Picture of Robinhood

Buying and selling app Robinhood has introduced a brand new function that will permit customers to present cryptocurrencies to their family and friends. This comes as the vacation season is in full bloom and individuals are scrambling to get the proper 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 Straightforward

Robinhood introduced through a weblog publish 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 buyers to as an alternative skip the lengthy strains 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.

Associated Studying | Crypto Market Massacre Creates Largest Stretch Of Concern Since April Peak

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 present crypto to their family and friends.

Customers can select from an inventory of seven cryptocurrencies that they need to present to household and associates after which ship the crypto present to them contained in the app. As well as, customers are in a position to ship a novel design and private message with their crypto present 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 an inventory of seven cryptocurrencies that they need to present. These embrace 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 present.

Associated Studying | FED’s Powell Doesn’t Suppose Crypto Dangers Monetary Stability

As soon as a crypto present is shipped, the recipient could have a complete of 14 days to redeem it. If they’re already a Robinhood consumer, they can redeem the present within the app. Nonetheless, if they don’t seem to be a consumer, they might want to signal as much as declare the present. If 14 days elapse and the recipient doesn’t redeem the present, then the crypto is shipped again to the sender without charge.

Robinhood customers can ship as little as $1 to their recipient of alternative and pay 0% in fee once they accomplish that.

Featured picture from 9to5Mac, chart from TradingView.com