Popular cryptocurrency and stock trading platform Robinhood has announced that it will enter the NFT space with its standalone Ethereum wallet similar to Coinbase and Metamask, which is Web3-focused.
Full Control to Investors
However, Robinhood stated that it will provide secure storage of NFTs with its non-custodial crypto wallet designed to be compatible with NFT marketplaces. With this new standalone cryptocurrency wallet, investors will be given full control over their NFTs and digital assets.
However, the company used these statements about the cryptocurrency wallet it is preparing to launch:
“With this model we created, we plan to renew users’ crypto wallet experience and appeal to more investors. Known for its intuitive design and seamless interface, our firm aims to launch a new user-friendly Ethereum wallet with a security protocol that allows users to get the protection they deserve for their NFT and other digital assets. One advantage of our new technology is that if investors lose their private keys, there is less risk of the funds being wiped out.”
On the other hand, in a statement regarding the new wallet, the company stated that it has spoken to many crypto money users and developed the wallet, taking into account the complaints of investors about the fees paid for purchasing digital assets.
“Zero Wage Model”
Robinhood’s CTO Johann Kerbat stated that the new cryptocurrency wallet they created works in a similar way to the zero fee model Robinhood uses.
In its statement, the company claimed that in addition to these opportunities, with the new wallet it offers to users, they can enjoy crypto currency trading activities without paying gas fees.
In addition, Johann Kerbat states that they tend to work with their liquidity partners to get the best deals.
It is stated that this new crypto money wallet, developed by Robinhood, will be offered to its users with a beta version until the end of the year.