Robinhood Launches Crypto Wallet App on Google Play for Android Users

• The Robinhood Wallet app is now accessible on Google Play.
• This past year, the company saw a 33% drop in yearly transaction income from crypto.

Robinhood now allows users of Android devices to access its cryptocurrency wallet. The Robinhood Wallet app, as stated in the release on March 20, is now accessible on Google Play. Since then, the app’s download count has topped 10,000.

Johann Kerbrat, general manager of Robinhood Crypto, made the announcement on the same day that the brokerage’s iOS crypto wallet had been “downloaded hundreds of thousands of times in 140+ countries” since its inception in March 2023.

Over a million people were on the waiting list for the iOS crypto wallet when it was released. The Robinhood Crypto app for Android and iOS, like any self-custody wallet, stores private keys inside, so neither the creators nor third-party backup services like Google Drive or iCloud can access them.

Striving Hard

At this time, Robinhood users may directly trade major cryptocurrencies. With the debut of Robinhood Connect in 2023, customers were able to buy cryptocurrency straight into their Robinhood trading accounts.

This past year, the company saw a 33% drop in yearly transaction income from cryptocurrency trading operations, coming in at $135 million. The company also now holds $14 billion worth of customer cryptocurrency, up from $8.4 billion in 2022.

The news broke on December 7, 2023, that Robinhood had begun offering cryptocurrency trading services to European customers. With over 25 different cryptocurrencies to choose from, Robinhood is the go-to platform for crypto trading for qualified users in the European Union. Additionally, there are no trading costs with the new Robinhood Crypto app in the EU, and users will get a monthly Bitcoin payout based on a proportion of their trading activity.

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