Robinhood Stock Trading App Teases Possible New Feature, May Add Crypto Wallet

Cryptocurrency and stock trading app Robinhood has asked its followers on Twitter to inform it about the one product feature they would “love to see” on the popular platform, and why would they want it to include a crypto wallet. This survey has prompted speculation that the brokerage app was testing some new features and may launch a cryptocurrency wallet and allow transfers of these virtual currencies. Last week, Robinhood said “we fully intend” to enable withdrawals and deposits of crypto coins.

Currently, traders can buy and sell crypto coins such as Bitcoin, Ethereum and Dogecoin, using the app. But once the new features and the wallet are online, they would also be able to manage all their crypto holdings through a wallet in the app.

Since the survey began, many people have been commenting on the post and Robinhood has replied to some of them.

A user boldly asked it allow “us to undo trades”. Taking the response in its spirit, Robinhood replied with a GIF of a man sitting on a chair and appearing to make a serious interjection to an ongoing debate. The text read, “Why would you say something so controversial yet so brave?”

It's not clear whether this feature was being considered by Robinhood. Also, there is no official information available about when Robinhood plans to launch new features. Robinhood CEO Vlad Tenev had previously said that adding a crypto wallet was a priority.

One user also asked Robinhood to list Shiba Inu coin, a meme-based cryptocurrency like Dogecoin, on its platform.

Bloomberg had reported that Robinhood was testing new features in a long-awaited move that would make it easier for customers to send and receive crypto coins.

After crypto wallets are available on the app, consumers would be able to use virtual currencies without having to convert them to dollars. They would also provide a single place for customers to store their cryptocurrencies, protected by a private key.