Robinhood, a trading platform, is launching a program that allows users to give cryptocurrency gifts, such as bitcoin, dogecoin and ether. Gifts are free of commission and can be given for as low as $1.
Robinhood’s Crypto Gifts Program
Robinhood Crypto announced Thursday that it will launch its “Cryptocurrency Gifts” Program.
Robinhood’s website explains that users can give as little as $1 in cryptocurrency. However, it may take up to 3-5 days for the fund settle. Robinhood explained that gifts are free of commission, as is crypto trading.
After you have customized your gift, you can send it to someone special via a link that will go directly to their phone.
The program for crypto gifts will launch in December 22. Robinhood’s website states that crypto gifts aren’t available in Nevada and Hawaii.
Robinhood’s terms and conditions for crypto gifts detail: “Once the Sender confirms the requested amount of cryptocurrency, the sender will share a link to the gift. The recipient can then use this shared link in order to accept the gift.” The company also added:
To accept the gift, make sure that your recipient has a Robinhood crypto account within 14 time. If gifts are not accepted, don’t worry. You won’t be charged and you will still have bragging rights for giving out crypto during the holidays.
Robinhood Crypto supports the buying and selling of bitcoin (BTC), Bitcoin Cash (BCH), Bitcoin sv (BSV), Dogecoin(DOGE), Ethereum (ETH), Ethereum Classic (ETC), as well as real-time market data.
Robinhood has been petitioned by supporters of the meme cryptocurrency shiba, inu to list SHIB. Robinhood has previously stated that it does not have the time or desire to list any other cryptocurrency.
Robinhood’s third quarter transaction-based revenue was $267 millions, with $51million coming from cryptocurrency trading. Additionally, 40% of Robinhood’s cryptocurrency transaction-based revenues for the three months ending Sept. 30 were attributable to transactions made in dogecoin.
Chainalysis announced earlier this week that it had partnered with Robinhood in order to improve the trading platform’s compliance before its launch of its crypto wallet.
What do you think of Robinhood’s crypto gifts program launch? Comment below to let us know your thoughts.
Kevin, a student of Austrian Economics and evangelist since then. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.
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