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Popular retail brokerage platform Robinhood Markets Inc <\/strong>HOOD<\/span> has rolled out its cryptocurrency wallet to nearly two million users.<\/p>\n What Happened: <\/strong>In an announcement<\/a> at the Bitcoin 2022 Conference in Miami on Thursday, Robinhood Chief Product Officer Aparna Chennapragada<\/strong> said that all the people on the WenWallets<\/strong> waitlist now had access to its digital wallet.<\/p>\n Due to local regulations, the cryptocurrency wallet will not be available to users in Hawaii, Nevada, or New York.<\/p>\n
<\/p>\n This means customers have full access to their crypto to use it how they like \u2014tipping on social media, paying for NFTs and more\u2026 with zero commission-fees 👀\ufffd<\/p>\n
Chennapragada also said that the company was working towards integrating the Bitcoin Lightning Network so that customers can send and receive BTC in seconds \u201cfor pennies instead of dollars.\u201d<\/p>\n The wallet rollout means that customers will finally be able to move their Bitcoin <\/strong>BTC\/USD<\/span>, Ethereum <\/strong>ETH\/USD<\/span>, and Dogecoin <\/strong>DOGE\/USD<\/span> off Robinhood to self-custody or to spend elsewhere.<\/p>\n See Also: Mark Cuban Calls Robinhood’s Dogecoin Withdrawal Policy ‘Greatest Inhibitor To Growth’<\/a><\/em><\/p>\n
<\/p>\n I had been screaming that #Robinhood<\/a> wallet will come in April followed by #Shib<\/a> listing – step one is done @DelCrxpto<\/a> pic.twitter.com\/0zqeUKDUWw<\/a><\/p>\n
The wallet, however, is\u00a0somewhat limited in terms of functionality. It does not support ERC-20 tokens or Ethereum-based NFTs.<\/p>\n Some popular ERC-20 tokens include Shiba Inu<\/strong>, Uniswap<\/strong>, and Decentraland<\/strong>.<\/p>\n \u201cAny unsupported coins sent to your Robinhood account may be lost and the transactions are irreversible,\u201d read the FAQ page<\/a>.<\/p>\n \u201cThis includes ERC-20 tokens sent to a Robinhood Ethereum address.\u201d<\/p>\n Outbound crypto transfers have also been capped at $5,000 per day with a daily total of 10 transfers.<\/p>\n The wallet also doesn\u2019t support airdrop tokens, forked coins, or initial coin offering (ICO) tokens.<\/p>\n Price Action: <\/strong>According to data from Benzinga Pro<\/a>, Bitcoin was trading at $43,611, up 0.63% in the last 24 hours.<\/p>\n Robinhood shares closed 3.52% lower on Thursday at a price of $12.07.<\/p>\n
\n\u2014 Aparna Chennapragada (@aparnacd) April 7, 2022<\/a><\/p><\/blockquote>\n
\n\u2014 Krypto Wolf (#BURNLY #BURNSQUAD) (@krypto__wolf) April 6, 2022<\/a><\/p><\/blockquote>\n