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Robinhood Introduces Crypto Wallet for iOS, Supports Polygon and SHIB

US-based trading platform Robinhood has launched a new crypto wallet on the Apple Store for iOS devices. The new crypto self-custody wallet supports Shiba Inu’s SHIB and Polygon’s MATIC and has seen downloads from more than 100 countries.

A Crypto Wallet For Apple Devices

According to the official announcement, the wallet allows users to trade and swap crypto assets and connect to multiple blockchains and decentralized applications. Robinhood revealed that the wallet is integrated with powerful features that offer more than just features of a typical digital asset wallet.

Furthermore, the trading firm disclosed that it is currently working on ensuring the latest product is user-friendly and innovative by offering different degrees of experience for the next generation of Web3 enthusiasts. Meanwhile, the new wallet comes with a reward of 5 USD Coins (USDC) for users who transferred $10 worth of crypto assets or 1 USDC after transferring $10 from any crypto exchange using the wallet.

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So far, reports indicate that Robinhood’s crypto wallet has received positive user feedback. According to the general manager of Robinhood crypto, Johann Kerbrat, users revealed how accessible and easy to use the application is, and they are attracted to the self-custody crypto features.

Kerbrat added that based on the feedback, users want the addition of more crypto tokens from other chains and that Robinhood has responded by adding support for Ethereum. However, the general manager explained that despite the tumultuous few months the industry has experienced, Robinhood is committed to becoming the most trusted, affordable, and easier-to-use crypto trading platform.

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Robinhood is one of the few traditional trading firms that have made relative success in the crypto business. The firm has partnered strategically with numerous firms to integrate payment solutions for cryptocurrency.

Is Robinhood’s Android Wallet Ready?

Like most businesses, Robinhood has revealed that it knows the risks associated with trading in crypto assets. As a result, iOS users are required to set up different security layers to safeguard their assets.

On whether the company will launch the Android wallet, Robinhood disclosed that the crypto wallets for the Android operating system would debut later in the year and did not provide any specific date. The trading firm explained that interested users could join the waitlist and secure their space pending when the wallet is open to the public.

In the next few months, Robinhood plans to launch a Web3 browser to gain a solid foothold in the digital asset industry and expand its reward program. Meanwhile, the iOS wallet can support several ERC-20 tokens besides Polygon and Ethereum.

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The tokens are some of the most widely used in crypto transactions and the decentralized finance (DeFi) sector. Users can also access non-fungible tokens on the Ethereum and Polygon blockchains and store their digital collectibles in their crypto wallets.

Transactions conducted with Polygon come with zero fees which is why many users love it. Meanwhile, the platform intends to expand its crypto coverage to include other digital assets.


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Bradley Nelson

Bradley Nelson is a US based cryptocurrency news writer for Tokenhell, he helps readers stay up to date with the latest trends and news from the blockchain and crypto world. Bradley has been a crypto enthusiast since 2018.

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