- In the recent turn of events, the popular crypto and stock trading platform Robinhood has managed to come to the limelight after allowing certain cryptocurrency withdrawals.
- About 1000 users who first signed up for the waitlisting program related to the Digital Wallet would be considered eligible candidates for the participation in beta testing of the Wallet.
- Robinhood is a financial services platform that has backing from Citadel Securities. The platform is known for providing crypto and stock trading options.
In the recent turn of events, the popular crypto and stock trading platform Robinhood has managed to come to the limelight after allowing certain cryptocurrency withdrawals to some of the lucky users who made an effort and signed up to join the crypto program wallet waitlist. Robinhood is an online platform for retail investing, and it has released the long-awaited Wallet for cryptocurrency. The Wallet is now in the stage of beta testing, and it will allow the current users to properly withdraw the cryptocurrency from a unified platform. In addition, the company has managed to create a solution for the proper management and transaction of cryptocurrency.
About 1000 users who first signed up for the waitlisting program related to the Digital Wallet would be considered eligible candidates for the participation in beta testing of the Wallet. The testers of the Wallet will be allowed to withdraw about $2,999 worth of cryptocurrency in over ten different transactions in total.
Beta Testers Get To Experience the Best of Robinhood Cryptocurrency Wallet
Robinhood is a financial services platform that has backing from Citadel Securities. The platform is known for providing crypto and stock trading options. The purchasers of Robinhood Cryptocurrency have been waiting for a very long time for the release of the Wallet. The wait has been going on since the middle of 2021, after creating the waitlist. Brown revealed the final public count related to the user sign-ups, and it has amounted to 1.6 million, which was about 7% of the user base.
After the inauguration of the Wallet, the current limit of the users selected for beta testing is at 1000. But this cap is to be raised to about ten thousand by the time we reach the month of March. The main reason for having beta testers is to ensure that the Wallet’s core functionality is determined. In addition, these people will provide proper and critical feedback regarding the digital Wallet, thus making the final product version usable and efficient for the other users. Beta testing is a very important part of the process because it will provide the digital Wallet with the credibility it deserves.
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To participate in the beta testing process, the testers will have to go through an identification process known as KYC or Know Your Customer. However, this is only the case if the users aren’t members of the Robinhood family. The Crypto COO of Robinhood, Christine Brown, tweeted earlier today that the Wallet’s Beta programming is currently going on. So, the company will be working to create and finalize the proper flow for receiving and sending delightful experiences of QR scanning. This will also lead to an improvement in the transaction history. Not to mention that it will also provide more support for the block explorer.
With the release of digital wallets, the game has entirely been changed for cryptocurrency. Before the wallets came into existence, any cryptocurrency bought from platforms couldn’t be properly stored or withdrawn. Hence, cryptocurrency transaction was just a name for the process. However, with the growth in the crypto division of Robinhood, the company can provide a proper format for a cryptocurrency exchange in the best way.
The users of Robinhood cryptocurrency will exist in a better and more functional world of blockchain and hence will be able to efficiently and effectively store and withdraw digital currency. Most traders tend to choose DOGE or Dogecoin as the preferred choice of digital coin. About 41% of the revenue of Robinhood is from Dogecoin, and hence it is a proper form of currency for testing the beta version of the Wallet.