Robinhood Launches Beta Version Of Its Crypto Wallet In January | Currency News | Financial and business news

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A pop-up kiosk for Robinhood along Wall Street after the company went public.

Spencer Platt / Getty Images

Robinhood Markets is launching a beta version of its crypto wallet in January. After months of fine-tuning the new feature during the October alpha testing, Robinhood is now ready to move into beta. Robinhood has revealed common user reviews ranging from added clarity on gasoline costs to increased user safety. Sign up for our daily newsletter here, 10 things before the opening bell

Robinhood Markets is launching a beta of its cryptocurrency portfolio in January, the trading platform announced on Wednesday.

After months of fine-tuning the new feature during the October alpha testing, Robinhood is now ready to move into beta, which will be available for more users to sign up.

“As the alpha focused on a small batch of customers and 1: 1 engagement, the beta will roll out to tens of thousands of customers,” said Christine Brown, COO of Robinhood Crypto in a tweet.

Brown also revealed common user feedback gathered during its alpha phase, which included additional clarity on gas charges and increased user safety.

“Through our alpha program, we have solicited feedback from a tight-knit group of clients on our portfolio waitlist,” the company said.

During the alpha, Robinhood also announced that it had completed its first transfer of dogecoin to an external wallet.

Users can think of alpha as the software testing phase and beta as the software development phase.

In the case of Robinhood, some users got early access to the pre-released versions of the app while receiving real-time feedback.

The platform’s alpha program had 1 million waitlist registrations in less than 30 days, and currently around 1.6 million in total, Brown added.

Robin Hood

Until now, Robinhood users have been patiently waiting for a crypto wallet feature while rivals Coinbase and Gemini are already offering theirs.

While Robinhood users can trade cryptos, a wallet will allow them to manage their holdings within the app. At the moment, users cannot store, manage, or trade digital assets in and out of their accounts, making exchanges like Kraken more attractive to crypto traders.

With the new feature, Brown said in September that Robinhood, which went public in July 2021, is moving towards its vision of being a one-stop-shop where users can trade stocks and cryptocurrencies.

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