Robinhood Wallet Launches on iOS, Android Support Soon to Come

Robinhood Wallet, which launched its beta version in September, now rolled out full-scale for the one million customers on the waitlist

Robinhood Wallet Launches on iOS, Android Support Soon to Come

Image: unsplash

Trading platform Robinhood has launched the live version of its multi-chain, self-custody, Web3 wallet on Apple’s App Store. The product is now available to iOS users in over 130 countries. The company added the Wallet will get Android support “later this year.”

Robinhood Wallet supports both the Polygon and Ethereum networks, enabling customers to buy, sell and hold 50+ ERC tokens, including newly-added assets USDC, UNI, MATIC and SHIB. The Wallet also lets users connect to a wide range of decentralized applications (dApps).

With a limited-time offer, users can earn up to 5 USDC after transferring $10 of crypto from Robinhood Crypto to their Robinhood Wallets, or 1 USDC after transferring $10 from another wallet or exchange.

Although customers’ feedback over the product’s beta version was overwhelmingly positive, a few upgrades were asked for and finally implemented. They include adding Ethereum blockchain, support for NFTs on both available chains, and connection to dApps.

As for security tools, Robinhood Wallet enables users to set up either Face/Touch ID or a custom PIN for authentication. Additionally, they will create a secret recovery phrase (seed phrase) to access their wallet and crypto.

While Android users are waiting for the launch of the product operating on their devices, they can join the waitlist to be notified when it becomes available. Later this year, the company also plans to launch a Web3 browser, add support for additional coins, and expand in-app rewards program.

Supported tokens can be traded without paying transaction fees, while Robinhood NFTs would also not be subject to Apple’s 30% commission on in-app purchases of digital goods and services.

Web3 projects are still in their nascent stage, yet they offer the potential to create a more equitable and democratized web, providing everyone with equal access to opportunities and abilities to participate in the global economy.

Nina Bobro

1487 Posts 0 Comments

Nina is passionate about financial technologies and environmental issues, reporting on the industry news and the most exciting projects that build their offerings around the intersection of fintech and sustainability.