A little over a month after the launch of its custodial wallet.
Prior to the launch of its first wallet, Robinhood allowed its users to buy and sell cryptocurrency on its platform but not to spend it, effectively only allowing it to be used as a speculative asset.
Custodial wallets, like the one that Robinhood released earlier this year, are commonly seen as offering a more user-friendly introduction to the world of crypto, where there’s less risk of losing assets because of mislaid credentials. But, among cryptocurrency enthusiasts, the phrase “not your keys, not your coins” has become a popular criticism of custodial wallets, arguing you only have true control of your digital assets if you alone hold the private key.
Robinhood says it’ll be launching its non-custodial wallet in beta “later this summer” and invites anyone interested in trying it out to sign up for its wait list. A full launch is planned for sometime before the end of the year.Subscribe to get the best Verge-approved tech deals of the week.Please confirm your subscription to Verge Deals via the verification email we just sent you.
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