Robinhood has launched the beta version of “Web3 wallet”.
Waitlist for 10,000 iOS users who signed up Web3 wallet.
After making an earlier crypto wallet more broadly available, the company teased this wallet earlier this year.
Unlike its existing cryptocurrency wallet, the Web3 wallet isn’t just for storing cryptocurrencies that can be traded on the financial platform.
It can also be used to “seamlessly access the decentralized web”
The wallet will also let people trade cryptocurrencies without any fees.
The Web3 wallet also differs from the company’s other crypto wallet in that it’s self-custody, meaning you’re responsible for keeping the keys for it secure.
It gives you a bit more control over your crypto but also means that if you forget your password, there’s nothing Robinhood can do to help.
It’s very early days for the wallet; for one, it won’t support viewing NFTs or connecting to NFT marketplaces until the public release.
It’ll work “exclusively” with the Polygon blockchain rather than the more popular Ethereum one.
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