Robinhood Launches Crypto Wallet with 1,000 Beta Testers

Robinhood Launches Crypto Wallet

Robinhood Markets, Inc. has unveiled a beta version of its cryptocurrency wallet, selecting 1,000 users from its waitlist for the test.

The firm is expected to roll out the test to additional 10,000 users by March before opening to the rest of the WenWallets waiting list.

The selected users would have a daily limit of $2,999 in withdrawals and ten transactions with a feature to calculate the dollar amount of crypto to transact.

Beta testers should enable 2-factor authentication in the rollout seeking to provide insight to the company.

The co-founder and CEO of Robinhood, Vladimir Tenev, pointed out the rising demand for the wallet in October with the waitlist having reached over a million customers.

Robinhood cryptocurrency revenue plunged to $51 million in the third quarter of last year from a high of $233 million in the prior period.

Source: Robinhood

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