Robinhood beta crypto wallet released in January next year, HOOD has fallen 80% since August

Robinhood, an online brokerage platform, plans to launch a Beta version of its digital wallet in mid-January 2022. The function will allow users to deposit and withdraw cryptocurrencies such as Bitcoin, Ethereum, and Dogecoin.

According to an article published by Robinhood on the 29th, the cryptocurrency wallet service announced in September ended the Alpha version test phase on November 22; the beta version test waiting list, in less than 30 days, as many as one million User registration, as of today, more than 1.6 million users have applied for the qualification of the test wallet.

Robinhood Chief Operating Officer Christine Brown said on Twitter on the 29th that the Beta version released this time will focus on user safety, provide users with education on cryptocurrency transactions, and improve the transparency of network and handling fees.

"Through encrypted wallets, we can connect millions of Robinhood users to the blockchain. For some users, we have never had experience. This testing phase will determine whether the wallet can be launched smoothly. We will be very Take this seriously."

Brown continued to mention that the Beta version of the encrypted wallet will pass the waiting list in mid-January, and open users for testing and use: Compared with the small-scale test and 1:1 interaction of the Alpha version, the Beta version can be opened to hundreds of thousands of users for testing. And experience.

The article also pointed out that trading cryptocurrency on the Robinhood platform is still free of handling fees, but if you are trading on the blockchain chain, you will need to pay a handling fee, and the fee will fluctuate according to factors such as the network and transaction conditions; Therefore, testers provide transaction information to users in a simpler and easier-to-understand manner.

Robinhood finally stated that although 2021 will be the year when cryptocurrency has become a mainstream asset, in fact, most users are still familiar with this asset class at this stage and understand the concept of blockchain.

"With the launch of the crypto wallet, I am very happy to play an important role in the process of investors entering the cryptocurrency field."

All the way down after listing

Despite the news of the promotion of wallet products, it still seems that Robinhood's downturn cannot be stimulated. Nasdaq's Robinhood (NASDAQ: HOOD) was listed on the IPO at the end of July. After breaking through a record high of $85 on August 4, its stock price has continued to be weak. The closing price of HOOD was at $17. The price has fallen by 80 since August. %.