{"id":18769,"date":"2022-05-21T07:20:40","date_gmt":"2022-05-21T11:20:40","guid":{"rendered":"https:\/\/pley2win.com\/metaverse\/everything-about-robinhoods-nft-crypto-wallet\/"},"modified":"2022-05-21T07:20:40","modified_gmt":"2022-05-21T11:20:40","slug":"everything-about-robinhoods-nft-crypto-wallet","status":"publish","type":"post","link":"https:\/\/pley2win.com\/?p=18769","title":{"rendered":"Everything About Robinhood’s NFT & Crypto Wallet"},"content":{"rendered":"
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Early this week, online brokerage platform Robinhood revealed its upcoming Web3 wallet that allows anyone to have total control over their NFT and crypto assets.<\/p>\n
Make no mistake, the platform did launch its first crypto wallet back in April this year. But users can only trade a limited amount of cryptos using that wallet. So what\u2019s new with the latest Web3 wallet by Robinhood? Let\u2019s take a look!<\/p>\n\n<\/picture>Oh, Zapp!! Something Web3\u2019s coming to you soon! Credit: Turner Entertainment Co.<\/figcaption><\/figure>\n
What can you do with Robinhood\u2019s brand new Web3 wallet?<\/h2>\n
To begin with, Robinhood claims that the new NFT and crypto wallet will be non-custodial in nature. Meaning to say, you will be the one holding the private keys to your wallet, instead of the platform itself. What\u2019s more, the wallet will be a standalone app, made available on multichain.<\/p>\n
Apart from holding the keys to your own NFT and crypto assets, there\u2019s so much more that you can do with the Web3 wallet by Robinhood. First off, you can trade and swap cryptos with zero network fees. This is definitely one of the key features of Robinhood, as the app offers commission-free stock trading services to its customers as well.<\/p>\n
Next, you can store your precious NFTs and connect them to NFT marketplaces through the wallet. On top of that, the wallet will provide you access to various crypto assets in the market. Plus, those who choose to store their coins in their wallet will earn yields from their assets as well.<\/p>\n\n<\/picture>Soon, you can trade both NFTs and cryptos using Robinhood\u2019s latest Web3 wallet. Credit: Robinhood.<\/figcaption><\/figure>\n
Sounds cool! Where can I download the Web3 wallet then?<\/h2>\n
Just chill! As of writing, Robinhood\u2019s Web3 wallet is not available to the public yet. But no worries anon. You can now sign up to join the waitlist first.<\/p>\n
According to Robinhood, the team will start inviting those on the waitlist to join its Beta program this summer. By end of this year, the Web3 wallet will be made available to all of its customers.<\/p>\n
And for fellow NFT and crypto enthusiasts, here\u2019s a quick tip on how you can (possibly) get a first hand on Robinhood\u2019s Web3 wallet. It\u2019s easy: Just invite as many people as you can to the list using your personal referral link.<\/p>\n
That\u2019s because, whenever a person joined using your link, your ranking will move up by half of your current spot on the list. The best part is, there\u2019s no limit to how many people you can invite. So what are you waiting for? It\u2019s time to grind for a spot!<\/p>\n
Can Robinhood compete with the likes of MetaMask and Coinbase?<\/h2>\n
It will be interesting to see how Robinhood competes with other NFT and crypto wallet providers such as MetaMask and Coinbase who are pioneers well known in the space. For instance, MetaMask has more than 30 million monthly active users (MAU) as of March 2022. As a comparison, Robinhood only has 15.9 million MAU in the same month.<\/p>\n
But there\u2019s still a chance for Robinhood. Given the simple, user-friendly UI in Robinhood coupled with zero network fees to trade cryptos, the platform might just end up attracting more users to its app.<\/p>\n
\u201cAt Robinhood, we believe that crypto is more than just an asset class,\u201d said Vlad Tenev, CEO of Robinhood. \u201cBy offering the same low cost and great design that people have come to expect from Robinhood, our Web3 wallet will make it easier for everyone to hold their own keys and experience all the opportunities that the open financial system has to offer.\u201d<\/p>\n
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All investment\/financial opinions expressed by NFTevening.com are not recommendations.<\/em><\/p>\n
This article is educational material.<\/em><\/p>\n
As always, make your own research prior to making any kind of investment.<\/em><\/p>\n<\/div>\n<\/div>\n
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