Buying and selling app Robinhood has introduced a brand new function that might permit customers to reward cryptocurrencies to their family and friends. This comes as the vacation season is in full bloom and individuals are scrambling to get the right presents for his or her household and associates this Christmas. This new function will permit for the seamless switch of crypto from one consumer to a different contained in the Robinhood app.
Crypto Gifting Made Simple
Robinhood introduced through a weblog submit on Thursday that it was rolling out a brand new function on its platform. The gifting function would permit customers to share crypto with their family and friends by way of the app. The push behind the function was encouraging vacation consumers to as a substitute skip the lengthy traces and pressures of last-minute searching for presents that find yourself nugatory after the vacations in favor of one thing that appreciates in worth like cryptocurrencies.
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Robinhood has made its title as one of many main buying and selling apps in the USA, with 22 million customers within the nation. A big demographic is Millenials who usually tend to reward crypto to their family and friends.
Customers can select from a listing of seven cryptocurrencies that they wish to reward to household and associates after which ship the crypto reward to them contained in the app. As well as, customers are capable of ship a novel design and private message with their crypto reward to make it much more significant.
How To Reward With Robinhood
Contained in the Robinhood app, customers can click on the “Reward” button after which select from a listing of seven cryptocurrencies that they wish to reward. These embody Bitcoin (BTC), Ethereum (ETH), and investor favourite Dogecoin (Doge). Subsequent is to decide on the tactic of supply for the customers. This might both be by textual content or by electronic mail and the recipient will get a hyperlink to redeem the reward.
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As soon as a crypto reward is distributed, the recipient could have a complete of 14 days to redeem it. If they’re already a Robinhood consumer, they’re able to redeem the reward within the app. Nonetheless, if they aren’t a consumer, they might want to signal as much as declare the reward. If 14 days elapse and the recipient doesn’t redeem the reward, then the crypto is distributed again to the sender without charge.
Robinhood customers can ship as little as $1 to their recipient of alternative and pay 0% in fee after they achieve this.
Featured picture from 9to5Mac, chart from TradingView.com
