Robinhood Crypto Introduces Connect to Simplify Web3 Access

Quick take:

• Robinhood Crypto has introduced a new payment feature called Connect.
• It allows users to fund their wallets without leaving dApps or being in their Robinhood Crypto accounts.
• The feature will initially be available on Phantom and Exodus web3 wallets.

Robinhood has announced the launch of “Connect”, a new web3 payments feature that allows users to fund their web3 wallets without leaving dApps. Developers can directly embed the feature into their dApps allowing their customers to easily buy, sell and transfer crypto assets.

“Crypto and Web3 have the potential to change the future of the financial system for the better, but we recognize there are still significant hurdles preventing broader adoption,” said Johann Kerbrat, GM of Robinhood Crypto. 

“Our conviction in the future of Web3 remains strong, and we’ve continued to build new products that put the accessibility and usability of crypto front and centre for customers, positioning Robinhood as the lowest cost, easiest to use on-ramp to crypto.”

The new feature will first debut on the Phantom and Exodus wallets enabling fiat-crypto on-ramps. The company plans an expanded rollout to other platforms in the coming months.

The app’s new feature comes following a series of upgrades including an introduction of a crypto home tab. It also features advanced charts, allowing users to easily fine-tune their trading strategy and track technical indicators—like MA, RSI, Volume, MACD, EMA, VWAP, and Bollinger bands.

Users can also use price alerts to trade on the go and set up personalised trading alerts based on their investment strategy. It also allows them to use advanced order types, which include the ability to place stop orders and stop limit orders.

There is also a learn-and-earn feature, an educational program that rewards users for completing various learning tasks like video lessons and quizzes.

Robinhood has made significant movements in web3 over the past 12 months. Last May, it announced the launch of the wallet app allowing users to custody cryptocurrency and NFTs. The upgraded mobile wallet app launched in January 2023, allowing users to swap crypto free of network fees, and store and display NFTs.

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