Robinhood Says Bitcoin, Ethereum, Dogecoin Transfers Coming in October

Read the full article by: Jeff John Roberts

Today Robinhood revealed their long-awaited crypto wallet. This comes after months of criticism aimed at the company due to its actions during the now-infamous Gamestop Saga. The announcement shouldn’t garner Robinhood any good faith, because of how the so-called “wallet” functions. Most crypto exchanges provide users with non-custodial wallets, allowing them to securely hold & move their assets as they see fit, with Robinhood while customers have been able to buy coins like Etherem & Litecoin, they have not been able to move them, eliminating one of crypto’s basic appeals. Many assumed that this announcement would bring the long-awaited feature to the platform, but during the announcement, the company reiterated its stance that “it has no plans to offer a non-custodial wallet”. In an interview with Decrypt, Robinhood Crypto COO Christine Brown said “ the company views the wallets as a first step to help customers discover the broader world of crypto, including NFTs”. This continued position on wallets is disappointing but falls in line with how many bigger institutions within the space, are dancing around regulation. Ms.Browns last statement is also one to ponder, due to her mention of NFT’s, a growing market, that I would assume “The Hood” is beginning to investigate, what investment would look like.