Robinhood unveils new method for users to fund their web3 wallets

Robinhood unveils new method for users to fund their web3 wallets

Robinhood users can now fund their web3 wallets without having to leave a dApp or be in their crypto accounts. The company announced this at the Consensus 2023 conference in Austin, Texas, among other consumer-friendly changes to the service across all platforms.

Dubbed “Robinhood Connect,” the firm released the feature to make DeFi more accessible. Robinhood debuted Connect on MyDoge, Giddy, and Slingshot, and it’s coming to other popular wallets like Phantom and Exodus soon.

According to a statement from the company, developers can embed the feature into their dApps to allow users to buy and transfer crypto with Robinhood without actually opening the Robinhood app.

“Developers benefit from being able to quickly embed the feature directly into their dApps, allowing their customers to use Robinhood Crypto to buy and transfer crypto,” the statement read.

More changes to the Robinhood app

While Robinhood Connect stole the show at Consensus 2023, it wasn’t the only change the company announced at the Texas conference. For example, there Robinhood app now has a Crypto Home Tab on the app’s homepage to simplify navigation.

Also, users can now create personalized pricing alerts to ensure they have all the information they need to trade crypto their way. The Advanced Order Types feature also lets users place stop limits and stop orders on the app.

Robinhood Learn and Earn might already be a few months old, but Consensus 2023 marked the first opportunity they had to discuss it on stage. Learn and Earn is a program that teaches users about crypto while offering them the opportunity to earn by gifting them crypto prizes for completing quizzes and lessons.

During the announcement, the company boasted that Learn and Earn already has 1 million users, which isn’t surprising, considering that the Robinhood app has nearly 16 million monthly active users as of 2022.

The new Connect feature may not impact non-Robinhood users dramatically, but for die-hard users of the platform, it’s an absolute game-changer.


Author: Raji

Raji Ridwan is a tech blogger and freelance writer. He loves reading and drawing and plays football during his spare time.