Robinhood Wallet, a well-known multi-chain, self-custody, Web3 wallet, has recently added new features to cater to the increasing needs of its user base. Responding to user feedback, Robinhood Wallet now allows users to custody, send, and receive Bitcoin (BTC) and Dogecoin (DOGE).
Furthermore, the platform has introduced on-app swaps on the Ethereum (ETH) network, with select users gaining access to over 200 tokens for swapping.
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Robinhood Wallet adds Bitcoin, Dogecoin, and Ethereum swapping. Robinhood Wallet Expands Crypto Support
Robinhood Wallet has introduced support for Bitcoin and Dogecoin to provide users with more options. The wallet has been adopted globally since its launch six months ago, with users from over 140 countries. The recent launch of Ethereum swaps on the wallet allows users to engage with decentralized finance (DeFi) without holding Ethereum in their wallets. Network fees are automatically deducted from the tokens users already possess, simplifying the swapping process and making it more accessible. Johann Kerbrat, General Manager of Robinhood Crypto, has emphasized the company’s commitment to streamlining the DeFi experience and expanding support for various networks and tokens. The wallet currently supports Arbitrum, Bitcoin, Ethereum, Dogecoin, Optimism, and Polygon networks, enabling users to own, send, and receive crypto across these chains. The wallet also facilitates crypto swapping on Ethereum and Polygon networks, allowing users to connect to various decentralized applications (dapps). Robinhood Wallet provides users with complete control over their assets, ensuring that only they possess and maintain the private keys to their cryptocurrencies. Robinhood Wallet adds Bitcoin, Dogecoin, and Ethereum swapping.
Fiat Onramp Via Robinhood Connect?
Robinhood Wallet has recently announced that it aims to expand its network support by adding other Layer 2 chains based on user demand. It has already added Polygon, Arbitrum, and Optimism to its network. To increase accessibility for users in the United States, Robinhood Wallet now offers a fiat onramp through Robinhood Connect. This allows eligible users to purchase or transfer crypto directly within the wallet. The platform has also expanded its rewards program to include learning rewards, which enable users to earn USDC by completing educational lessons. However, users are required to set up biometric authentication or a custom PIN for app access and create a secret recovery phrase to access their wallet and crypto holdings. The company recommends storing the recovery phrase securely and not sharing it with anyone, as the company never has access to a user’s seed phrase. Additionally, a Web3 browser can enhance the wallet’s functionality by enabling direct connectivity to decentralized applications.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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