Trading platform Robinhood has launched its Web3 pockets on Apple’s App Store, turning into accessible to iOS customers in over 130 international locations.
Robinhood shared the information in a Mar. 1 publish, stating that customers would not want to sit on a waitlist to entry the brand new multi-chain, self-custody pockets. It added that it will likely be supported on Android “later this year.”
#RobinhoodWallet is now accessible to everybody with iOS: https://t.co/yUdL8jCgJN pic.twitter.com/q7RIWBJUIT
— Johann Kerbrat (@JohannKerbrat) March 1, 2023
Since the beta launch of the Robinhood Wallet in September, the buying and selling platform built-in Ethereum — as well as to already supporting Polygon — and added 50+ ERC tokens to be purchased, offered and held on the self-custody pockets.
Among the tokens now supported embody USDC, UNI, MATIC and SHIB.
These tokens might be traded with out paying transaction charges and customers are ready to use these cryptocurrencies to work together with a variety of decentralized purposes (Dapps).
Robinhood Crypto common supervisor Johann Kerbrat mentioned the support for Ethereum and ERC-20 tokens got here in response to prospects wanting entry to extra cash and tokens on extra chains.
Since the beta launch, Robinhood Wallet has additionally added a nonfungible token (NFT) function to allow customers to acquire and retailer their favourite collectibles on Ethereum and Polygon.
A Robinhood spokesperson advised Cointelegraph that Robinhood NFTs wouldn’t be topic to Apple’s 30% fee on apps and in-app purchases of digital items and providers.
While the Robinhood Wallet is self custodied there’s a vary of self-verification strategies that may be applied to present safety to its Web3 customers:
“When users get started, they need to set up either Face/Touch ID or a custom PIN, which they’ll use to authenticate every time they open the app. They will also be asked to create a secret recovery phrase, also known as a seed phrase, that allows them access to their wallet and crypto.”
Robinhood said that customers “can–and should–back up their wallet” by writing it down, storing it offline, or saving it in a safe method.
Related: Robinhood board offers nod to purchase Sam Bankman-Fried’s $578M stake
However, not everyone seems to be on board with the safety mechanisms set in place with the Robinhood Wallet.
A Reddit poster by the identify of “StamInBlack” wasn’t completely happy with the choice of getting seed phrases saved on iCloud, whereas others in the identical thread expressed unrelated reservations with the buying and selling platform.
However, Kerbrat mentioned the suggestions on the Robinhood Wallet to date has been ”extraordinarily constructive.”
The rollout comes two days after Robinhood Markets revealed in a 10-Ok submitting that it acquired a subpoena from the United States Securities Exchange Commission (SEC) in December to conduct an investigation into its cryptocurrency listings, custody and platform operations.
