Značka: robinhood

Robinhood crypto wallet testing is live: 1,000 users can now withdraw

Online retail investing platform Robinhood has released its long awaited crypto wallet for beta testing which will finally enable users to withdraw crypto from the platform.The first 1,000 users that signed up to the waitlist for ‘Wallets’ are eligible to take part in beta testing. Wallets testers will be able to withdraw crypto valued up to $2,999 over a maximum of 10 total transactions daily. Robinhood is a financial services platform backed by Citadel Securities that offers stock and crypto trading. Robinhood’s crypto purchaser users have awaited the release of Wallets since mid 2021 when the waitlist was first created. The last public count of sign-ups to the waitlist revealed by Brown stood at 1.6 million in November, or about 7% of its total user base.While the current limit of testers is capped at 1,000, the company plans to raise the cap to 10,000 by March. A Jan. 20 announcement from Robinhood stated that:“Beta testers will help us test core functionality and provide critical feedback to inform the final version of the product.”Wallets testers will be required to perform know-your-customer (KYC) identification if they are not existing Robinhood users and use a two-factor authentication app. Robinhood’s Crypto COO Christine Brown tweeted today that while the Beta program is ongoing, the company will work “to finalize the send and receive flows and add delightful QR scanning experiences, improved transaction history, and block explorer support.”Over the duration of the Beta program, we will be working to finalize the send and receive flows and add delightful QR scanning experiences, improved transaction history, and block explorer support so you can see your transactions on-chain— and more!https://t.co/db5afxwQWx— Christine (Hall) Brown (@christine_hall) January 20, 2022Up until the release of Wallets, any crypto bought on the platform could not be withdrawn nor stored privately, making it essentially a crypto transaction in name only. Now however, Robinhood’s growing crypto division is beginning to resemble a full-fledged crypto exchange that the company says will “fully connect Robinhood crypto holders to the greater blockchain ecosystem for the very first time.”Related: Robinhood hits new low as FTX.US and Bitstamp USA move into stocksMany of its traders favor Dogecoin (DOGE) as their coin of choice. DOGE accounted for 41% of Robinhood’s total revenue in Q2 2021 and 19% in Q3. There are also rumors that the company will list Shiba Inu (SHIB) since Robinhood co-founder Vlad Kardapoltsev recently commented on the rising number of SHIB token holders. Brown ha stated that listing SHIB would depend on regulatory feasibility.Robinhood (HOOD) share price has fallen to an all-time low of $13.50 in after hours trading.

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Robinhood hits new low as FTX US and Bitstamp USA move into stocks

Crypto exchanges FTX US and Bitstamp USA are working on offering stock trading, which would be a further blow to Robinhood as its share price slumps to new lows. FTX US President Brett Harrison tweeted on Tuesday that the crypto exchange is “hard at work on stocks,” commenting that a launch would be coming in “a couple months.” We’re hard at work on stocks! Features we’re planning for day 1: -Live BBO and historical candles-Stock screening/search functionality-Basic fundamentals (market cap, P/E ratio, dividend yield)-Portfolio performance tracking, order/trade detailsWhat else should we have? pic.twitter.com/q2bTpsfuna— Brett Harrison (@Brett_FTXUS) January 11, 2022This isn’t FTX’s first dalliance with stocks. Back in Oct. 2020, the global arm of the crypto exchange launched a feature to allow its customers to access fractionalized trading in tokenized stocks.And Bitstamp USA CEO Robert Zagotta said in a Jan 14 interview with Bloomberg that the exchange is considering entering stocks, non-fungible tokens (NFTs) and crypto derivatives.Offering low cost equities trading would allow the two crypto exchanges to attract a similar user base of meme stock style investors as Robinhood, which offers both crypto and stock trading. The additional competition is unlikely to be welcomed by Robinhood ($HOOD) at this point. With meme stock and crypto trading cooling down, the American financial services company closed at an all-time low of $15.30 on Jan 13. Related: Kraken CEO reverses $100K BTC 2021 forecast: Crypto winter now possibleRobinhood is approaching the market from the opposite direction to the two exchanges, beginning with stocks and moving into crypto. It’s been adding new features to its crypto service for some time, and plans to roll out the beta version of its crypto wallet feature this month. This will enable users to withdraw cryptocurrency from the platform. $HOOD closes at an all time low.— unusual_whales (@unusual_whales) January 13, 2022

One potential bright spot for Robinhood is interest from the Shiba Inu community. Shiba Inu Coin ($SHIB) has been pumping on rumors that it could be listed for trading on Robinhood as early as next month. The altcoin rebounded by nearly 30% in three days. However CEO Vlad Tenev has denied such reports on multiple occasions.

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Shiba Inu (SHIB) fetches 30% gain on Robinhood listing rumor and bullish chart pattern

Shiba Inu (SHIB) seems to be preparing for a bullish breakout as a falling wedge pattern begins to form.The price of SHIB has been trending lower inside an area defined by two contracting trendlines while accompanying a decline in trading volume. That shows that investors have been less concerned about the downtrend.  As a result, falling wedges typically provide an ideal springboard for an upside break once the price closes above the structure’s upper trendline. On Thursday, SHIB showed signs of following a similar topside break.SHIB/USDT daily price chart featuring a falling wedge. Source: Fiery Trading Notably, the token briefly closed above the falling wedge’s upper trendline, hitting an intraday high of $0.00003290. The upside move raised anticipation that SHIB would continue its trend higher in the coming sessions, with Fiery Trading analysts noting that an ongoing bullish retracement across the crypto market would further boost the altcoin’s upside bias.The analysts said,”With the entirety of the crypto market seeing strong bullish moves, it’s to be expected that SHIBA will follow. This token is currently trading near the top resistance of the pattern so that a breakout might occur soon. Look for a daily close above the resistance.”The next upside target for SHIBA decisive move above the falling wedge’s upper trendline could have traders eye for a bullish confirmation near $0.00003929. Simply put, if the price of SHIB breaks above $0.00003929, a previous level of resistance, traders may end up placing upside bets toward the level that comes at a distance equal to the maximum gap between the upper and lower trendline ($0.00004240). SHIB/USDT daily price chart featuring a falling wedge setup. Source: TradingViewAs a result, the potential falling wedge breakout could put the price of SHIB en route to $0.00008026, as shown in the chart above. Conversely, a pullback move from the wedge’s upper trendline could have SHIB retest the structure’s lower trendline around $0.00002350 support.Potential Robinhood listing backs the current rallySHIB’s bullish setup emerged primarily after it rebounded by nearly 30% in three days.At the core of SHIB’s sharp retracement were a few fundamental catalysts. These include speculation about the token’s listing on Robinhood, a zero-commission trading app with over $14 million in average daily volume. SHIBA INU ROBINHOOD LISTING SAID TO COME AS EARLY IN FEBthis is about 6 months too late— zerohedge (@zerohedge) January 12, 2022Additionally, SHIB also rallied higher in line with a bounce-back across crypto markets on Wednesday, with top digital asset Bitcoin (BTC) rebounding by more than 12% and Ether (ETH) rising by nearly 18% in the past three days.Related: Five coins that saw huge gains in 2021While it is likely that SHIB’s price boomed due to excessive speculation, Vladimir Kardapoltsev, CEO of blockchain wallet company PointPay, noted that its potential to log more gains in 2022 was huge due to SHIB investors’ recent holding pattern.”It is worth mentioning that in just over five weeks, the average holding duration for Shiba coins on Coinbase Global has climbed from 6 to 32 days,” he told Cointelegraph, adding that “people have been hoarding SHIB because of Shiba Inu’s willingness to become more than just a Dogecoin-like meme token.”Kardapoltsev said,”There are several critical criteria that investors and potential buyers should consider when determining the price of SHIB in 2022. Shibarium, the gaming video game Oshiverse, and ShibaSwap have all contributed to Shiba Inu’s surging pricing, placing it ahead of competitors such as Dogecoin, which is still a meme currency play with minimal development.”The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Robinhood plans to launch beta crypto wallets in January as HOOD drops to $17

Cryptocurrency and stock trading app Robinhood plans to roll out the beta version of its digital wallet feature starting in January 2022. In a Wednesday blog post, Robinhood said tens of thousands of users currently on the waitlist for the trading app’s crypto wallet would have access to the beta version starting in mid-January. The trading app said more than 1.6 million people were waiting for the wallet, which will support depositing and withdrawing Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE) and other tokens. The trading app has been testing its digital wallet feature since it was first announced in September, completing its first alpha transfer — using DOGE — on Nov. 22. According to Robinhood chief operating officer Christine Brown, the beta rollout would be focused on the security of users, as well as providing education on crypto transactions and clarity around network and gas fees.What’s next? The #WalletsBeta phase will start in mid-January & enable a larger group of users from the waitlist to gain access. While Alpha focused on a small batch of customers and 1:1 engagement, Beta will roll out to tens of thousands of customers.— Christine (Hall) Brown (@christine_hall) December 29, 2021“While some say 2021 is the year that crypto went mainstream, the truth is that most people are still familiarizing themselves with the asset class and how to navigate the blockchain,” said Robinhood. “With the launch of wallets, we’re thrilled to play a significant role in welcoming a broad range of investors to the cryptosphere for the very first time.”Related: Some Salvadorans claim funds are missing from their Chivo walletsThe share price of Robinhood (HOOD) on the Nasdaq seemed to be unmoved by the recent announcement. First going public in July, the stock has steadily declined from an all-time high price of $70.39 on Aug. 4 to $17.03 at the time of publication, a drop of more than 75%.

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Robinhood enables US users to gift crypto for the holidays

Trading app Robinhood has announced that its users will be able to gift friends and family crypto over the holiday season.In a Thursday announcement, Robinhood said its users — with the exception of those in Hawaii and Nevada — could send as little as $1 in Bitcoin (BTC) or six other cryptocurrencies with a personalized digital card starting on Dec. 22. To ensure the crypto is not lost by a recipient unwilling or unable to use it, the trading app has set up a 14-day window to accept the gift, at which point the user will not be charged.”Crypto gifting is a great way for our customers to help remove the emotional and economic barrier of their friends and family taking their first step into crypto,” Robinhood Crypto COO and Lead Christine Brown told Cointelegraph. “It is also an easy and immediate gift for those that are already crypto fans.”Gifting crypto through Robinhood. Source: RobinhoodRobinhood’s offering is similar to those currently offered by Block, formerly Square, in addition to PayPal and Coinbase. It’s unclear if the trading app intends to make the crypto gift giving feature available after the holidays. Cointelegraph reported on Dec. 7 that a study by lending firm BlockFi showed many Americans would be willing to accept cryptocurrencies including BTC, Ether (ETH), and Dogecoin (DOGE) as gifts this holiday season. However, the same survey revealed that the majority of respondents did not have the skills to transfer crypto. Related: Gifting crypto to loved ones this holiday? Educate them firstWith more than 22 million users, Robinhood is currently testing its digital wallet feature expected to launch for all customers in early 2022. Since going public on the Nasdaq in July, the share price of Robinhood (HOOD) has steadily declined from an all-time high of $70.39 on Aug. 4 to $18.16 at the time of publication, a drop of roughly 74%.

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Cove Markets to join Robinhood Crypto in latest acquisition

Cove Markets, an API platform that enables users to trade across multiple centralized exchanges and manage aggregate financial data, will become part of Robinhood Crypto, as announced by the discount brokerage late Tuesday. Traders and investors can connect up to seven exchanges, including Coinbase Pro, Kraken, Bitfinex, etc., using Cove Markets to trade over 50 major currencies and altcoins.The two trading firms said they plan to increase the volume of order routing and execution on Robinhood with the acquisition. Christine Brown, chief operating officer of Robinhood Crypto, made the following remarks regarding the development:The Cove Markets team’s wealth of experience in trading execution and crypto market infrastructure will help us to build more powerful trading capabilities, bringing the benefits of better competition in the crypto markets to our customers.Thrilled to welcome the @CoveMarkets team to Robinhood! Their incredible experience in trading execution and crypto market infrastructure will help us to build an even better crypto platform for all our Robinhood crypto traders. https://t.co/m4Wnl9Ojv3— Christine (Hall) Brown (@christine_hall) December 14, 2021Robinhood has taken a sharp focus on the cryptocurrency industry in recent years. The day prior, it announced a partnership with blockchain analytics firm Chainalysis to provide data and tools for the rollout of its native crypto wallet. Currently, the waitlist for such a feature, which is expected to launch early next year, has grown to over 1.6 million. But its stock investors have had a tough year. Shares are down nearly 70% since August highs after the company’s IPO.

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Robinhood partners with Chainalysis ahead of crypto wallet launch

Blockchain analytics firm Chainalysis will be partnering with Robinhood to provide data and tools for trading in advance of the app launching its crypto wallet.In a Monday announcement, Chainalysis said the integrated partnership with Robinhood Crypto will help the trading app meet compliance requirements ahead of the launch of its crypto wallet, expected to roll out for all users in early 2022. According to Robinhood, the platform will adopt Chainalysis’ Know-Your-Transaction, the firm’s monitoring compliance solution, in addition to Chainalysis Reactor, its investigations software. The trading app also said its teams would be using Chainalysis’ certification programs to achieve compliance.“Chainalysis works closely with regulators and law enforcement to develop industry best practices and that approach is aligned with Robinhood’s commitment to working with policymakers in a collaborative manner,” said Robinhood Crypto’s head of partnerships Ben Einstein.According to Robinhood, more than 1.6 million people are on the waitlist for a wallet which will support depositing and withdrawing Bitcoin (BTC), Ether (ETH), Dogecoin (DOGE), and other tokens. The trading app has been testing its digital wallet feature since it was first announced in September.First alpha transfer #WalletsAlpha https://t.co/nxOL23leGM— VLAD (@vladtenev) November 22, 2021Many government agencies and companies in the private sector employ Chainalysis as a solution to track both legitimate and illicit crypto transactions. When the U.S. Department of the Treasury announced it would impose sanctions on the Czech Republic and Russia-based business Suex OTC, it cited an investigation from the analytics firm.Related: BitMEX turns to Chainalysis to solve legal woes, or at least soften the CFTC’s blowAfter going public on the Nasdaq in July, the share price of Robinhood (HOOD) has steadily declined from an all-time high of $70.39 on Aug. 4 to $21.83 at the time of publication, a drop of roughly 70%.

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