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Robinhood's Crypto Wallet Now Supports Bitcoin and Dogecoin Storage

Aug 30, 2023 at 09:08 pm

Robinhood Markets Inc. has expanded the capabilities of its crypto wallet by introducing support for bitcoin (BTC) and dogecoin (DOGE), effectively broadening its range beyond the Ethereum ecosystem. This strategic move allows all users of the Robinhood wallet to seamlessly send and receive BTC and DOGE, marking an expansion beyond its previous support for ether (ETH) and Ethereum-based tokens.

In an official statement, the company revealed that its six-month-old wallet, which has garnered a user base spanning 140 countries, now accommodates the two prominent cryptocurrencies, BTC and DOGE. This shift in functionality comes as a response to customer demand for increased asset options across various blockchain networks, thereby prompting Robinhood to extend its wallet services.

Notably, Robinhood has also introduced a swap feature that enables select users to trade ether for more than 200 different assets. This recent enhancement further enriches the wallet's utility by providing diversified trading opportunities. The wallet's versatility is exemplified by its ability to charge users gas fees, which are associated with Ethereum transactions, using tokens other than ETH.

While the swap feature has begun rolling out for select users, Robinhood plans to make it accessible to all users in the upcoming weeks. With these updates, Robinhood's crypto wallet continues to evolve to meet the growing demands of its user base and the broader crypto community.

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