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Robinhood Is Launching Crypto Wallet Next Month

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Robinhood  (HOOD) - Get Robinhood Report is launching a crypto wallet next month. 

On Wednesday, the popular trading platform made the announcement saying some selected customers will “begin testing crypto wallets” from October.

The wallet will allow investors to move their cryptocurrencies in and out of their Robinhood App.

“We’re excited to make crypto more accessible by making investing simpler, more straightforward, and low cost –– just as we’ve done for equities," said the company, in an announcement."... you can consolidate your coins into one account so it’s easier to track your portfolio, move supported coins into your Robinhood account so you can trade those coins commission-free, and more."

The company says crypto enthusiasts can join the ‘waitlist’ to get early access to its crypto wallet.

Robinhood, which rolled out crypto trading in its platform in 2018, makes over 50% of its transaction revenue from digital currency trading.

"At Robinhood, we’re working to make the world of crypto easier to understand by giving you the right tools so you can participate at your own pace," the company added. 

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