Robinhood to Test Crypto Wallets in October

​US-based online broker Robinhood Wednesday announced that the first customers will begin testing crypto wallets in October. 

As detailed in the official announcement, the broker will share these clients’ experience and feedback on its blog and twitter regularly so that the public can follow along and get an under-the-hood look into what it is building. ​After that, it plans to continue to roll out access to more and more customers through a waitlist.

The broker highlighted that it will make crypto wallets simple, secure and low-cost. Clients will be able to move crypto in and out of their app in a few taps: send crypto to other wallet addresses and receive supported cryptocurrencies into your Robinhood account. This means users can consolidate their coins into one account so it’s easier to track a portfolio, move supported coins into a Robinhood account they can trade those coins commission-free, and more.

In addition, Robinhood added that it is designing wallets to be intuitive, with security features such as identity verification, multi-factor authentication, and email and phone verification to keep coins safe from hacks and other threats.

Earlier this month, Robinhood launched a new feature—crypto recurring investments​, an option to set up automatic purchases in clients' account. Investors can regularly buy their favorite coins, commission-free and with as little as $1 on a daily, weekly, biweekly, or monthly schedule of their choice.