Robinhood Wallet rolls out on iOS with Android support to follow

Trading level Robinhood has launched its Web3 wallet connected Apple’s App Store, becoming disposable to iOS users successful implicit 130 countries.

Robinhood shared the quality successful a Mar. 1 post, stating that users would nary longer request to beryllium connected a waitlist to entree the caller multi-chain, self-custody wallet. It added that it volition beryllium supported connected Android “later this year.”

#RobinhoodWallet is present disposable to everyone with iOS: https://t.co/yUdL8jCgJN pic.twitter.com/q7RIWBJUIT

— Johann Kerbrat (@JohannKerbrat) March 1, 2023

Since the beta motorboat of the Robinhood Wallet successful September, the trading level integrated Ethereum — successful summation to already supporting Polygon — and added 50+ ERC tokens to beryllium bought, sold and held connected the self-custody wallet.

Among the tokens present supported see USDC, UNI, MATIC and SHIB.

These tokens tin beryllium traded without paying transaction fees and users are capable to usage these cryptocurrencies to interact with a scope of decentralized applications (Dapps).

A preview of the Robinhood Web3 Wallet. Source: Robinhood.

Robinhood Crypto wide manager Johann Kerbrat said the enactment for Ethereum and ERC-20 tokens came successful effect to customers wanting entree to much coins and tokens connected much chains.

Since the beta launch, Robinhood Wallet has besides added a nonfungible token (NFT) diagnostic to alteration users to cod and store their favourite collectibles connected Ethereum and Polygon.

A Robinhood spokesperson told Cointelegraph that Robinhood NFTs would not beryllium taxable to Apple’s 30% committee on apps and in-app purchases of integer goods and services.

While the Robinhood Wallet is aforesaid custodied determination is simply a scope of self-verification methods that tin beryllium implemented to supply information to its Web3 users:

“When users get started, they request to acceptable up either Face/Touch ID oregon a customized PIN, which they’ll usage to authenticate each clip they unfastened the app. They volition besides beryllium asked to make a concealed betterment phrase, besides known arsenic a effect phrase, that allows them entree to their wallet and crypto.”

Robinhood stated that users “can–and should–back up their wallet” by penning it down, storing it offline, oregon redeeming it successful a unafraid manner.

Related: Robinhood committee gives motion to bargain Sam Bankman-Fried’s $578M involvement

However, not everyone is connected committee with the information mechanisms acceptable successful spot with the Robinhood Wallet.

A Reddit poster by the sanction of “StamInBlack” wasn’t blessed with the enactment of having effect phrases stored connected iCloud, portion others successful the aforesaid thread expressed unrelated reservations with the trading platform.

An further method to unafraid the Robinhood Wallet. Source: Robinhood.

However, Kerbrat said the feedback connected the Robinhood Wallet frankincense acold has been ”extremely positive.”

The rollout comes 2 days aft Robinhood Markets revealed successful a 10-K filing that it received a subpoena from the United States Securities Exchange Commission (SEC) successful December to behaviour an probe into its cryptocurrency listings, custody and level operations.