.
The Robinhood wallet allows users to collect and store their favorite collectible NFTs on Ethereum and Polygon. According to a company spokesperson, Robinhood NFTs will not be subject to the 30% commission Apple charges on in-app and in-app purchases of digital goods and services.
The wallet is completely self-service; however, to ensure user security, many security methods are integrated that users can use to authenticate.
"Before actually using the app, users must set up either Face/Touch ID or a custom PIN that will be required each time they open the app. They will also be asked to create a secret recovery phrase, also known as a seed phrase, which will give them access to their wallet and cryptocurrencies."
The company also recommended that users back up their wallet by writing it down, storing it offline, or in some other secure way to increase protection against misuse.
Some disagree with Robinhood's wallet security mechanisms. A post appeared on Reddit from user "StamInBlack," who doesn't like the ability to store seed phrases on iCloud.
Despite some judgmental comments, there is more positive feedback on the Robinhood wallet, according to Kerbrat.
The wallet's release came two days after Robinhood Markets disclosed in a 10-K that it was subpoenaed by the United States Securities and Exchange Commission (SEC) in December to investigate its cryptocurrency trading, custody, and platform operations.
Source: cointelegraph.com
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