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• Robinhood is preparing to provide its cryptocurrency wallet to some users starting in January 2022.

Robinhood has not announced when the wallet will exit beta or be available to the public.

Popular cryptocurrency and stock trading app Robinhood is about to launch its cryptocurrency wallet beta testing program.

secondary titleWen WalletsThe beta testing phase will start next January

Robinhood is gearing up to launch its cryptocurrency wallet next month""Beta testing version.Robinhood's article on Wednesday

in blog postChristine Hall Brown revealed that the alpha testing phase of its wallet app is now complete. During this phase, the company “seeks feedback from a close-knit customer base” who provide feedback on the design and functionality of the cryptocurrency wallet.

Next, Robinhood will open the wallet Beta testing phase to some alternate users. Robinhood Crypto Chief Operating Officer

The beta phase will be rolled out to "thousands of customers" in mid-January 2022, the company said.

In its announcement, Robinhood revealed some of the features requested by these users, such as educational content, multiple wallets for different crypto assets, and security features.

Notably, Robinhood intends to clarify the issue of transaction fees by differentiating between its own zero-commission service and blockchain fees. On-chain transactions typically require the payment of network fees, which are determined by the network and can fluctuate based on a number of factors, including the current demand of each network. It explained, “Alpha testers want this information in an easy-to-understand manner when transferring (assets).”Robinhood is primarily a stock trading app. It initially allowed users to invest in bitcoin and other cryptocurrencies in 2018.However, without the crypto wallet functionality, users can only withdraw their crypto investment funds in the form of cash balances. This restriction was widely criticized by the crypto community, Robinhood

Originally announced in September 2021

Plans to introduce a crypto wallet in its app.