Robinhood has expanded its cryptocurrency wallet services to Android users, making it easier for individuals to adopt digital assets and conduct transactions seamlessly. This move follows the initial launch of Robinhood’s Wallet for iOS users, demonstrating the company’s commitment to improving accessibility and integrating cryptocurrencies into daily transactions worldwide.

The transition from beta to general release now allows individuals on the public waitlist to access the Robinhood Wallet on their Android devices. Johann Kerbrat, Robinhood Crypto General Manager, views this Android launch as a significant step in the company’s mission to democratize cryptocurrency usage.

The recent performance metrics of Robinhood also reflect the platform’s growth in the crypto space. In the fourth quarter of 2023, the company reported a 10% increase in crypto revenue, amounting to $43 million. Moreover, there was an 89% surge in notional crypto trading volume compared to the previous quarter. This growth is attributed to increased customer activity and the strategic expansion of the crypto trading app to the European Union market.

The Robinhood Wallet, a self-custodial solution introduced last year, has garnered significant adoption, with hundreds of thousands of downloads globally. It supports various functionalities, including sending, receiving, and storing cryptocurrencies on popular networks like Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base.

Users of the wallet can also facilitate token swaps on Ethereum, Polygon, and Arbitrum through decentralized exchange aggregators like the 0x API and LI.FI. Notably, there are no service fees imposed on these transactions, although standard blockchain transaction fees apply.

For more insights on the crypto market, you can read about QCP Capital’s prediction of a larger bull run post-Bitcoin halving.

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