Robinhood Markets (HOOD) has recently revealed ‘Robinhood Connect’ – a feature for its customers to fund their Web3 wallets and stay within a decentralized app (dapp). The concept of Web3 applications has grown in recent times and more people are utilizing it in their everyday activities. With the introduction of thisnew feature, Robinhood customers will no longer be required to go through different steps to access their currency.

The latest update is also a part of Robinhood's attempt to make the technology more widely available, by removing hurdles which have been hindering its adoption. Johann Kerbrat, General Manager of Robinhood Crypto, explained that they are trying to bridge the gap in Web3 and crypto, and make the usage of the technology easier and more affordable. He added that they are keen on positioning Robinhood as the lowest cost and easiest way to access crypto.

In order to make crypto trading even simpler, the platform has added extra features to its Robbiehood Crypto app. These will include advanced charts to provide insights into necessary trading strategies, pricing alerts option, ability to add stop and stop-limit orders to ensure desired asset prices and more.

Shedding light on the use of their crypto wallet, the company reported that a million wait-listed users had already been given access to the wallet, and their transaction-based revenue could reach up to $39 million from the last quarter.

As competition in the market gets tighter, they are challenged by the features of another popular crypto-trading giant, Coinbase (COIN). The latter provides its users with the ability to access tokens and dapps in their wallet, without having to leave the original currency.

All in all, Robinhood Connect looks to be a promising feature as it is set to simplify the process for users accessing their wallets and currency, and gain more attention in the market. With the inclusion of extra features, it looks to be an attractive offer for those who are looking to trade more easily and efficiently.



Other News from Today