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The Robinhood crypto pockets has added help for Bitcoin and Dogecoin, its first enlargement past the confines of Ethereum.
“Starting in the present day, we have now launched custody, ship, and obtain help for Bitcoin and Dogecoin to all customers,” wrote Robinhood in a weblog publish.
Robinhood Pockets Replace 🚨Assist for custody, ship and obtain of BTC and DOGE is now out there to all customers, and in-app swaps on the Ethereum community are rolling out beginning in the present day. 🔥ETH swaps will develop into out there to everybody within the coming weeks. Keep tuned and be taught extra:…
— Johann Kerbrat (@JohannKerbrat) August 30, 2023
Robinhood has additionally enabled Ethereum swaps on the platform. In-app Ethereum swaps might be rolled out to pick out customers for greater than 200 token and can develop into out there to all others within the coming weeks, the publish stated.
Elevated Adoption of Robinhood App Led to This Determination
Robinhood’s pockets solely supported Ethereum and tokens constructed on the Ethereum blockchain when it was launched in March of this 12 months. Crypto evaluation platform Arkham Intelligence has not too long ago reported that Robinhood is the proprietor of the world’s fifth-largest Ethereum pockets, holding over $2.5 billion price of the world’s largest altcoin.
Since its launch, the Robinhood pockets was been adopted by a whole lot of 1000’s of customers in additional than 140 international locations. Presently, Robinhood has over 10.8 million lively month-to-month customers.
“With Robinhood Pockets, we stripped away lots of the complexities of DeFi and the broader Web3 ecosystem and decreased a few of the challenges and obstacles to entry for on a regular basis individuals,” stated Johann Kerbrat, GM of Robinhood.
“We’ve been actually inspired by the adoption to date and are excited to maintain constructing for our prospects world wide as we ship new options and develop help for brand spanking new networks and tokens.”
A number of Developments within the Robinhood Ecosystem
Since its launch, Robinhood Pockets has introduced a number of new additions.
Internet 3 Browser
Robinhood’s Internet 3 brokers let customers join decentralized purposes on to the wallets, giving them entry to an array of blockchain-related utilities.
Extra Networks
Whereas Robinhood began with supporting solely Ethereum and property constructed on the Ethereum blockchain, it later added help for Arbitrum and Optimism. The most recent addition of Bitcoin and Dogecoin has additional expanded the Robinhood community. The weblog publish has additionally acknowledged that the addition of safer layer 2 chains can also be within the works.
Fiat On-Ramp by way of Robinhood Join
US-based customers should buy and switch crypto utilizing Robinhood Join, a fiat on-ramp platform that lets customers switch crypto by way of debit, financial institution switch, and Robinhood stability.
Addition of USDC to the Rewards Program
Robinhood has began a number of rewards applications that permit customers study crypto and earn from it. Just lately, it has added USDC to this program.
Bitcoin Surpasses $27k; DOGE Additionally Buying and selling Within the Inexperienced
The information of Robinhood including help for Bitcoin and Dogecoin comes laborious on the heels of Grayscale’s victory over the US SEC within the Bitcoin ETF case.
The win boosted Bitcoin’s value by $1,700k shortly instantly after the information broke yesterday, pushing it previous $27k. At 6:00 am EST, Bitcoin was buying and selling at $27.2k.
Dogecoin adopted the worth motion intently, pushing via its psychological resistance of $0.065 to succeed in $0.066. At 6:00 am EST, DOGE was valued at $0.066.
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