In order to satisfy the expectations of its expanding user base, Robinhood Wallet, the well-known multi-chain, self-custody, Web3 wallet, has added additional functionality. Due to customer requests, Robinhood Wallet now accepts Bitcoin (BTC) and Dogecoin (DOGE), enabling users to store, transmit, and receive these coins.
Select users now have access to more than 200 tokens for trading thanks to the platform’s implementation of on-app swaps on the Ethereum (ETH) network.
Robinhood Wallet Increases Support for Crypto
In order to provide customers more alternatives within the wallet, support for Bitcoin and Dogecoin has been added. Since its general release six months ago, Robinhood Wallet has experienced widespread popularity, drawing hundreds of users from more than 140 nations.
According to the study, users may now easily participate in decentralized finance (DeFi) without having to keep Ethereum in their wallets thanks to the recent launch of in-app Ethereum swaps on Robinhood Wallet. Instead, users’ existing tokens will instantly be removed from network costs, making the exchanging procedure easier and decreasing entrance barriers.
General Manager of Robinhood Crypto Johann Kerbrat emphasized the firm’s dedication to improving the DeFi experience and increasing support for several networks and coins. According to Kerbrat, Robinhood Wallet’s user-friendly interface and robust functionality are intended to make Web3 technology available to a larger audience.
The current version of Robinhood Wallet allows users can own, transmit, and receive cryptocurrency across different chains by supporting the Arbitrum (ARB), Bitcoin, Ethereum, Dogecoin, Optimism (OP), and Polygon (MATIC) networks.
Additionally, the wallet enables cryptocurrency trading on the Polygon and Ethereum networks, letting users connect to a variety of decentralized applications (dapps).
Robinhood Wallet guarantees that only users own and maintain the private keys to their cryptocurrencies by giving them total control over their assets.
Robinhood Connect and the Fiat Onramp?
The usefulness of the wallet is further improved by a Web3 browser since it allows for direct connection to decentralized programs.
Following the addition of Polygon, Arbitrum, and Optimism, and with intentions to spread access to more Layer 2 chains according on user demand, Robinhood Wallet intends to continue extending its network support, according to the statement published on August 30.
Through Robinhood Connect, Robinhood Wallet now provides a fiat onramp for customers in the US, enabling qualified users to buy or transfer cryptocurrency directly from the wallet.
By adding learning rewards to its existing rewards program, the site now allows users to earn USDC for completing instructional sessions.
However, users must set up biometric authentication or a personalized PIN in order to use the app. Additionally, they are told to come up with a private recovery phrase that will give them access to their wallet and cryptocurrency assets.
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