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Recently, popular not for profit crypto trading platform Robinhood came up with the update for their customers. Robinhood is reported to enable trading of the Avalanche blockchain’s native asset AVAX token on its platform. Now platform users can trade AVAX token along with Stellar (XLM) token.
In July, the trading company began the roll out of bitcoin (BTC) transfers for their customers. However the trading operation took time till late September to get entirely operable. Earlier it was reported the users were not able to move their tokens over the platform—in and out of the app of Robinhood.
Meanwhile, alongwith the AVAX token’s offering, Robinhood also allowed the customers on its platform. These assets include bitcoin (BTC), Bitcoin Cash (BCH), Chainlink (LINK), Litecoin (LTC), Shiba Inu (SHIB) and several other popular altcoins.
Additionally, the crypto trading platform also supports Polygon (MATIC) cryptocurrency’s multi-chain transfers. Initially, the crypto assets were only limitedly available on the blockchain network of Ethereum (ETH). However, Robinhood’s app later went on to enable transfers of assets over the Polygon (MATIC) network.
The users over the trading app, in order to achieve the capability of transferring the tokens, so that they can verify their identity over the platform. Currently, the limited amount of crypto assets for a Robinhood user is up to 5,000 USD.
Robinhood went on to introduce their Web 3 cryptocurrency wallet’s beta version earlier this week. Moreover, Polygon based crypto wallet users available on the platform reached up to 10K users.
The wallet allows its users to connect with decentralized applications so that they can earn yield from it. On top of that, the brokerage firm also stated that the application would also allow users of services related to trade tokens with no fees of using the network. At the end, the wallet’s final version will also be supporting the new age blockchain based assets—non-fungible tokens (NFTs).
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
