Robinhood Makes Big Move, Creates New Crypto Wallet For Android Users

March 20, 2024 4:32 pm Comments

Robinhood has announced that its cryptocurrency wallet will now be compatible with Android users.

The move comes a year after the brokerage giant introduced its wallet for iPhone users and other iOS devices.

The Wallet can now safely store Bitcoin and altcoins such as SHIB, ETH, MATIC, and more.

Over a million users signed up for Robinhood’s waiting list for the new wallet, which has led to Robinhood seeing a 7% spike on the NYSE.

The wallet can also safely store NFTS.

Per U.Today:

Brokerage giant Robinhood has announced that its cryptocurrency wallet is now available for Android users around the globe. The company initially introduced the wallet for all iOS devices last March.

Prior to that, more than a million users joined the waitlist for the product. Self-custodial wallet Robinhood’s wallet supports Bitcoin as well as several altcoins, including Ethereum (ETH), Dogecoin (SHIB), Shiba Inu (SHIB) and Polygon (MATIC). Notably, it also allows users to safely store their non-fungible tokens (NFTs) on top of regulator cryptocurrencies.

The self-custodial cryptocurrency wallet gives users full control of their cryptocurrencies. Users can either create a new wallet from scratch or import their coins from an existing wallet. In order to create a new wallet, it is required to create a custom PIN as well as a seed recovery phrase.

Per Watcher Guru:

Cryptocurrency trading platform Robinhood has officially launched a crypto wallet for Android Users. Indeed, the platform took to X (formerly Twitter) to verify the product’s presence on the Google Play store.

Robinhood stated that customers who had joined the products waitlist have been granted access today. Additionally, the expanded market will allow the crypto wallet to grow its user base. The wallet has already been downloaded hundreds of thousands of times across 140 countries, according to the platform.

Throughout 2024 thus far, the digital asset market has seen a massive surge in value. Led by the arrival of Spot Bitcoin ETFS on the market, BTC had surpassed $73,000 for the first time in its history. Despite a correction taking place this week, assets across the board have been enjoying impressive gains.

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