Robinhood Ready to Roll Out Beta Phase of Its Wallet in January 2022

Aiswarya Gopan•Thursday, December 30, 2021•1 min read

Leading crypto and stock trading app Robinhood is all set to roll out its very own cryptocurrency wallet to users starting next month. The beta version of the wallet will allow tens of thousands of the app’s users to start withdrawing their crypto holdings from its platform.

In a latest blog update posted by Robinhood during the previous session, the company confirmed the end of the alpha phase of its wallet’s development. The alpha phase saw the firm test out the wallet on a small group of customers who had signed up for availing the service and taking feedback based on their experience on its design and functionality.

The beta phase of the project will begin by mid of January 2022, offering this service to more customers. Although, Robinhood has not shared any information yet on how long the beta phase will last and when the full rollout of its wallet will occur.

Since announcing the wallet feature, Robinhood received interest from 30 million of its users for this service in less than 30 days. So far, 1.6 million users have joined the waitlist for the crypto wallet.

Robinhood’s crypto wallet will offer a high level of security with multi-factor authentication and transaction checks to ensure a convenient and safe experience to its users. The app will also endeavor to bring in more transparency regarding transaction fees for each network at the time of transfer.

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ABOUT THE AUTHOR See More

Aiswarya Gopan

Financial Writer & Editor - Asia & Europe Desk

Aiswarya Gopan is a former cybersecurity analyst, tech journalist and market researcher, who joins FX Leaders with over three years of experience in the blockchain industry. Aiswarya's areas of focus include market news out of the Asian and European markets as well as news coverage on cryptocurrencies.