Robinhood announces plans to offer crypto deposits and withdrawals

The controversy-laden trading platform Robinhood announced on Wednesday that it intends to implement cryptocurrency deposits and withdrawals. While customers have been able to buy and sell cryptocurrency via the platform for some time, they are unable to access the coins themselves to transfer them to other wallets.

According to a series of tweets published from the company’s Twitter account, work on integration of cryptocurrency transfers has already begun, though no dates or specifics were provided on when it will go live.

Robinhood also clarified that crypto deposits would be custodied by their own wallets and added that the company does not invest in cryptocurrency and will not use customer funds for its own benefit.

So much interest in Crypto! To be crystal clear , we fully intend to provide the ability to deposit and withdraw cryptocurrencies, including DOGE. Robinhood Crypto does NOT currently invest in cryptocurrency or use any customer cryptocurrency for our own benefit.

— Robinhood (@RobinhoodApp) February 17, 2021

Robinhood currently has seven cryptocurrencies listed for trade on their platform, including Bitcoin (BTC), Dogecoin (DOGE), Ether (ETH), Title: Robinhood announces plans to offer crypto deposits and withdrawals
Sourced From: cointelegraph.com/news/robinhood-announces-plans-to-offer-crypto-deposits-and-withdrawals
Published Date: Thu, 18 Feb 2021 01:06:43 +0000