Robinhood expands its crypto wallet access to Android users

Robinhood expands its crypto wallet access to Android users is profiled by BTW Media because published evidence links it to internet infrastructure, governance, operational dependencies, or market visibility.

• Discount brokerage Robinhood has launched a crypto wallet for Android users, said on March 20.
• The iOS crypto wallet has surpassed 1 million users since its launch in March 2023.
• Currently, Robinhood allows users to trade major cryptocurrencies and altcoins directly. Up to now, it has launched crypto trading services in Europe and other 140+ countries.

Robinhood has expanded its crypto wallet access to Android users, available on Google Play.

Crypto wallet from Robinhood is now available on Google Play, whose iOS version has got a great amount of users

According to the March 20 announcement, the Robinhood Wallet app is now available on Google Play. The app’s description reads, “You can own and manage all your blockchain assets in your own self-custodial wallet that supports Ether, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base networks.” You can also exchange thousands of tokens on Ether, Arbitrum, and Polygon through the Decentralized Exchange (DEX) aggregator. The app has since surpassed 10,000 downloads.

On the same day, Robinhood Crypto Managing Director Johann Kerbrat revealed that the brokerage’s iOS crypto wallet has been downloaded “hundreds of thousands of times in over 140 countries and territories” since its launch in March 2023. At the time, the iOS cryptocurrency wallet had a waiting list of more than 1 million users. As with all self-holding wallets, private keys are stored directly in the Robinhood Crypto Android and iOS apps, which are inaccessible to developers and can also be backed up via Google Drive or iCloud.

Also read: Telegram Steps Into Crypto with TON Space Wallet Integration 

Robinhood expands cryptocurrency services globally and sees growth despite revenue decline

Currently, Robinhood allows users to trade main cryptocurrencies and alternative coins directly. In 2023, the company launched its “Robinhood Connect” program, which allows users to directly fund their cryptocurrency wallets through purchases on the Robinhood brokerage platform. The company reported annual trading revenue from client cryptocurrency trading activity of $135 million last year, a 33 percent decrease from 2022. Additionally, the company currently holds more than $14 billion worth of customer cryptocurrencies, compared to $8.4 billion in 2022.

On December 7, 2023, Robinhood launched its cryptocurrency trading service in Europe, Cointelegraph reported. All eligible customers in the European Union can access Robinhood’s cryptocurrency trading service with over 25 cryptocurrencies available for trading. The new EU Robinhood Crypto app also charges zero transaction fees, and customers will also receive a percentage of their trading volume in Bitcoin back each month.