“We are enabling our users to take the crypto that they own, move it off the app if they want to, opening up a broader crypto ecosystem,” said Robinhood Crypto COO Christine Brown. So on Wednesday, Robinhood announced it will launch a waitlist next month to start allowing withdrawals of coins like Bitcoin, Ethereum and Dogecoin, and that all users will be able to move coins onto or off the app by early 2022.
If they like what they see, they might not come back.īut stagnancy in this fast-paced market is an even greater risk, especially when splashy headlines about DeFi and NFTs show Robinhood Crypto customers what they might be missing. For a brokerage like Robinhood, it’s a huge risk to let your customers withdraw cryptocurrencies out of your perfectly pruned garden and into the vibrant and lucrative Wild West of decentralized finance.
