American fintech broker Robinhood has expanded support for its cryptocurrency wallet for Android users. All customers who have joined the Robinhood crypto wallet waitlist for Android can now install the product on Google Play and start using it. The CEO of the company’s crypto division, Johann Kerbrath, wrote about this.
Robinhood Wallet is now available globally to @Android users! 🎉
Our mission to make Robinhood the most trusted and easiest way to use crypto expands by bringing our innovative self-custody web3 app to millions of #Android users around the world. 🗺️ pic.twitter.com/5P7ffah3Q6
— Johann Kerbrat (@JohannKerbrat) March 20, 2024
Robinhood: This is just the beginning!
Since the launch of the Robinhood crypto wallet for iOS, hundreds of thousands of users from more than 140 countries have installed it, Kerbrat said. The broker introduced a product for storing digital assets in March 2023. The Robinhood crypto wallet works with networks such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Arbitrum (ARB), Polygon (MATIC), Optimism (OP) and Base. Additionally, it also supports decentralized exchange (DEX) aggregators like 0x API and LI.FI.
When exchanging tokens through a wallet, no service fee is charged to users. You only need to pay for direct transactions on the blockchain.
Private keys are stored directly in the crypto wallet application. However, developers do not have access to them. Backup is available via Google Drive or iCloud.
Representatives of the fintech broker noted that the launch of the Robinhood crypto wallet on Android is just the beginning. The company will continue to add new features in the coming months based on customer feedback.
With This launch, Android users will be able to:
-Hold the private keys to their crypto and have control over their digital assets.
-Store, manage, send, and receive crypto on Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base networks.
-Swap crypto on the Ethereum, Polygon, and Arbitrum networks via 0x API and LI.FI
-Fund their wallet directly from their Robinhood balance or from another wallet or exchange.
-Discover trending tokens, top movers, and the latest crypto news directly from the app.
-This is just the beginning for Robinhood Wallet on Android. Over the coming months, Robinhood will keep adding new features as it gathers feedback from customers.
Robinhood’s crypto business is growing
In the fourth quarter of last year, the company reported that their income from cryptocurrency transactions increased by 10% and amounted to $43 million. Notional trading volume in digital assets, meanwhile, increased by 89% compared to the third quarter.
In December, the broker launched a zero-commission cryptocurrency trading app in Europe. European clients receive a monthly percentage of Bitcoin trading volume. They are also paid rewards through a referral program. Previously, the MetaMask crypto team integrated the Robinhood Connect fiat-crypto bridge, which allows you to trade crypto assets directly. However, this feature is currently only available to US residents.
