Robinhood Crypto Wallets Inbound: Testing, Release Date, And Details

Trading platform Robinhood plans to test cryptocurrency wallets starting next month, the company has revealed, though only some users will get access to the product initially. The company promises a variety of features that may lure in casual crypto enthusiasts, including the ability to receive, send, and hold supported digital coins, track one's portfolio, and more.

Robinhood will start testing its crypto wallets in October; anyone interesting in test driving the product can join a waiting list that is now available. According to the company, joining the waitlist will secure users' a place in line, with the app showing your number in the queue.

The company says it'll share feedback and experiences from the testers on Twitter and its blog so that others can see what the product is like and what it has to offer. Additional people on the waitlist will get access to the wallets with an eventual, more broad rollout.

The big benefit offered by Robinhood's crypto wallets will be the ability to keep your coin portfolio in the same account as the rest of your investments — assuming you're not worried about holding your coins on a platform rather than in a private or cold wallet.

Robinhood promises a number of security features, including multi-factor authentication, identity verification, and phone/email verification. Users will have the ability to transfer their coins to their Robinhood account so they can be traded, plus there will be support for sending the crypto to wallet addresses and receiving digital coins in a Robinhood account.