The Robinhood trading platform is launching a cryptocurrency gift program that allows users to give away multiple cryptocurrencies, including Bitcoin, Dogecoin, Ether, Bitcoin Cash, and Litecoin. As with crypto trading, gifts are commission-free and users can give away as little as $ 1 in cryptocurrency.
Robinhood’s Crypto Gift Program
Robinhood announced the upcoming launch of the Robinhood Crypto Cryptocurrency Gifts Program on Thursday.
Users can give away as little as $ 1 in cryptocurrency as advertised on Robinhood’s website. It can take 3-5 days for the fund to pay off. “As with crypto trading, gifts are commission-free,” Robinhood clarified, adding:
Once you have personalized your unique gift, you can send it directly to your special person using a special link that goes straight to their phone.
The crypto gifts program is expected to start on December 22nd. However, crypto gifts are not available in Nevada or Hawaii, as the Robinhood website notes.
“Once the sender has selected and confirmed the requested amount and the cryptocurrency, the sender is solely responsible for sharing a link to the gift and the recipient can use this shared link to accept the gift,” describe Robinhood’s terms and conditions for crypto gifts. The company added:
Just make sure your recipient has a Robinhood Crypto account to receive the gift within 14 days. For gifts not accepted, no sweat; You won’t be charged, and you still get the right to brag about spending crypto for the holidays.
Robinhood Crypto currently supports buying, selling and real-time market data for Bitcoin (BTC), Bitcoin cash (BCH), Bitcoin-SV (BSV), Dogecoin (DOGE), Ethereum (ETH), Ethereum classics (ETC) and Litecoin (LTC).
Robinhood’s third quarter transaction-based revenue amounted to $ 267 million, of which $ 51 million came from cryptocurrency trading. Additionally, 40% of the cryptocurrency transaction-based revenue for the three months ended September 30 was attributable to transactions in Dogecoin.
Earlier this week, Chainalysis announced that it had partnered with Robinhood to advance compliance on the trading platform Introduction of crypto wallets.
What do you think of Robinhood starting a crypto gift program? Let us know in the comment section below.
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Source: Crypto News Austria