Robinhood has been one of the top-tier exchange platforms. Any news on Robinhood is of immense importance for traders and investors. Meanwhile, The exchange platform has been gaining limelight across public platforms. With news revolving around the firm.
The platform discloses that 1.6 million people are awaiting the crypto wallet from the exchange platform. Which will be bullish for the cryptos listed on the platform. Moreover, the listing of the Doge-killer also remains off the horizon.
This Is Why Crypto Wallet Will Be Bullish for Cryptos!
Robinhood had opened the waitlist for the withdrawal feature. Which has garnered immense interest that grown to 1.6 million users from 1 million in a short time frame. Currently, traders can buy and sell representations of the digital asset that they hold. And not the actual asset.
The crypto wallet will enable users to move digital currencies in and out of their accounts. And can further participate in De-Fi and other platforms from the crypto world. The move holds immense potential to accompany a bullish scenario for the cryptos listed on the platform.
As the listings will now likely be backed by the actual assets. The massive userbase of crypto holders in Robinhood might bring massive impetus to the valuation of the space. The crypto wallet will likely arrive by late Q1 of 2022. Which is in the queue for a brief period of time.
Robinhood Will Not SHIB ?
The SHIB Army has been eagerly waiting for SHIB’s listing on Robinhood. Meanwhile, speculations of the meme coin’s listing on the exchange platform have been making rounds. However, Robinhood COO Christine Brown has confirmed at a live event that, the firm will be adhering to regulatory clarity.
And the firm doesn’t want to trade off long-term gains over short-term gains. The listing of SHIB post wallet implementation could give a better headstart to the coin, as it will be backed by the actual asset. Which the traders and investors embrace. However, SHIB has been available on Canada’s version of Robinhood, which is called WealthSimple.
Collectively, the move will bring immense value to the industry. Which the users of the exchange platform have been waiting for. The implementation will be beneficial for Robinhood as well, as it would see an influx of newer users in the platform. On the other hand, the firm has confirmed resolving the issue affecting bank transfers for some users. And has also confirmed that there have been no financial losses from the recent breach. Which has restored faith among users.