According to <a href="https://www.bloombergquint.com/onweb/robinhood-plans-crypto-expansion-with-new-gifting-feature" target="_blank" rel="nofollow noopener">reports,</a> Robinhood is working on a feature that would allow users to give crypto as a gift card to other users. The <a href="https://www.cryptoknowmics.com/news/robinhood-turns-to-chainalysis-to-boost-compliance-ahead-of-crypto-wallet-launch/">trading platform</a> is developing a digital gift card function that can be distributed with messages attached.
<h2>Crypto Gift Card Feature by Robinhood Exchange</h2>
The unexpected code in the beta version of Robinhood's iPhone app revealed that the business is considering adding a gifting feature that will allow users to send cryptocurrency to each other in the form of digital gift cards. According to the code, users will be able to give <a href="https://www.cryptoknowmics.com/news/elon-musk-says-bitcoin-suitable-for-store-of-value-whereas-dogecoin-for-transactions/">Bitcoin</a> and other cryptocurrencies as digital gift cards, along with notes of up to 180 characters in length. It will enable users to retract the cryptocurrency gift anytime before it has been accepted. As per the report, Robinhood users will not be able to use the service for the time being. When the new capability is available has yet to be determined by the company.
<h2>Robinhood's Cryptocurrency Wallets</h2>
As per the report, the platform's users will not be able to use the service for the time being. When the new capability is available has yet to be determined by the company.

New features, such as support for bitcoin wallets, were previously revealed in beta versions of crypto exchange apps.

As digital assets have been a critical source of revenue for Robinhood in recent quarters, the business is extending its bitcoin service offerings.

While bitcoin trading income fell in Q3, Robinhood CEO Vlad Tenev remained upbeat about the company's digital asset prospects.

Tenev revealed that over one million customers have signed up for the platform's digital wallet queue and that the company has the potential to become one of the most reputable crypto investment platforms.

By early 2022, the crypto exchange anticipates its cryptocurrency wallet to be available to its users.

In addition, the trading platform recently announced that it would use Chainalysis' data tools to meet compliance standards to keep accounts safe. The trading platform will use the Chainalysis KYT to highlight dangerous and unlawful transactions in real-time.

Robinhood to Roll Out Crypto Gift Card Feature - Reports

Robinhood is working on a feature that would allow users to give crypto as a gift card to other users according to reports.

Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

Robinhood to Roll Out Crypto Gift Card Feature - Reports

Top Picks