Dogecoin And Bitcoin Become Latest Additions To Robinhood Wallet

After a protracted stretch of solely providing Polygon (MATIC) in its Web3 pockets, Robinhood shocks the crypto area with its announcement that it’s including two outstanding cryptocurrencies, Bitcoin and Dogecoin, into its pockets choices. 

Dogecoin And Bitcoin Now Out there On Robinhood Pockets

California-based monetary providers firm Robinhood has introduced its new itemizing of Dogecoin and Bitcoin in its self-custodial Web3 pockets, Robinhood Wallet. 

The press release comes as an exhilarating shock for cryptocurrency buyers, as customers can now have entry to BTC and DOGE tokens via their Robinhood wallets.

Responding to its customers’ pleas, Robinhood Pockets revealed that it was including Bitcoin and Dogecoin blockchains, which suggests it now helps a complete of six blockchain networks, together with Polygon, Optimism, Ethereum, and Arbitrium. 

The monetary providers agency has additionally launched a Web3 Browser which can permit its customers to hyperlink their wallets on to decentralized functions (dApps). 

Christine Brown, Robinhood’s Head of Crypto spoke enthusiastically on the newly added tokens within the Robinhood Pockets. She acknowledged that the 2 tokens have been one of the crucial outstanding cryptocurrencies within the area and the monetary providers agency seems to be ahead to its customers to profit from buying and selling and investing within the newly listed cryptocurrencies. 

“We’re excited so as to add Bitcoin and Dogecoin to Robinhood Pockets. These are two of the most well-liked cryptocurrencies on the earth, and we’re glad to present our customers the power to retailer, ship, and obtain them,” Brown acknowledged. 

Robinhood Crypto GM, Johann Kerbat additionally welcomed the brand new addition to the Robinhood pockets. He acknowledged that the Robinhood pockets goals to facilitate adoption and scale back the challenges confronted by the DeFi ecosystem. 

He defined that Robinhood will proceed to fulfill its consumer’s wants because it advances and improves its platform with extra distinctive options. 

“With Robinhood Pockets, we stripped away most of the complexities of DeFi and the broader Web3 ecosystem, and decreased among the challenges and obstacles to entry for on a regular basis individuals,” Kerbat mentioned. 

He added, “We’ve been actually inspired by the adoption to date, and are excited to maintain constructing for our prospects all over the world as we ship new options and broaden assist for brand spanking new networks and tokens.”

HOOD inventory worth sitting above $11 | Supply: Robinhood Markets, Inc. on Tradingview.com

Robinhood Pockets Adoption Poised For Improve Following In-App Ethereum Swap Characteristic

Earlier in 2022, Robinhood launched a beta model of its crypto pockets and the demand for the pockets was staggering, with over 2 million users on the waitlist. At the moment, the Robinhood Pockets boasts lots of of 1000’s of customers based mostly in additional than 120 nations across the globe. 

The Robinhood Pockets will likely be providing in-app swaps on Ethereum for chosen customers, permitting them to commerce their ETH for over 200 completely different ERC-20 tokens obtainable on the platform. The pockets is presently obtainable for all customers in the US.

In a weblog put up, Robinhood described the brand new Ethereum swapping function now obtainable on its Robinhood Pockets, saying:

“Not like different wallets, customers can swap with out holding Ethereum, and community charges are robotically deducted from the tokens they already maintain, making it simpler for everybody to get began and use DeFi.”

The Robinhood Pockets is available for iOS users to commerce and swap cryptocurrencies. The monetary providers firm additionally beforehand listed USDC, its first stablecoin, in its portfolio, probably closing the hole with the stablecoin’s main competitor, USDT.

Featured picture from PYMNTS, chart from Tradingview.com