Robinhood Expands Web3 Wallet to Support Bitcoin and Dogecoin
Robinhood, the investment platform, has announced the expansion of its web3 wallet to include support for Bitcoin and Dogecoin networks. This comes as a response to user feedback requesting additional crypto and blockchain networks to be added. Previously, the wallet only supported Polygon, Ethereum, Arbitrum, and Optimism networks.
Key Points:
1. Robinhood’s web3 wallet now supports Bitcoin and Dogecoin networks, in addition to Ethereum, Polygon, Arbitrum, and Optimism.
2. The wallet enables users to custody, send, and receive cryptocurrencies on these networks, providing more options for managing digital assets.
3. In-app swaps on Ethereum are now available to select users and will be rolled out more widely in the future. The feature supports over 200 tokens.
4. The updated wallet simplifies user experience by allowing swaps without the need for users to hold ETH. Network fees are automatically deducted from the tokens users hold.
5. Robinhood is actively working to broaden access to other low-cost, fast, and secure layer-2 chains.
Robinhood’s expansion of its web3 wallet demonstrates its commitment to meeting the needs of crypto users by providing a wider range of supported networks and enhanced features. The platform aims to simplify decentralized finance and make the broader web3 ecosystem more accessible to everyday users.
Hot Take
Robinhood’s decision to add Bitcoin and Dogecoin support to its web3 wallet is a significant move that will attract more crypto users. By expanding the capabilities of their wallet and offering more options for managing digital assets, Robinhood demonstrates its dedication to meeting user needs in the evolving crypto landscape. This update positions Robinhood as a competitive player in the crypto space and highlights the company’s focus on accessibility and user experience.
By
By
By
By
By
By