Robinhood Eligible Waitlist Members Now Have Crypto Wallets
- Crypto Wallets were rolled out to all eligible WenWallets waitlist members.
- The news was announced at the Bitcoin Conference 2022.

On Thursday, Aparna Chennapragada, the Chief Product Officer at Robinhood, announced that eligible users on the waitlist would have the company’s long-awaited crypto wallet.
According to a blog post on the platform’s website, the announcement was made at the Bitcoin Conference 2022 in Miami, Florida where Robinhood pointed out that the waitlist accounted for over two million people.
With the crypto wallets powered by Robinhood, people could scan QR codes to send crypto to wallet addresses, enhanced by two-factor authentication security.
Moreover, Robinhood clarified that network and gas fees would be applied on top of all requested transfers for convenience, except for ‘Send All’ cases, in which case they are deducted.
Lightning Network Arrives at Robinhood
Also, the platform announced that Lightning is coming to Bitcoin transfers at Robinhood Crypto. “We will be adding the ability to transact on the Bitcoin Lightning Network Lightning Network The Lightning Network is a second-layer payment protocol that operates on top of a blockchain-based cryptocurrency. It enables fast transactions among participating nodes and has been touted as a solution to the Bitcoin scalability problem.This framework features a peer-to-peer (P2P) system for making micropayments of cryptocurrency via a network of bidirectional payment channels without delegating custody of funds.Transactions on the Lightning Network are only added to the blockchain when the two parties that are involved in a payment channel open or close the channel. Therefore, multiple transactions can be sent within a single channel without requiring the consensus of the entire blockchain, making the transaction process considerably faster. Normalized use of the Lightning Network involves the opening of a payment channel by committing a funding transaction to the relevant base blockchain or first layer. This in turn is followed by making any number of Lightning transactions that update the distribution of the channel's funds without broadcasting those to the blockchain.Additionally, these may or may not be followed by closing the payment channel by broadcasting the final version of the settlement transaction to distribute the channel's funds.How Does the Lightning Network Affect Everyday Users?For example, one Lightning Network user, Jim, can open a payment channel with a local corner store and deposit $100 worth of Bitcoin in it. Every time he visits the store, he can use his balance to instantly buy whatever he pleases. At the same time, Jane, another Lightning Network user, has opened up a channel with the cafe next to the corner shop. She also buys things from the corner shop. Because Jim has opened a channel with the corner store, Jane can also use the Lightning Network to pay for things there. Similarly, Jim can use the Lightning Network at the cafe. The Lightning Network is a second-layer payment protocol that operates on top of a blockchain-based cryptocurrency. It enables fast transactions among participating nodes and has been touted as a solution to the Bitcoin scalability problem.This framework features a peer-to-peer (P2P) system for making micropayments of cryptocurrency via a network of bidirectional payment channels without delegating custody of funds.Transactions on the Lightning Network are only added to the blockchain when the two parties that are involved in a payment channel open or close the channel. Therefore, multiple transactions can be sent within a single channel without requiring the consensus of the entire blockchain, making the transaction process considerably faster. Normalized use of the Lightning Network involves the opening of a payment channel by committing a funding transaction to the relevant base blockchain or first layer. This in turn is followed by making any number of Lightning transactions that update the distribution of the channel's funds without broadcasting those to the blockchain.Additionally, these may or may not be followed by closing the payment channel by broadcasting the final version of the settlement transaction to distribute the channel's funds.How Does the Lightning Network Affect Everyday Users?For example, one Lightning Network user, Jim, can open a payment channel with a local corner store and deposit $100 worth of Bitcoin in it. Every time he visits the store, he can use his balance to instantly buy whatever he pleases. At the same time, Jane, another Lightning Network user, has opened up a channel with the cafe next to the corner shop. She also buys things from the corner shop. Because Jim has opened a channel with the corner store, Jane can also use the Lightning Network to pay for things there. Similarly, Jim can use the Lightning Network at the cafe. Read this Term, an open-source ‘layer-2’ for Bitcoin transactions in the near future. Because these transactions occur ‘off-chain’, Lightning network transactions occur in a matter of seconds vs. minutes and for pennies vs. dollars, saving customers time and money. Network fees will vary based on demand in the Bitcoin network. What’s more, Lightning Network Bitcoin transfers reduce the carbon footprint of the transaction as bitcoin miners are not needed to validate,” the company highlighted.
Recently, Chennapragada made some statements about the interest of the trading platform in the non-fungible tokens (NFTs) industry, saying that they are ‘fascinated’.
On Thursday, Aparna Chennapragada, the Chief Product Officer at Robinhood, announced that eligible users on the waitlist would have the company’s long-awaited crypto wallet.
According to a blog post on the platform’s website, the announcement was made at the Bitcoin Conference 2022 in Miami, Florida where Robinhood pointed out that the waitlist accounted for over two million people.
With the crypto wallets powered by Robinhood, people could scan QR codes to send crypto to wallet addresses, enhanced by two-factor authentication security.
Moreover, Robinhood clarified that network and gas fees would be applied on top of all requested transfers for convenience, except for ‘Send All’ cases, in which case they are deducted.
Lightning Network Arrives at Robinhood
Also, the platform announced that Lightning is coming to Bitcoin transfers at Robinhood Crypto. “We will be adding the ability to transact on the Bitcoin Lightning Network Lightning Network The Lightning Network is a second-layer payment protocol that operates on top of a blockchain-based cryptocurrency. It enables fast transactions among participating nodes and has been touted as a solution to the Bitcoin scalability problem.This framework features a peer-to-peer (P2P) system for making micropayments of cryptocurrency via a network of bidirectional payment channels without delegating custody of funds.Transactions on the Lightning Network are only added to the blockchain when the two parties that are involved in a payment channel open or close the channel. Therefore, multiple transactions can be sent within a single channel without requiring the consensus of the entire blockchain, making the transaction process considerably faster. Normalized use of the Lightning Network involves the opening of a payment channel by committing a funding transaction to the relevant base blockchain or first layer. This in turn is followed by making any number of Lightning transactions that update the distribution of the channel's funds without broadcasting those to the blockchain.Additionally, these may or may not be followed by closing the payment channel by broadcasting the final version of the settlement transaction to distribute the channel's funds.How Does the Lightning Network Affect Everyday Users?For example, one Lightning Network user, Jim, can open a payment channel with a local corner store and deposit $100 worth of Bitcoin in it. Every time he visits the store, he can use his balance to instantly buy whatever he pleases. At the same time, Jane, another Lightning Network user, has opened up a channel with the cafe next to the corner shop. She also buys things from the corner shop. Because Jim has opened a channel with the corner store, Jane can also use the Lightning Network to pay for things there. Similarly, Jim can use the Lightning Network at the cafe. The Lightning Network is a second-layer payment protocol that operates on top of a blockchain-based cryptocurrency. It enables fast transactions among participating nodes and has been touted as a solution to the Bitcoin scalability problem.This framework features a peer-to-peer (P2P) system for making micropayments of cryptocurrency via a network of bidirectional payment channels without delegating custody of funds.Transactions on the Lightning Network are only added to the blockchain when the two parties that are involved in a payment channel open or close the channel. Therefore, multiple transactions can be sent within a single channel without requiring the consensus of the entire blockchain, making the transaction process considerably faster. Normalized use of the Lightning Network involves the opening of a payment channel by committing a funding transaction to the relevant base blockchain or first layer. This in turn is followed by making any number of Lightning transactions that update the distribution of the channel's funds without broadcasting those to the blockchain.Additionally, these may or may not be followed by closing the payment channel by broadcasting the final version of the settlement transaction to distribute the channel's funds.How Does the Lightning Network Affect Everyday Users?For example, one Lightning Network user, Jim, can open a payment channel with a local corner store and deposit $100 worth of Bitcoin in it. Every time he visits the store, he can use his balance to instantly buy whatever he pleases. At the same time, Jane, another Lightning Network user, has opened up a channel with the cafe next to the corner shop. She also buys things from the corner shop. Because Jim has opened a channel with the corner store, Jane can also use the Lightning Network to pay for things there. Similarly, Jim can use the Lightning Network at the cafe. Read this Term, an open-source ‘layer-2’ for Bitcoin transactions in the near future. Because these transactions occur ‘off-chain’, Lightning network transactions occur in a matter of seconds vs. minutes and for pennies vs. dollars, saving customers time and money. Network fees will vary based on demand in the Bitcoin network. What’s more, Lightning Network Bitcoin transfers reduce the carbon footprint of the transaction as bitcoin miners are not needed to validate,” the company highlighted.
Recently, Chennapragada made some statements about the interest of the trading platform in the non-fungible tokens (NFTs) industry, saying that they are ‘fascinated’.