After an extended stretch of solely providing Polygon (MATIC) in its Web3 pockets, Robinhood shocks the crypto house with its announcement that it’s including two distinguished cryptocurrencies, Bitcoin and Dogecoin, into its pockets choices. 

Dogecoin And Bitcoin Now Out there On Robinhood Pockets

California-based monetary providers firm Robinhood has introduced its new itemizing of Dogecoin and Bitcoin in its self-custodial Web3 pockets, Robinhood Pockets. 

The press launch comes as an exciting shock for cryptocurrency buyers, as customers can now have entry to BTC and DOGE tokens by way of their Robinhood wallets.

Responding to its customers’ pleas, Robinhood Pockets revealed that it was including Bitcoin and Dogecoin blockchains, which implies it now helps a complete of six blockchain networks, together with Polygon, Optimism, Ethereum, and Arbitrium. 

The monetary providers agency has additionally launched a Web3 Browser which can enable its customers to hyperlink their wallets on to decentralized purposes (dApps). 

Christine Brown, Robinhood’s Head of Crypto spoke enthusiastically on the newly added tokens within the Robinhood Pockets. She acknowledged that the 2 tokens had been some of the distinguished cryptocurrencies within the house and the monetary providers agency appears to be like ahead to its customers to profit from buying and selling and investing within the newly listed cryptocurrencies. 

“We’re excited so as to add Bitcoin and Dogecoin to Robinhood Pockets. These are two of the preferred cryptocurrencies on the earth, and we’re glad to provide our customers the flexibility to retailer, ship, and obtain them,” Brown acknowledged. 

Robinhood Crypto GM, Johann Kerbat additionally welcomed the brand new addition to the Robinhood pockets. He acknowledged that the Robinhood pockets goals to facilitate adoption and scale back the challenges confronted by the DeFi ecosystem. 

He defined that Robinhood will proceed to fulfill its consumer’s wants because it advances and improves its platform with extra distinctive options. 

“With Robinhood Pockets, we stripped away lots of the complexities of DeFi and the broader Web3 ecosystem, and lowered a few of the challenges and obstacles to entry for on a regular basis folks,” Kerbat stated. 

He added, “We’ve been actually inspired by the adoption thus far, and are excited to maintain constructing for our prospects around the globe as we ship new options and increase assist for brand new networks and tokens.”

HOOD inventory value sitting above $11 | Supply: Robinhood Markets, Inc. on Tradingview.com

Robinhood Pockets Adoption Poised For Enhance Following In-App Ethereum Swap Function

Earlier in 2022, Robinhood launched a beta model of its crypto pockets and the demand for the pockets was staggering, with over 2 million customers on the waitlist. At present, the Robinhood Pockets boasts a whole lot of hundreds of customers based mostly in additional than 120 nations across the globe. 

The Robinhood Pockets shall be providing in-app swaps on Ethereum for chosen customers, permitting them to commerce their ETH for over 200 completely different ERC-20 tokens accessible on the platform. The pockets is at present accessible for all customers in the USA.

In a weblog put up, Robinhood described the brand new Ethereum swapping characteristic now accessible on its Robinhood Pockets, saying:

“Not like different wallets, customers can swap with out holding Ethereum, and community charges are mechanically deducted from the tokens they already maintain, making it simpler for everybody to get began and use DeFi.”

The Robinhood Pockets is accessible for iOS customers to commerce and swap cryptocurrencies. The monetary providers firm additionally beforehand listed USDC, its first stablecoin, in its portfolio, doubtlessly closing the hole with the stablecoin’s main competitor, USDT.

Featured picture from PYMNTS, chart from Tradingview.com