Robinhood Crypto Wallet Adds Bitcoin and Dogecoin Support

The company first rolled out its Web3 wallet to select users in September 2022, initially only supporting Polygon. Over the past six months, Robinhood has added support for Ethereum, Arbitrum, and Optimism as well, based on user demand for more networks.

Now Bitcoin and Dogecoin have been added, allowing Robinhood wallet users to custody, send, and receive the two major cryptocurrencies natively. Additionally, the wallet has enabled in-app Ethereum token swaps for over 200 tokens, with the feature set to roll out more widely in the coming weeks.

Robinhood Environments Providing Easy Access to Web3

According to Robinhood Crypto GM Johann Kerbrat, a key goal of the Robinhood wallet is to provide easy access to Web3 and DeFi features for everyday investors. By expanding network support beyond just Polygon and Ethereum, the wallet provides greater flexibility and options for users.

The wallet integration comes alongside Robinhood Connect, launched in April, which lets users purchase crypto on Robinhood and transfer it to external wallets.

As one of the most popular consumer trading apps, Robinhood provides exposure to crypto for millions of retail investors. Expanding its wallet and transfer functionality gives users greater control over their holdings.

Robinhood stated it is working to enable more layer-2 network support in the future based on user demand. By incrementally adding new blockchain integrations, Robinhood seeks to balance convenience and versatility within its crypto product ecosystem.