When I saw that Robinhood had announced the launch of its special Beta version wallet app I was pretty intrigued to see what it would be like. As someone who has used Robinhood since 2016 I have seen Robinhood firsthand lead the zero trading commission charge and through the growing pains continued to stick with them. Signups for the wallet app first went live a few months ago and when that happened I made sure to sign up and put my name on the list to see what the product looks like. Well even though only 10,000 people were selected it turns out I was one of those 10,000 and have spent the last couple of weeks navigating it and watching as they have added features along the way.
There are some things that I will say Robinhood did a fantastic job with like launching this app within Apple's Test Flight program. This has you download the Test Flight app Apple created for beta testing apps and will periodically remind you to let the developer know your thoughts about things and to report the bugs! I am well aware of how most people seem to think and feel about Robinhood but the way that I look at it they have typically been on the cutting edge for this and pushing boundaries so when things go wrong it blows up on them and when they go right no one says a word. All of that being said let's go back and focus on the app.
As Robinhood had previously mentioned this is a standalone app and runs on the Polygon network. This would make a ton of sense as Robinhood is all about low cost and reliability and that is exactly what the Polygon network provides. Initially, when I first started on the app, the day of its launch, it did not have much to offer but Robinhood did give everyone something to start with!
Almost daily though since the release of this Beta app Robinhood has continued to add additional cryptos you can trade for! Not only that but if you are like me who owned MATIC on your Robinhood account they help you facilitate a transfer from the Brokerage app to the new Crypto app. While I have not interacted with any Dapps through the app I have been trading within the app and so far it has performed amazingly. The trades that I set I have gotten at a minimum that if not even more in return for what I had set!
I could expect it to take a little bit for this app to fully roll us and become a hub like they want it to be. Credit is due though to those who have worked on it and have created such an easy-to-use and user-friendly app. This could really help further spur adoption by investors who seek to get into new or alternative investment streams! As I have said Robinhood has been updating the app several times a week if not daily adding new coins and further allowing users to really get emerged in the crypto space. This Dapp has already easily out paced the rollout for the main Robinhood app so I am optimistic about what I currently see now!
