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Robinhood Enabling On-Chain And Lightning Withdrawals For Bitcoin

Robinhood Enabling On-Chain And Lightning Withdrawals For Bitcoin thumbnail
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Robinhood introduced the addition of cryptocurrency investments to its platform in January 2018. But, a lot to the chagrin of Bitcoiners, the app didn’t embrace the choice to withdraw property from the platform.

Robinhood introduced an alpha model of its proprietary cryptocurrency pockets in September 2021 and the beta model on January 3, 2022 (in any other case often known as “Proof Of Keys Day”). With a million customers signing up in lower than 30 days to entry the pockets, it’s clear that Robinhood prospects need entry to the personal keys similar to the cryptocurrency they buy by way of the platform.

Robinhood’s chief product officer, Aparna Chennapragad, took the stage at Bitcoin 2022 to elaborate on how the corporate is responding to that demand. 

First underscoring the expansion that bitcoin is seeing in the meanwhile, she famous that, “More than 50% of our prospects are new buyers.”

One-third of Robinhood’s prospects are girls and the group of consumers is extraordinarily various. Chennapragad believes, “It’s essential to have protected and safe entry to bitcoin.” 

According to the slide deck, “Bitcoin is the number-one recurring purchase asset for 2022” for Robinhood.

And, critically, Chennapragad introduced that greater than two million individuals on the Robinhood waitlist can now ship and obtain bitcoin to and from the app as Robinhood unveiled withdrawals and deposits at Bitcoin 2022.

Additionally, Chennapragad introduced Robinhood’s intention to carry Lightning Network to the platform within the close to future. Its causes for doing so embrace the quick transactions, low-fee transfers and decrease carbon footprint that Lightning funds allow

Bitcoin 2022 is a part of the Bitcoin Event Series hosted by BTC Inc, the dad or mum firm of Bitcoin Magazine.

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