Robinhood’s Bitcoin Withdrawal Feature Has 1.6 Million People On Waitlist

  • Robinhood COO said 1.6 million people are on the company’s waitlist for withdrawing bitcoin.
  • The long-awaited feature would come as a cryptocurrency wallet to the firm’s trading app.
  • It is still unclear when customers will be able to take ownership of their bitcoin.

Robinhood now has 1.6 million people on the waitlist for its bitcoin and cryptocurrency wallet, its COO Christine Brown said on Tuesday, per a Reuters report. Among other properties, the wallet, to be added to its app, includes the vital feature of withdrawing bitcoin into a self-sovereign wallet of choice, something the broker currently doesn’t offer in its trading platform.

The way the Robinhood trading app currently works, users buy and sell representations of BTC and any other cryptocurrency instead of the bitcoin itself  effectively an IOU. A customer can only be sure they have bitcoin once they transfer it to a wallet for which they control the private key.



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