Robinhood unveils new crypto gifting feature ahead of the holidays
- Trading app
Robinhoodwill launch a new cryptocurrency gifting feature, beginning December 22.
- Users can send cryptocurrency as a gift to other users, in amounts as small as $1.
- The move is similar to Cash App's recent announcement, allowing users to send fractional shares of stocks and
bitcointo other users.
Zero-commission retail-trading app Robinhood confirmed it's launching a feature to allow users to gift cryptocurrencies to other users.
Earlier this week, Bloomberg reported on the feature after developer Steve Moser discovered the gifting code in a beta version of Robinhood's iPhone app.
"Crypto gifting is a great way for our customers to help remove the emotional and economic barrier of their friends and family taking their first step into crypto," Robinhood
Beginning December 22, all users — except those in Nevada and Hawaii — will be able to share digital gift cards with one other, as well as a written message of up to 180 characters. The gifted money can be retracted before the recipient accepts it.
Upon receiving a gift, users have 14 days to accept it in the app. New customers must download the app and sign up for an account to claim a gift. Gifts can be as small as $1, picked from seven available currencies, including bitcoin, ether, and dogecoin.
The move mimics Cash App's recent announcement of a new feature that allows users to send fractional shares of stocks and bitcoin to other users.
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