Robinhood cryptocurrency wallet already has 2 million users

robinhood wallet para criptomonedas

Cryptocurrencies are growing slowly but surely . In recent years they have had a more noticeable rebound and as proof of this, one of the most popular online trading platforms today, Robinhood, announced at the beginning of the year that it would start testing its own wallet for cryptocurrencies.

Until now, this Wallet was restricted to only 1,000 users with whom the company has been evaluating the performance and effectiveness of said service. Everything indicates that the tests have gone quite well, since just three months after the beta, Robinhood has extended its new service to more than 2 million people.

These users were registered on a waiting list and like them, it is likely that little by little more people will have access to said wallet . But not everything is perfect, this electronic wallet still has several limitations. Do you want to know what they are?

How does the Robinhood cryptocurrency wallet work?

With the Robinhood cryptocurrency wallet you can send and receive cryptocurrencies, it has a QR code that facilitates transactions , although you should know that it only recognizes cryptocurrencies that are approved by the platform. So you run the risk of losing your coins, as there is no way to reverse these trades.

On the other hand, one advantage of this wallet has also been a highly criticized point, since it is very secure but does not provide users with the private keys of their wallets , something that goes against the philosophy of cryptocurrencies. But that’s not all, at Robinhood they hope to enable the Bitcoin Lightning Network , a system with which transactions will be faster and cheaper.

However, this advantage is only possible because the transactions will be done outside of the Bitcoin blockchain . That is, it is not necessary for Bitcoin miners to validate it, something that will surely make noise for more than one. Even so, the Robinhood wallet has generated very high expectations.

Source | Robin Hood Support