Robinhood, a leading trading platform, has made its multi-chain, self-custody wallet, Robinhood Wallet, available on the Apple App Store.
This move brings the wallet to over 130 countries and allows iOS users to access it without delay. Previously, access to the wallet was only possible through a waitlist. The Android version is expected to be released later this year.
Since its beta launch in September, Robinhood Wallet has integrated Ethereum and added support for Polygon, along with 50+ ERC tokens.
Users can buy, sell, and hold tokens such as USDC, UNI, MATIC, and SHIB without any transaction fees. In addition, they can use these cryptocurrencies to interact with decentralized applications (Dapps).
Robinhood Crypto general manager Johann Kerbrat mentioned that the addition of Ethereum and ERC-20 tokens was in response to customer demand for access to more coins and tokens on multiple chains.
Robinhood Wallet is self-custodied, which means that users have complete control over their crypto assets. The wallet provides various self-verification methods to ensure its Web3 users’ security. These include setting up Face/Touch ID or a custom PIN, as well as creating a secret recovery phrase, also known as a seed phrase, to access their wallet and crypto.
To ensure that users’ crypto assets are safe, Robinhood recommends that they back up their wallet by writing down their seed phrase, storing it offline, or saving it securely.
However, some users have expressed concerns about storing seed phrases on iCloud. A Reddit user called “StamInBlack” highlighted this issue, while others expressed unrelated reservations about the trading platform.
Since its launch, Robinhood Wallet has added a non-fungible token (NFT) feature for collecting and storing favorite collectibles on Ethereum and Polygon.
The Robinhood Wallet’s integration with Ethereum and other blockchains and the addition of NFT functionality underscores the platform’s commitment to supporting the rapidly growing crypto industry.
