Digital Assets: Robinhood Testing Crypto Wallet Feature In Its App

September 21, 2021 | Digital Assets, News

Robinhood users will soon get a long-awaited wallet to store their cryptos.

Robinhood (NASDAQ: HOOD) users will soon get a wallet feature in their app allowing them to send and receive digital currencies, including bitcoin, into a wallet. They can, therefore, directly transact the cryptocurrencies without having to convert them into fiat. (Bloomberg)

Developer Stever Moser discovered hidden code

Developer Steve Moser found, inside a beta version of the Robinhood app, a hidden image of a waitlist page that would enable subscribers to sign up for the wallet feature.

The beta version also had code related to the transfer of cryptocurrencies.

Code also showed the existence of a two-factor authentication feature to secure the wallet.

In an earnings call in August, Vlad Tenev, Chief Executive Officer and Co-Founder, Robinhood, answered a direct question on whether Robinhood was working on a crypto wallet as follows:

“Offering crypto wallets and the ability to deposit and withdraw cryptocurrencies is tricky to do at scale – we want to make sure it’s done correctly and properly. And we want to make sure that everything from a security and operations standpoint is as bulletproof as possible because our top value is safety first.”

…”And we’re excited to roll this out for our customers. And we definitely hear you and it’s a key priority for our teams at Robinhood as well.”

Related Story: Square Mulling A Hardware Wallet For Bitcoin

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