Robinhood Is Testing Bitcoin and Crypto Withdrawal Feature And New Digital Wallet

Robinhood is finally testing Bitcoin and crypto withdrawals, as well as a new digital hot wallet, Bloomberg reported on Monday. 

The update comes after the past year of broad criticism of Robinhood for, among other things, not allowing users to control their own Bitcoin private keys. The firm repeatedly hinted at enabling such features without delivering any evidence that such products were being developed.

Robinhood’s new hot wallet and Bitcoin and crypto transfer feature announcement also comes after a mounting demand by customers. Bloomberg reported that evidence of such features has appeared in a beta version of the trading platform’s iPhone app. Rather than providing photos or other evidence of such features, Bloomberg stated that “The software includes a hidden image portraying a waitlist page” for users to sign up, and attributed the discovery of said features to software developer Steve Moser.

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