Trading platform Robinhood has launched its Web3 wallet on Apple\u2019s App Store, becoming available to iOS users in over 130 countries.<\/p>\n
Robinhood shared<\/a> the news in a March 1 post, stating that users would no longer need to sit on a waitlist to access the new multichain self-custody wallet. Robinhood added that the wallet will come to on Android \u201clater this year.\u201d<\/p>\n #RobinhoodWallet<\/a> is now available to everyone with iOS: https:\/\/t.co\/yUdL8jCgJN<\/a> pic.twitter.com\/q7RIWBJUIT<\/a><\/p>\n \u2014 Johann Kerbrat (@JohannKerbrat) March 1, 2023<\/a><\/p><\/blockquote>\n Since the beta launch of the Robinhood Wallet in September,<\/a> the trading platform integrated Ethereum \u2014 in addition to already supporting Polygon \u2014 and added 50+ ERC tokens that can be bought, sold and held on the self-custody wallet. <\/p>\n Among the tokens now supported include USDC (USDC)<\/a>,\u00a0UNI (UNI)<\/a>, MATIC, (MATIC<\/a>) and SHIB (SHIB<\/a>)<\/p>\n These tokens can be traded without paying transaction fees and users are able to use these cryptocurrencies to interact with a range of decentralized applications (DApps). <\/p>\n Robinhood Crypto general manager Johann Kerbrat said that the support for Ethereum and ERC-20 tokens came in response to customers wanting access to more coins and tokens on more chains. <\/p>\n Since the beta launch, Robinhood Wallet has also added a nonfungible token feature to enable users to collect and store their favorite collectibles on Ethereum and Polygon. <\/p>\n A Robinhood spokesperson told Cointelegraph that Robinhood NFTs would not be subject to Apple\u2019s 30% commission <\/a>on apps and in-app purchases of digital goods and services. <\/p>\n While the Robinhood Wallet is self custodied there is a range of self-verification methods that can be implemented to provide security to its Web3 users:<\/p>\n \u201cWhen users get started, they need to set up either Face\/Touch ID or a custom PIN, which they\u2019ll use to authenticate every time they open the app. They will also be asked to create a secret recovery phrase, also known as a seed phrase, that allows them access to their wallet and crypto.\u201d<\/p><\/blockquote>\n Robinhood stated that users \u201ccan \u2014 and should \u2014 back up their wallet\u201d by writing it down, storing it offline or saving it in a secure manner.<\/p>\n Related: <\/em><\/strong>Robinhood board gives nod to buy Sam Bankman-Fried\u2019s $578M stake <\/em><\/strong><\/a><\/p>\n However, not everyone is on board with the security mechanisms set in place with the Robinhood Wallet.<\/p>\n A Reddit poster<\/a> by the name of \u201cStamInBlack\u201d wasn\u2019t happy with the option of having seed phrases stored on iCloud, while others in the same thread expressed unrelated reservations with the trading platform.<\/p>\n However, Kerbrat said the feedback on the Robinhood Wallet thus far has been \u201dextremely positive.\u201d<\/p>\n The rollout comes two days after Robinhood Markets revealed in a 10-K filing that it received a subpoena<\/a> from the United States Securities Exchange Commission (SEC) in December to conduct an investigation into its cryptocurrency listings, custody and platform operations. <\/p>\n<\/div>\n\n
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