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Robinhood to Allow Customers Ability to Deposit and Withdraw Cryptos

Written by:
Gilbert Horowitz
Published on:
Feb/17/2021

Online broker Robinhood said on Wednesday it intends to give customers the ability to deposit and withdraw cryptocurrencies, including the meme-based dogecoin.  This may have been what caused the price of bitcoin to hit another all-time high of $52668 by Wednesday evening.

The trading app popular with young investors currently allows customers to buy, sell and hold cryptocurrencies such as Bitcoin on its platform, but users cannot withdraw their assets to transfer to other wallets.

Last month, Robinhood came under fire for preventing its users from buying crypto securities due to the volatile market conditions brought on by the trading frenzy of shares in GameStop Corp.

Robinhood disclosed it does not currently invest in cryptocurrency or use any customer cryptocurrency for its own benefit.

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