Robinhood Aims to Disrupt the Market Launching a Cryptocurrency Wallet
Robinhood, an important player in the cryptocurrency market is planning to launch a cryptocurrency wallet to the market. The company decided to offer a commission-free trading application that allows individuals and investors to trade virtual currencies like Ethereum (ETH) and Bitcoin (BTC) with no fees.
Robinhood Trading App May Launch Crypto Wallet
According to a job related search on the Greenhouse website, Robinhood is working on a cryptocurrency wallet. This means that users would be able to move their assets from other wallets to the platform without having to sell the currencies first.
Currently, customers need to sell their virtual currencies in order to withdraw or deposit them on the platform.
Robinhood has attracted the attention of investors after adding Bitcoin and Ethereum trading without fees on its application. Unfortunately, the platform is available in some US states and not all over the world. In the future, the company may release new versions for other countries or US states.
The Job ad, that was spotted by Business Insider, shows that the company is searching for a ‘Crypto Engineer.’ The main responsibilities are related to adding new functionalities and features to the crypto application.
The ad reads as follows:
“As a Crypto Engineer you’ll: Build out new functionality for our crypto product, such as adding new currencies or providing wallet functionality.”
Applicants must have at least one year of experience in the crypto or blockchain world, and experience with distributed services.
According to a spokesperson of the platform, users have been asking for a way to move virtual currencies into the app and from it to other services. Additionally, providing a virtual currency wallet, users will have the possibility to store their currencies safely.
Robinhood offers users U.S. stocks, options and other ETFs. At the moment, it offers support in New Hampshire, Montana, Missouri, Massachusetts, California, Colorado, Arizona, Florida, Michigan, Indiana, Mississippi, New Mexico, and more.
The platform also allows users to receive alerts for their favorite cryptocurrencies. It has data available for 16 important virtual currencies. After a Series D fundraising round held the last month, the firm raised over $363 million dollars providing an important amount of money for further expansion of its products.