It works “exclusively” with the Polygon blockchain for now.
Sep 27, 2022, 7:00 PM UTCCurrently, the wallet only supports Polygon — no relation to Vox Media’s gaming-focused publication.Robinhood has launched the beta for its “Web3 wallet” for 10,000 iOS users who signed up for the waitlist. The company teased this productafter making an earlier crypto wallet more broadly available.
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. In practical terms, that 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 clearly still very early days for the wallet; for one, it won’t support viewing NFTs or connecting to NFT marketplaces until the public release.
that there were almost 384,000 OpenSea transactions on the blockchain in the past week; meanwhile, there were only 82 transactions on the Polygon chain. . It is worth noting that going with a non-Ethereum chain isn’t automatically a bad choice — Solana, though it hasn’t been consistently beating Ethereum.
Robinhood does say it’ll add support for other blockchains “eventually.” Currently, beta users will be able to fund their wallet with the USDC stablecoin, trade crypto, “earn crypto rewards,” and connect to decentralized apps, which Robinhood says will allow you to earn yield. In theory, you could use it with decentralized apps that do other things as well, but...
The concept of earning yield, or interest, has been getting a lot of legal scrutiny lately, with several states
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