Robinhood Starts Web3 Wallet Beta

Robinhood has begun rolling out its web3 wallet beta, starting with wallet compatibility for the Polygon blockchain.

The first 10,000 users on the Robinhood waitlist will now have access to the web3 wallet application, which allows users to buy, sell, and swap cryptocurrencies with no network fees.

Not to be confused with Robinhood's traditional equity trading application, the web3 wallet offered by Robinhood will be a completely new application according to the site.

In addition to the trading of cryptocurrencies, the non-custodial wallet offered by Robinhood will also allow users to "store NFTs and connect to NFT marketplaces, and connect to decentralized applications."

However, while the compatibility of the Polygon blockchain would seemingly allow users of Polygon-based NFT games like Zed Run or CryptoRaiders to utilize the Robinhood web3 wallet, it is not clear if these platforms will offer an easy connection to the Robinhood wallet.

Those hoping to gain access to the Robinhood web3 wallet will need to join the waiting list, which at present time has amassed more than one million signups. Users that refer others to the waiting list can "jump the line" to be granted access sooner.

Robinhood's documentation indicates that there is no official date for the release of the web3 wallet to the broader public.

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Logan Hitchcock

NFT Analyst

Logan is a content lead at Lucky Trader and is best known for selling every good NFT far too early. He also maintains an irrational exuberance for clay-based NFTs.

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