Buying and selling app Robinhood has introduced that its customers will be capable of present family and friends crypto over the vacation season.
In a Thursday announcement, Robinhood mentioned its customers — aside from these in Hawaii and Nevada — might ship as little as $1 in Bitcoin (BTC) or six different cryptocurrencies with a customized digital card beginning on Dec. 22. To make sure the crypto will not be misplaced by a recipient unwilling or unable to make use of it, the buying and selling app has arrange a 14-day window to simply accept the present, at which level the person is not going to be charged.
“Crypto gifting is an effective way for our prospects to assist take away the emotional and financial barrier of their family and friends taking their first step into crypto,” Robinhood Crypto COO and Lead Christine Brown instructed Cointelegraph. “It is usually a straightforward and instant present for these which can be already crypto followers.”
Robinhood’s providing is much like these at the moment provided by Block, previously Sq., along with PayPal and Coinbase. It’s unclear if the buying and selling app intends to make the crypto present giving function accessible after the vacations.
Cointelegraph reported on Dec. 7 {that a} examine by lending agency BlockFi confirmed many Individuals could be keen to simply accept cryptocurrencies together with BTC, Ether (ETH), and Dogecoin (DOGE) as items this vacation season. Nevertheless, the identical survey revealed that almost all of respondents didn’t have the abilities to switch crypto.
Gifting crypto to family members this vacation? Educate them first
With greater than 22 million customers, Robinhood is at the moment testing its digital pockets function anticipated to launch for all prospects in early 2022. Since going public on the Nasdaq in July, the share value of Robinhood (HOOD) has steadily declined from an all-time excessive of $70.39 on Aug. 4 to $18.16 on the time of publication, a drop of roughly 74%.
