Robinhood introduced the addition of cryptocurrency investments to its platform in January 2018. But, a lot to the chagrin of Bitcoiners, the app didn’t embrace the choice to withdraw belongings from the platform.
Robinhood introduced an alpha version of its proprietary cryptocurrency pockets in September 2021 and the beta version on January 3, 2022 (in any other case generally known as “Proof Of Keys Day”). With a million customers signing up in lower than 30 days to entry the pockets, it’s clear that Robinhood clients need entry to the non-public keys corresponding to the cryptocurrency they buy by means of the platform.
Robinhood’s chief product officer, Aparna Chennapragad, took the stage at Bitcoin 2022 to elaborate on how the corporate is responding to that demand. She stated, “More than 50% of our customers are new investors.”
One-third of Robinhood’s clients are girls and the group of shoppers is extraordinarily numerous. Chennapragad believes, “It’s important to have safe and secure access to Bitcoin.” According to the slide deck, “Bitcoin is the number one recurring buy asset for 2022” for Robinhood.
More than two million individuals on the Robinhood waitlist can now ship and obtain bitcoin to and from the app as Robinhood unveils withdrawals and deposits at Bitcoin 2022.
Additionally, Chennapragad introduced Robinhood’s intention to deliver Lightning Network to the platform within the close to future. Their causes included quick transactions, low-fee transfers and a decrease carbon footprint as Lightning funds can occur off-chain.
Bitcoin 2022 is a part of the Bitcoin Event Series hosted by BTC Inc, the mother or father firm of Bitcoin Magazine.