Trading platform Robinhood is launching a cryptocurrency gifts program, allowing users to gift several cryptocurrencies, including bitcoin, dogecoin, ether, bitcoin cash, and litecoin. As with crypto trading, gifts are commission free and users can gift as little as $1 in cryptocurrency.
Robinhood Crypto Gift Program
Robinhood announced on Thursday the upcoming launch of Robinhood Crypto’s “Cryptocurrency Giveaway Program”.
Users can gift as little as $1 in cryptocurrency, Robinhood’s website details, noting that it can take 3-5 days for the fund to settle. “As with crypto trading, gifts are commission free,” Robinhood clarified, adding:
Once you’ve personalized your unique gift, you can send it directly to your loved one via a special link that will go straight to their phone.
The crypto gifts program is expected to launch on Dec. 22. However, crypto gifts are not available in Nevada or Hawaii, Robinhood’s 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,” details the terms and conditions of Robinhood’s crypto giveaways. The company added:
Just make sure your recipient has a Robinhood Crypto account to accept the gift within 14 days. For gifts not accepted, no sweat; you won’t be charged, and you’ll still get bragging rights that you gave out crypto for the holidays.
Robinhood Crypto currently supports buy, sell, and real-time market data for bitcoin (BTC), bitcoin cash (BCH), bitcoin sv (BSV), dogecoin (DOGE), ethereum (ETH), ethereum classic (ETC) and litecoin (LTC).
Supporters of the meme cryptocurrency shiba inu have petitioned on Change.org for Robinhood to list SHIB. However, Robinhood previously said that it is in no hurry to list another cryptocurrency.
Robinhood’s transaction-based revenue in the third quarter totaled $ 267 million, including $ 51 million from cryptocurrency trading. In addition, 40% of its income based on cryptocurrency transactions for the three months ended September 30 was attributable to dogecoin transactions.
Earlier this week, Chainalysis announced that it has partnered with Robinhood to boost the trading platform’s compliance ahead of its crypto wallet launch.
