Robinhood Launches Crypto Wallet for Android Users
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Robinhood Markets has announced the availability of Wallet for Android users worldwide, aiming to bolster adoption of cryptocurrencies and Web3 technologies.
On Wednesday, Robinhood Markets announced the launch of Robinhood Wallet for Android users worldwide. This move aligns with Robinhood’s mission to promote crypto adoption, solidifying its position as the most trusted and user-friendly platform for accessing cryptocurrencies.
Launch of Robinhood Wallet for Android Users: Expanding Accessibility to Crypto
In a press release on March 20, the commission-free stocks and crypto trading app announced the debut of Robinhood Wallet for Android users. This move is significant in advancing crypto adoption, especially considering that Android commands a 70% share of the global mobile OS market.
“Introducing Robinhood Wallet on Android marks a major stride in our commitment to enhancing crypto accessibility and seamless integration into the daily lives of millions worldwide,” stated Johann Kerbrat, GM of Robinhood Crypto.
The timing of the launch is opportune, coinciding with the crypto bull market, which presents millions of potential users worldwide with the opportunity to enter the crypto space.With the Wallet, Android users gain the ability to control their digital assets and hold private keys securely. 
The wallet facilitates storage, management, sending, and receiving of crypto across various networks, including Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base. Additionally, the Wallet provides features such as swapping, fund addition, and insights into trending tokens.
Robinhood’s Drive to Foster Cryptocurrency Adoption
Last week, research firm Bernstein issued an “outperform” rating for Robinhood Markets, with analyst Gautam Chhugani predicting a ninefold increase in cryptocurrency trade volume at the online brokerage over the next two years. Chhugani set a $30 price target for the stock, the highest among analysts tracked by Bloomberg.
Since expanding to the UK last year, Robinhood (HOOD) has seen its price surge by 40% year-to-date. As of Wednesday, the price stands at $17.74, representing an almost 3% increase.
In a recent development, Robinhood Europe added Circle’s USD Coin (USDC) to its platform, expanding its range of cryptocurrencies to over 25. Additionally, the crypto exchange introduced a program for USDC holders that offers potential rewards of up to 10%.
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