Robinhood shareholders want crypto wallets and a hat

Aug 18, 2021 | CoinTelegraph News | 0 comments


Currently, users of popular stock and digital currency trading app Robinhood users can’t move their crypto off the platform.

Retail shareholders of crypto-friendly trading app Robinhood are demanding a crypto wallet along with a branded hat and hoodie, a public shareholders questionnaire revealed

The public question crowdsourcing platform Say, which was Robinhood’s first purchase after it went public, enabled retail shareholders of Robinhood to ask and upvote questions in a Reddit-style interface. “Management will address a selection of the most upvoted questions relating to Robinhood’s business and financial results on the earnings call,” Say explains.

The top question directed to the Robinhood management by retail shareholders as of Aug. 18 was about introducing a crypto wallet within the trading app. The question, “Is Robinhood getting a crypto wallet?” was shared more than 141,500 times and received over 1,600 votes.

Robinhood currently lists a bunch of popular cryptocurrencies like Bitcoin (BTC), Dogecoin (DOGE), Ether (ETH), Litecoin (LTC), Ethereum Classic (ETC), Bitcoin Cash (BCH) and Bitcoin SV (BSV) for trade on its platform.

While the users can buy, sell and hold listed cryptocurrencies within the app, they cannot access the coins themselves to transfer them to other wallets due to the lack of a crypto wallet feature. The company announced plans to offer crypto deposits and withdrawals way before its initial public offering, but the feature is yet to be introduced.

Related: Echoing GameStop saga, retail traders fuel Robinhood stock price hike

Questions about Robinhood’s roadmap for an international expansion and joint accounts came in second and third places on the platform, respectively. Interestingly, the question “as initial investor, can we get a Robinhood hat and hoody jacket?” was the fourth most popular question with more than 100,000 shares and 915 upvotes.

Following a clunky public debut on the Nasdaq stock exchange, Robinhood bought Say Technologies in a $140 million cash deal to bolster the relationship between the company and its retail shareholders. The trading app is also working on a feature to protect investors from the volatility of cryptocurrencies.

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