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Stock exchange and cryptocurrency Robin Hood announced that its users will soon be able to send and receive cryptos to and from external wallet addresses.
What happened: According to a Wednesday Reuters report, Robinhood plans to start testing its cryptocurrency wallet features next month ahead of a wider rollout in early 2022. The new features will allow users of the exchange to move the cryptocurrencies taken. in charge between their accounts and their external portfolios.
Currently, Robinhood allows its users to buy, sell and hold many cryptocurrencies, but without the ability to move them to external wallets or deposit them from external wallets. Customers of the exchange have been asking for crypto wallet features for some time in order to participate in decentralized financial markets and booming non-fungible tokens.
See also: ROBINHOOD APP REVIEW
Robinhood Product Manager Aparna Chennapragada said in an interview that implementing the crypto wallet feature is “the natural next step” for the company. She claimed that adding these features helps the company “engage a lot more people from many different backgrounds” in the crypto market.
Robinhood to investigate its cryptocurrency trading client – 60% of the company’s 21.3 million active clients – and choose a small group to test new features and provide feedback. Users who have not been selected will also be able to join a priority waiting list in the progressive deployment.
Image: Robinhood
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