Robinhood Launches Its Web3 Wallet Beta Phase

Robinhood has unveiled the beta version of its upcoming Web3 wallet, focused on streamlining crypto trading. Thus, 10,000 lucky customers who have applied for the crypto and stock trading platform’s waiting list will be testing the wallet prior to its full launch.

Robinhood’s beta Web3 wallet is available exclusively on Apple’s devices. The app allows users to trade cryptocurrency while entirely eliminating network fees. There is also support for dApps, which enable users to earn yield. NFT trading is currently not available, but it will be once the wallet’s full version is launched.

As for the blockchain used, that’s Polygon. According to Robinhood’s representative, Polygon was chosen because of its scalability, speed, low fees, and healthy developer ecosystem. However, there are plans for the wallet to support additional blockchains in the future.