Robinhood wrote in a blog post that more than 1.6 million people have signed up for the wallet. We look forward to rolling out new products as soon as possible. Creating a wallet and connecting our millions of customers to the blockchain is a huge undertaking.
With the help of this wallet, other cryptocurrencies including Bitcoin, Ether and Dogecoin can be deposited and withdrawn. Robinhood has claimed to have security features such as identity verification and authentication in its wallet amid the increasing number of crypto-related cybercrimes in the US and other countries around the world.
The blog post states that additional security features will be introduced for crypto transactions. These include multi-factor authentication. According to Robinhood, this makes it easier to know that the user is completing the transfer. Recognizing that the crypto space will go mainstream in 2021, Robinhood has gone about its survey. According to this, most people are still introducing themselves to the world of crypto.
This year Robinhood has introduced many new services and features. The company launched a service on 13 September to allow users to invest regularly in their favorite coins. However, this platform also faced a data breach.
Robinhood’s servers were breached by an unauthorized third party in October. Cybercriminals have obtained personal details of millions of Robinhood users. The investigation was started, but its results are not yet known.
As for Robinhood’s digital wallet beta version, it will be made available by mid-January.