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Robinhood will release beta version of its cryptocurrency wallet in January

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The financial services company Robinhood announced this Wednesday (29) that it will launch the beta version of its cryptocurrency wallet in January.

After months of tweaking the new feature during alpha testing in October, the company said it is now ready to move into beta. According to the company, the new version will be available to more users:

“While alpha focuses on a small batch of customers and 1:1 engagement, beta will roll out to tens of thousands of customers,” said Christine Brown, Chief Operating Officer of Robinhood Crypto, in a tweet.

Crypto wallet features

Additionally, Brown revealed user feedbacks gained throughout the alpha phase. This included additional clarity on gas fees and increased user security.

On security, Robinhood said in a statement that it will also release additional security features for crypto transactions.

Thus, features include in-app multi-factor authentication and transaction checks. The aim is to ensure the authenticity of the transaction and understand the risk of where the coins are being sent.

“Through our alpha program, we seek feedback from a cohesive group of customers on our wallet waiting list,” the company said.

During alpha, Robinhood also announced that he had made his first transfer from Dogecoin to an external wallet.

In all, the platform’s alpha program saw 1 million entries on the waiting list in 30 days. There are currently about 1.6 million in total, Brown said.

Robinhood users can trade crypto assets and shares on the platform. But a wallet of their own will allow them to manage their holdings in the app.

At this time, users cannot store, manage or exchange digital assets in and out of their accounts. Finally, Brown noted that the initiative is a step forward by Robinhood in its full-service strategy.

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All content in this article is for informational purposes only and in no way serves as investment advice. Investing in cryptocurrencies, commodities and stocks is very risky and can lead to capital losses.

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