Trading app Robinhood has reportedly formed a waitlist dedicated to the testing of a crypto wallet feature supporting tokens holding for its clients. 

Specifically, Robinhood is reportedly having plans down its pipeline to initiate the trial phase for a crypto wallet functionality available on its app, which supports the transferring and receiving of crypto, beginning October 2021. 

The initiative is reportedly expected to be the incentive reeling in an increased number of clients to Robinhood’s app for crypto trading, since the app only has facilitating features for US dollars-enabled crypto purchasing and trading, not for depositing or withdrawing. 

Robinhood has not offered specific details to the type of tokens viable to the digital wallet, but the app is offering free-of-charge trading for Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Bitcoin SV (BSV), Dogecoin (DOGE), and Ethereum Classic (ETC) at the moment. 

The firm reportedly shared its decision to design the wallet with built-in security features, including identity verification, multi-factor authentication, and email and phone verification “to keep coins safe from hacks and other threats.”

The trading app reportedly underwent an incline, popularity-wise, in early 2021, potentially because of retail investors from Reddit buying DOGE with a plan to amplify the price value. 

Since then, Robinhood has reportedly invested time and resources in introducing additional options to crypto traders, including a recurring investment update, which helps users finalize the buy of a variety of assets on a daily, weekly, bi-weekly, or monthly basis.