21 January
Last Update: 21 January

Robinhood officially announced that it has added support for Shiba Inu (SHIB)

Robinhood has finally announced that it has begun adding support for Shiba Inu (SHIB) and other cryptocurrencies on its platform. The company has launched Robinhood Wallet, a mobile app that allows users to trade and transfer cryptocurrencies and view their owned NFTs and crypto. According to Robinhood, the app is currently being slowly distributed to over 1 million users on its waiting list through an access code. Previously, the app was only released to 10,000 customers as a beta in September. Here are the details...


Robinhood has finally announced that it has begun adding support for Shiba Inu (SHIB) and other cryptocurrencies on its platform. The company has launched Robinhood Wallet, a mobile app that allows users to trade and transfer cryptocurrencies and view their owned NFTs and crypto. According to Robinhood, the app is currently being slowly distributed to over 1 million users on its waiting list through an access code. Previously, the app was only released to 10,000 customers as a beta in September. Here are the details...


Robinhood has officially announced the launch of its wallet application, which now supports Shiba Inu (SHIB) and other coins.


Robinhood has finally released Robinhood Wallet, a smart phone app that allows users to transfer and trade Shiba Inu (SHIB) and other crypto assets. In a tweet yesterday, Johann Kerbrat, president of Robinhood's crypto division, announced that the company has started rolling out the wallet to over 1 million users on the waitlist. Kerbrat said:

We’ve started to roll out #RobinhoodWallet to our 1M+ waitlist. We’ve made some awesome changes since the beta program based on customer feedback and are excited to get them into your hands

 

Many new features have been planned for the wallet.

Robinhood Wallet, after the beta program, recorded a big development. Initially using the Polygon, Robinhood Wallet added support for the Ethereum network. With Ethereum support, Robinhood Wallet users can now buy and sell selected ERC-20 tokens like Shiba Inu and transfer them as well. Users can also access over 50 ERC-20 tokens including Solana (SOL), Compound (COMP), Uniswap (UNI), Axie Infinity (AXS), Curve (CRV), Ankr (ANKR), and Ethereum Name Service (ENS) along with Shiba Inu. Kerbrat also mentioned that Robinhood Wallet now supports Ethereum and Polygon based NFTs as well.

Robinhood, originally talked about a new transfer feature from its original trading app as the "Crypto Wallet" product. This feature was made available for beta testing in January 2022, and ultimately allowed for Robinhood users to transfer crypto assets both on and off the platform. However, it was not truly a "wallet" as it did not differ from users being able to transfer crypto assets to and from other crypto trading apps like Coinbase, Kraken, Binance or any other. But today's release of Robinhood Wallet, is more similar to MetaMask, Phantom or Coinbase Wallet.

Robinhood only provides support for iOS

Robinhood currently only supports iOS devices for its wallet. Kerbrat, the CEO of Robinhood, announced that iOS mobile users who are on the waitlist will be able to access the Robinhood Wallet through an access code. He added "We will share access codes to allow customers to access the Robinhood Wallet iOS app, so make sure to check your emails."

Kerbrat also stated that users will be charged a fee of $5 for using the Robinhood Wallet after downloading the app. He added that the feature will be available to iOS users on the waiting list in the upcoming weeks and months. Robinhood also announced that they plan to provide support for Android devices by the end of the year.

 

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