Robinhood Rolled Out 20 Million Crypto Wallets

Popular American financial services company, Robinhood finished activating around 20 million crypto wallets today. The Chief Product Officer Aparna Chennapragada shared the news on the second day of the Bitcoin 2022 Conference in Miami. Robinhood had rolled out crypto wallets to every single eligible customer on a waitlist of more than 2 million people. 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...