BlocksInform
Once the user downloads and gets access, Robinhood Wallet gives every client $5 in cryptography.
Robinhood Markets Inc (NASDAQ: HOOD) has announced the launch of its Web3 Wallet which will be rolled out to over 1 million users on the waitlist. Robinhood has been using the beta version of the web3 portfolio for nearly a year to obtain user feedback and adjust functionality accordingly. The Robinhood portfolio is on the verge of revolutionizing the Web3 market with cost-free swaps and crypto transactions.
Robinhood Wallet
Reportedly, the company will be sharing access codes with customers that will give them entry to the Robinhood Wallet iOS app. Once the user downloads and gets access, robinhood wallet gives each crypto client $5. Functionality is a marketing strategy to attract more competitors' customers like metamask.
“The Robinhood Wallet is a completely different product housed in a separate, standalone app that allows users to have total control over their crypto and provides access to more advanced features, like connecting to decentralized apps and NFT marketplaces,” Robinhood’s General Manager Johann Kerbrat
Notably, the Robinhood Wallet has integrated with Ethereum and Polygon networks and promised to incorporate more blockchains in near future. As such, Robinhood Wallet will support over 50 ERC tokens that are already listed including COMP, MATIC, SHIB, , UNI, and
GM! We’ve started to roll out #RobinhoodWallet to our 1M+ waitlist. We’ve made some awesome changes since the beta program based on customer feedback and are excited to get them into your hands. (1/6) pic.twitter.com/EMKSjQqYNX
— Johann Kerbrat (@JohannKerbrat) January 19, 2023
The Wallet has also incorporated support from both EthereumPolygon for customers to safely store their collectables. Polygon's integration aims to make the Ethereum network scalable.
Robinhood and the Market Outlook
Founded in April 2013 by Vladimir Tenev and Baiju Bhatt, Robinhood Markets has grown into a respectable global trading platform. According to the measurements provided on the official website, the company is proud of more than 12.2 million active monthly users with more than 22 million net accumulated capitalization accounts. The company also has more than $65 billion in assets as at September 30, 2022.
The Corporation has expanded its revenue recovery opportunities as reflected in its third quarter results. In particular, total net income reported by Robinhood was about $361 million.
"In Q3, we met our adjusted ebitda profitability target one quarter ahead of schedule," vlad tenev, managing director and co-founder of robinhood markets. "We have responded to key demands for features for clients, including advanced charts, cash account options, instant withdrawals and our self-censorship, our Web3 portfolio. Over the next week, we will increase the return on non-dedicated cash for gold limbs, making it one of the best rates in the business."
In addition, HOOD equities closed on January 19 at $9.05, down 2.79% compared to the opening price of the day. The company's equity market has fallen by about 33 per cent in the last year according to MarketWatch data.
