Robinhood has launched a crypto wallet for Android users.
Discount broker Robinhood has expanded access to crypt wallets for Android users.
According to an announcement on March 20, the Robinhood Wallet app is now available on Google Play. “Own and manage all your blockchain assets in your own self-sustaining wallet that features network support for Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism and Base,” reads the app description. “You can also exchange thousands of tokens on Ethereum, Arbitrum, and Polygon with decentralized exchange (DEX) aggregators,” he added. The app has surpassed 10,000 downloads.
Since its launch in March 2023, Johannes Kerbrath, general manager of Robinhood Crypto, revealed that the broker's iOS crypto wallet has been “downloaded hundreds of thousands of times in 140+ countries.” It has surpassed over 1 million users. Like all self-maintaining wallets, private keys are stored directly in the Robin Hood Crypto Android and iOS apps, inaccessible from developers and backups via Google Drive or iCloud.
Since our iOS launch in early 2023, Robinhood Wallet has been rapidly gaining popularity among users, having been downloaded hundreds of thousands of times in 140+ countries.
Launching on Android is another step forward in our mission to democratize finance for all.
— Johann Kerbrat (@JohannKerbrat) March 20, 2024
Currently, Robinhood allows users to directly trade major cryptocurrencies and altcoins. In the year In 2023, the company launched the Robinhood Connect initiative, which allows users to directly fund purchases made within the Robinhood brokerage platform. The company reported annual transaction revenue of $135 million from clients' crypto trading activities last year, a 33% decline compared to 2022. In addition, the company will hold more than $8.4 billion worth of customer currencies by 2022. .
On December 7, 2023, Cointelegraph reported that Robinhood had launched a crypto trading service in Europe. All eligible customers in the EU region can access Robinhood for crypto trading services, with more than 25 cryptocurrencies available for trading. The new EU Robin Hood crypto app charges zero transaction fees, and customers receive a percentage of their transaction volume in Bitcoin every month.
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