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Robinhood Expands Crypto Wallet Support Beyond Ethereum, Adds Bitcoin and Dogecoin appeared on investorsking.com by Investors King.
Robinhood Markets Inc. has broadened the horizons of its cryptocurrency wallet by adding support for Bitcoin (BTC) and Dogecoin (DOGE).
This move signifies a significant step forward in diversifying its crypto offerings beyond the Ethereum ecosystem.
In a recent statement sent via email, Robinhood announced that all users of its wallet can now seamlessly send and receive BTC and DOGE.
Previously, Robinhood’s wallet was confined to facilitating transactions in Ethereum (ETH) and tokens built on the Ethereum blockchain, a structure reminiscent of the popular Metamask.
However, Robinhood has been attentive to the desires of its customer base, who clamored for a more diverse range of assets across various blockchain networks.
This responsive approach has led to the expansion of their crypto wallet’s capabilities.
In another move towards providing a comprehensive crypto experience, the company has initiated the rollout of swap features for a select group of users.
This feature enables users to effortlessly trade Ether for over 200 different cryptocurrencies. Notably, Robinhood’s wallet can charge users gas fees—the cost associated with transacting on the Ethereum network—from any tokens they hold, not just limited to ETH.
“Unlike other wallets, users can swap without holding Ethereum, and network fees are automatically deducted from the tokens they already hold, making it easier for everyone to get started and use DeFi. ”
“With Robinhood Wallet we stripped away many of the complexities of DeFi and the broader Web3 ecosystem, and reduced some of the challenges and barriers to entry for everyday people,” said Johann Kerbrat, GM of Robinhood Crypto.
“We’ve been really encouraged by the adoption so far, and are excited to keep building for our customers around the world as we ship new features and expand support for new networks and tokens.”
In an inclusive gesture, Robinhood has assured that all users will gain access to this swap feature in the coming weeks.
With Bitcoin and Dogecoin joining the fold, Robinhood is set to make waves in the world of crypto wallets.
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