Robinhood Rolled Out 20 Million Crypto Wallets
Table of contents
Robinhood Enables Crypto Transfers from External Wallets
With the implementation of crypto wallets, Robinhood allows users to transfer cryptocurrencies like Bitcoin, Ether, and Litecoin from the Robinhood wallet to external crypto wallets and vice versa. However, there can be a daily limit for the amount of cryptocurrency and the number of crypto transactions.
Robinhood customers have full access to their crypto holdings and can use it for any purpose - tipping on social media, buying NFTs, etc. Besides, users can also benefit from its no-fee-withdrawals of crypto. The CEO and Co-founder of Robinhood, Vlad Tenev said,
"Our goal is to make Robinhood the most trusted and easiest to use crypto platform. We're excited to bring even lower costs to our customers by integrating with the Lightning network."
Robinhood to Implement Lightning for Bitcoin Transfers
The popular brokerage firm also announced plans to implement the Bitcoin Lightning Network in the near future. It aims to save time and money for customers by activating Lightning transfers. Though the network fees vary based on demand, users can save a lot of time and effort with ultra-speed Lightning transactions.
However, the company did not mention the exact time frame for the Lightning network integration and said it will share more details over the coming months.
