Wen Wallets? Robinhood Teases Crypto Wallets With New Website

The rise of interest in the cryptocurrency markets has led to many stock investing platforms offering cryptocurrencies to trade. Some of the platforms offer direct exposure through crypto wallets and others allow buying and selling of the cryptocurrencies in a manner similar to a stock.

Crypto enthusiasts have pushed on companies like Robinhood Markets (NASDAQ: HOOD) to include crypto wallets and used a phrase “not your keys, not your Bitcoin” to educate on the differences between exchanges.

What Happened: Robinhood has hinted at adding cryptocurrency wallets for some time and was recently seen testing out several new features.

On Wednesday, Robinhood crypto COO Christine Hall shared an update on the rollout.

“Wen wallets? Starting next month, a small group of customers will begin testing wallets on Robinhood. After that, we’ll be rolling out access to more and more people,” Hall tweeted.

A blog and updates will come sharing the results from the initial group of customers in the company’s “Alpha program.”

With Robinhood wallets, users would be able to transfer Ethereum (CRYPTO: ETH) to buy NFTs, use Bitcoin (CRYPTO: BTC) for purchases and send Dogecoin (CRYPTO: DOGE) to friends, Hall added.

The delay for wallets came as the company wanted to make sure transferring crypto was “safe, secure and simple,” according to Hall, who recognizes the wallets could represent the first transfers some crypto owners make.

“Wallets is just the beginning of our commitment to making crypto accessible to all.”

Hall highlighted the company’s recent recurring investment offering for crypto in the tweet as well.

Related Link: Robinhood Said To Be Testing Long Awaited Wallet Transfer Features For Cryptos Like Bitcoin, Dogecoin & Ethereum 

Wen Wallets Website: Robinhood launched a signup for the Robinhood wallets under the website wenwallets.com, which could be the perfect response to a question they got asked a lot.

“Gotta hand it to @robinhoodapp @valdtenev @christine_hall, this is an exception website url,” Dogecoin creator Billy Markus tweeted.

The website features a gif using a scene from “Seinfeld” with Robinhood founder Vlad Tenev’s face on George Costanza opening his wallet.

Users can push one of two buttons on the website depending on if they are an existing Robinhood user or a new customer. Both buttons redirect to the Robinhood website.

Tenev took to Twitter to share the website and offered up a famous meme of a person struggling over which red button to push. The buttons were labeled “continue to spam Robinhood about wallets” and “Sign up for the wallets waitlist.”

HOOD Price Action: Robinhood shares gained 10.85% Wednesday, closing at $46.88.