Analysis

New Robinhood Feature Allows Users To Gift Crypto To Family And Friends

Trading app Robinhood has introduced a brand new characteristic that may permit customers to present cryptocurrencies to their family and friends. This comes as the vacation season is in full bloom and persons are scrambling to get the proper presents for his or her household and buddies this Christmas. This new characteristic will permit for the seamless switch of crypto from one consumer to a different contained in the Robinhood app.

Crypto Gifting Made Easy

Robinhood announced by way of a weblog publish on Thursday that it was rolling out a brand new characteristic on its platform. The gifting characteristic would permit customers to share crypto with their family and friends by means of the app. The push behind the characteristic was encouraging vacation customers to as an alternative skip the lengthy strains and pressures of last-minute looking for presents that find yourself nugatory after the vacations in favor of one thing that appreciates in worth like cryptocurrencies.

Related Reading | Crypto Market Bloodbath Creates Largest Stretch Of Fear Since April Peak

Robinhood has made its title as one of many main buying and selling apps within the United States, with 22 million customers within the nation. A big demographic is Millenials who usually tend to present crypto to their family and friends.

Users can select from a listing of seven cryptocurrencies that they wish to present to household and buddies after which ship the crypto present to them contained in the app. In addition, customers are capable of ship a singular design and private message with their crypto present to make it much more significant.

How To Gift With Robinhood

Inside the Robinhood app, customers can click on the “Gift” button after which select from a listing of seven cryptocurrencies that they wish to present. These embrace Bitcoin (BTC), Ethereum (ETH), and investor favourite Dogecoin (Doge). Next is to decide on the tactic of supply for the customers. This may both be by textual content or by electronic mail and the recipient will get a hyperlink to redeem the present.

Related Reading | FED’s Powell Doesn’t Think Crypto Risks Financial Stability

Once a crypto present is distributed, the recipient can have a complete of 14 days to redeem it. If they’re already a Robinhood consumer, they can redeem the present within the app. However, if they aren’t a consumer, they might want to signal as much as declare the present. If 14 days elapse and the recipient doesn’t redeem the present, then the crypto is distributed again to the sender for free of charge.

Robinhood customers can ship as little as $1 to their recipient of alternative and pay 0% in fee once they achieve this.

Featured picture from 9to5Mac, chart from TradingView.com

Related posts

ApeCoin Price Declines Regardless of Time’s Announcement Of Using APE As Payment

Crypto Advisor

The Bear Signal That Suggests Another Bitcoin Crash Is Coming

Crypto Advisor

Cash App Set To Bring Bitcoin Lightning Network To Its 36 Million Users

Crypto Advisor

Leave a Comment