According to the announcement made by Robinhood on Wednesday, March 20th, the Robinhood Wallet has been launched for Android users around the world. This positions Robinhood as one of the most reliable and easiest ways to use cryptocurrency, while expanding its mission to embrace crypto.
Robinhood for Android Users
Robinhood, which offers commission-free trading of stocks and cryptocurrencies, announced on March 20th that the Robinhood Wallet is now available for Android users.
With Android holding 70% of the global mobile operating system market share, this move is emphasized as a significant step towards the adoption of cryptocurrency.
Johann Kerbrat, General Manager of Robinhood Crypto, made the following statement:
Launching the Robinhood Wallet on Android is a major step forward in our commitment to making crypto more accessible and seamlessly integrated into everyday life for millions of people around the world.
The timing of the launch becomes even more significant as a potential bull market in cryptocurrencies could benefit millions of potential crypto users worldwide looking to engage in transactions.
During this process, Android users will be able to own their private keys and control their crypto assets through the Robinhood Wallet.
Users will be able to keep, manage, send, and receive their cryptocurrencies securely on supported networks such as Ethereum, Bitcoin, Dogecoin, Arbitrum, Polygon, Optimism, and Base by Robinhood.
Robinhood’s Crypto Adoption Initiative
Leading research firm Bernstein recently rated Robinhood Markets with an “outperform” rating, and analyst Gautam Chhugani predicted that the volume of cryptocurrency transactions on Robinhood could increase ninefold over the next two years.
Chhugani also set a high target price of $30 for the stock, the highest among Bloomberg-tracked analysts, drawing attention to his bullish outlook.
After entering the UK market last year, Robinhood (HOOD) shares have risen by 40% since the beginning of the year, pleasing investors. As of writing time on Wednesday, the price was trading at $17.74, nearly a 3% increase.
Recently, Robinhood Europe added Circle’s USD Coin (USDC) to its platform, expanding its crypto offerings to over 25 cryptocurrencies. Additionally, the exchange announced a rewards program for those trading with USDC, offering up to 10% rewards.
