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Robinhood to allow customers to deposit, withdraw cryptocurrencies


Online broker Robinhood said on Wednesday it intends to give customers the ability to deposit and withdraw cryptocurrencies, including the meme-based dogecoin.

The trading app popular with young investors currently allows customers to buy, sell and hold cryptocurrencies such as Bitcoin on its platform, but users cannot withdraw their assets to transfer to other wallets.

‘GameStop effect’ could ripple further as Wall Street eyes short squeeze candidates

In January, Robinhood had temporarily disabled a feature on its app that allowed users to buy crypto securities instantly due to volatile market conditions sparked by a trading frenzy in shares of GameStop Corp. The brokerage faced criticism from users who could not move their assets to other wallets.

Robinhood lifts trading restrictions on all stocks, including GameStop

As part of a series of tweets here, Robinhood said on Wednesday it does not currently invest in cryptocurrency or use any customer cryptocurrency for its own benefit.

https://twitter.com/RobinhoodApp/status/1362143073510121472

https://twitter.com/RobinhoodApp/status/1362143074571362305

https://twitter.com/RobinhoodApp/status/1362143075485671424





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Written by Atif Hasnain

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