1.6 Million People Waitlisted for Robinhood Crypto Wallet Services

According to the chief operating officer of Robinhood, Christine Brown, 1.6 million people have applied for the company’s cryptocurrency wallet. This was revealed by the news agency Reuter. One of the distinctive competencies of the wallet services offered by Robinhood is the feature that allows users to choose a self-sovereign wallet, the option that is not included by the brokerage platform in its current list of services. 

The current operational mechanism of the trading app offered by Robinhood includes the selling and buying of the representation of Bitcoin and other digital coins instead of the actual cryptocurrencies. The actual transfer will take place only when the customer transfers the digital currency to the wallet for which they get control in terms of private keys. 

The feature of withdrawal has been opened in the month of September by the company after a series of hints that it would enable the feature soon. Since the announcement, the waiting list has grown as people start showing interest and their desire to take ownership of Bitcoin and cryptocurrencies. The company has been particularly cautious about not rushing with the decision of offering this feature and rather waited to come up with this convenience of wallet in an absolutely safe and secure manner. 

It will be interesting to witness how fluent and seamless this service will turn out to be and what extra safety features it will offer to prospective investors to make sure it retains the highest standards of safety and security for customers. There is no doubt that this particular feature will definitely add to the popularity and significance of Robinhood in the cryptocurrency sector. This is specifically relevant for extending the convenience to the customer who will now have actual possession of Bitcoin and other digital currencies in their wallets rather than only being in possession of representation of cryptocurrencies.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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