Robinhood Will Start Testing Crypto Wallets Next Month (engadget.com) 16
Robinhood plans to start a cryptocurrency wallet next month, the company announced on Wednesday. Engadget reports: The tool will allow you to send and receive digital currencies, as well as trade them and move them off the app. If you want to take part in the test, you'll need to join a waitlist. Robinhood plans to trial the feature with a small number of users first before expanding availability to more people gradually.
The company told The Verge it expects everyone will have access to their own wallet sometime in 2022. In the meantime, you can see progress on the wallet by following Robinhood's Twitter account and blog. The company promised to share whatever feedback early users provide on the product with the community. Initially, the wallet will support Bitcoin, Ethereum and even Dogecoin. The wallet will use a custodial system, which means Robinhood will manage the keys you need to unlock it. That said, you'll have the option to move your cryptocurrencies to other platforms should you so choose.
The company told The Verge it expects everyone will have access to their own wallet sometime in 2022. In the meantime, you can see progress on the wallet by following Robinhood's Twitter account and blog. The company promised to share whatever feedback early users provide on the product with the community. Initially, the wallet will support Bitcoin, Ethereum and even Dogecoin. The wallet will use a custodial system, which means Robinhood will manage the keys you need to unlock it. That said, you'll have the option to move your cryptocurrencies to other platforms should you so choose.
will they lock you out when an dump starts so that (Score:2)
will they lock you out when an dump starts so that you can't get out fast?
Re: (Score:3)
will they lock you out when an dump starts so that you can't get out fast?
No of course not!*
*Terms and conditions apply. Mainly ones that screw you over, every time. If we win, we do, if somehow you win then somehow you don’t and we do. We barely hung onto our brokerage license last time, this time won’t be better.
Re: (Score:2)
Of course not. They would never decide to restrict their users ability to trade while other organisations can trade freely. How could we think they might do such a thing? Oh, wait... https://www.cnbc.com/2021/01/2... [cnbc.com]
Borrow from the rich, give to... (Score:2)
Robin...hood. Should be interesting seeing how things will end up flowing.
No crypto for me (Score:1)
/. clearly has a vested interest (Score:1)
Not sure why Slashdot posts about it so much.
Because Slashdot clearly has a vested interest [ibb.co] in it.
Re: (Score:2)
That is not an unpopular opinion in the comment section of Slashdot. I happen to think Bitcoin and ethereum have potential. But most of the rest appear to miss the point and lack market capitalization, so I don't see them taking off. I don't think the world is going to end up using more than a small number of cryptocurrencies (maybe none...).
But from what I have seen in the comments, the prevailing opinion is that all cryptocurrencies are a scam and/or bitcoin is environmentally unconscionable due to its ca
Don't touch it (Score:2)
Re: (Score:2)
It's "worthless", except if you had 1 Bitcoin, you could trade it for $62,000? I mean, $50,000? I mean, $42,000? I mean, $43,000?
Sounds exactly like stonks to me.
Sign me up! (Score:2)
Sign me up! I want to help beta test the crypto-money wallet! If someone finds a way to steal my crypto-money due to a bug in the software or hardware, robin hood will be issuing full refunds, right? Right?
With a name like that (Score:2)
What could possibly go wrong with that? (Score:2)
The people who brought the addictive design of a fixed-odds betting terminal to stock trading will now addict their users to an even more
opaque and manipulated market in items with no underlying value at all.
What could possibly go wrong with that?