Robinhood Wallet Is A Self-hosted Cryptocurrency Wallet Provided By Robinhood, Designed To Provide Users With A Secure And Convenient Digital Asset Management And Web3 Interactive Experience.
Registration Information
- Registration Time: Robinhood Markets, Inc. Was Established In 2013, And Robinhood Wallet Was Launched As A Standalone App In 2022.
- Registration Location: Robinhood Markets, Inc. Is Headquartered In Menlo Park, California At 85 Willow Road, Menlo Park, CA 94025. The Wallet Service Is Provided By Robinhood Crypto, LLC (NMLS ID: 1702840) And Is Licensed By The New York State Department Of Financial Services.
Services
Robinhood Wallet Provides The Following Core Services To Meet The Diverse Needs Of Users In The Cryptocurrency Ecosystem:
Digital Asset Management
- Supports Storing, Sending, And Receiving Multiple Cryptocurrencies, Including Ethereum (ETH), Bitcoin (BTC), Solana (SOL), Dogecoin (DOGE), Arbitrum (ARB), Polygon (POL), Optimism (OP), And Base (BASE).
- Display Real-time Balances, Transaction History, And Asset Details For Easy Management Of Portfolios.
Trading Services
- Send And Receive: Users Can Send Cryptocurrencies To Any Address On A Supported Network, Or Receive Them From Other Wallets. Make Sure To Use The Same Network To Avoid Asset Loss. Steps Include Selecting A Cryptocurrency, Scanning The QR Code Or Entering An Address, Entering An Amount, And Confirming.
- Exchange: Exchange Between Ethereum, Solana, Polygon, Arbitrum, Base, And Optimism Networks Is Supported Through DEX Aggregators Such As 0x API And LI.FI. Guaranteed Exchange Rate (30 Second Lock) And Estimated Exchange Rate Are Provided, Slippage Tolerance Applies. Tokens Are Approved For The First Exchange, And Network Fees, Partner Fees, And Bridging Fees Are Involved.
DApp Interaction
- Connect DApps Via The Built-in Web3 Browser Or WalletConnect, Supporting Ethereum, Polygon, Arbitrum, Optimism, And Base Networks.
- IOS Users Can Select The Web3 Icon, Search Or Enter The DApp URL, And Select Robinhood Wallet Or WalletConnect When Connecting. Both Mobile End And Web End Support QR Code Scanning Or Deep Link Connection.
- Users Can Manage Previously Connected DApps, Periodically Check Permissions, And Revoke Unnecessary Token Approvals.
NFT Management
- Currently Only Receiving And Storing NFTs Is Supported. Networks Include Ethereum, Polygon, Arbitrum, Optimism, And Base, Which Are Limited To IOS.
- Users Can Control NFTs Visibility, Hide Or Show Individual NFTs Or Collections. Steps Include Going To The NFTs Menu, Selecting "Manage NFT Visibility", And Operating Through A Toggle Switch.
- The Ability To Send NFTs Is Under Development And Is Expected To Be Supported In The Future.
Other Services
- Provide Real-time Price Tracking, Display Market Trends, And Help Users Optimize Trading Decisions.
- Support Buying Cryptocurrencies Through Robinhood Connect Or Sardine, Or Transferring Money From Robinhood Crypto Accounts Or Other Wallets.
Features
Robinhood Wallet Is Designed To Focus On User-friendliness And Security. The Following Are Its Main Features:
Asset Management
- Support Multi-chain Assets, Covering Mainstream Blockchain Networks, Suitable For Diversified Investment Needs.
- Provide Biometric (Face ID/Touch ID) Or 6-digit Custom PIN Login For Enhanced Access Security.
- Backup Options Include ICloud, Google Drive Or Manual Backup To Ensure That The Device Can Be Restored After Loss.
Transaction Optimization
- The Exchange Function Supports Cross-chain Transactions, Involving Network Fees, Partner Fees And Bridging Fees. Users Can Choose The Transaction Speed Optimization Cost.
- Send And Receive Should Pay Attention To Network Compatibility To Avoid Losses Caused By Sending To Unsupported Addresses.
DApp Integration
- Web3 Browser And WalletConnect Provide Flexible Connection Methods, Support Mainstream DApps, Suitable For Exploring DeFi And GameFi.
- Users Can Manage Connected DApps, Regularly Check Permissions, Protect Asset Security.
NFT Support
- The Current Stage Focuses On Receiving And Storing NFTs, And Plans To Support Sending In The Future To Enhance The User Experience.
- Provide NFT Visibility Management, Which Is Convenient To Hide Junk NFTs And Protect User Privacy.
Cross-platform Support
- IOS And Android Apps, Providing Full Wallet Functionality.
- Support In-browser Operation, Suitable For Mobile End Users To Manage Assets At Any Time.
Other Features
- Integrate Robinhood Connect To Simplify The Purchase And Transfer Process.
- Provide Educational Resources, Such As How To Identify And Report Scams, To Increase User Safety Awareness.
Security
Robinhood Wallet Pays Attention To The Security Of User Assets. The Following Are Its Security Measures:
- Self-hosted Design: The User Holds The Private Key, And Robinhood Has No Access Rights To Ensure Full Control Of The Assets.
- Biometric And PIN: Support Face ID/Touch ID Or 6-digit PIN Login To Enhance Application Access Security.
- Recovery Phrase Backup: Generate Secret Recovery Phrases (seed Phrases), Which Need To Be Stored Securely Offline. Robinhood Cannot Be Restored. Backup Options Include ICloud, Google Drive Or Manual, Emphasizing The Importance Of Backups To Prevent Devices From Becoming Inaccessible After They Are Lost.
- Cross-chain Exchange Risks: Alert Users To Third-party Bridging Vulnerabilities, Monitor Wallets Regularly, Check For Unauthorized Transactions, And Revoke Token Or Smart Contract Approvals If Necessary.
- Junk Cryptocurrency Management: Automatically Flag Unsolicited Cryptocurrencies And Move To The Junk Folder, Which Can Be Managed By Users Through "Settings → Manage Cryptocurrency Visibility → Junk Cryptocurrency".
- Anti-fraud Measures: Provide Guidance To Prevent Phishing Attacks And Social Engineering (such As Airdrops, Emails, Text Messages, Social Media, Fraudulent Websites), Emphasizing That Recovery Phrases Are Not Shared, Only Transactions With Trusted Entities. For Details, See, How To Identify And Report Scams.
- User Responsibility: Users Need To Keep Recovery Phrases Properly, Check DApp Authorizations Regularly, And Avoid Phishing Attacks.
- Risk Warning: Cryptocurrencies Do Not Enjoy FDIC Insurance Or SIPC Protection. It Is Necessary To Pay Attention To Asset Safety.
How It Works
Robinhood Wallet Is Based On The Blockchain Public-private Key Encryption System And Adopts A Self-escrow Architecture To Ensure That Users Control Assets. Its Working Principle Is As Follows:
Wallet Creation
- The User Selects "Create New Wallet", Sets Face ID/Touch ID Or PIN, And Generates A Secret Recovery Phrase (BIP-39 Standard).
- The Private Key Is Stored Locally Through The User's Device, And Robinhood Has No Access Rights.
- Backup Options Include ICloud, Google Drive Or Manual, Password Protection Is Required.
Asset Management
- Wallet Query Balance, Transaction And NFT Data Through Blockchain Nodes.
- Support Multi-chain, Receive Assets Through Public Key (address), Displayed As String Or QR Code.
- Users Can View Real-time Balance And Transaction History, Manage Asset Portfolios.
Transaction Execution
- The User Initiates The Transaction (such As Sending, Exchanging), And The Wallet Generates The Signature (through The Private Key).
- The Signature Is Broadcast To The Corresponding Blockchain, And The Node Verifies It And Then Uploads It To The Chain.
- The Exchange Transaction Is Executed Through The DEX Aggregator (such As 0x API, LI.FI), Which Involves Network Fees And Bridge Fees.
DApp Interaction
- Connect To The DApps Through The Web3 Browser Or WalletConnect. The User Authorizes The Operation And Needs To Manually Confirm The Transaction.
- Supports Ethereum, Polygon, Arbitrum, Optimism, And Base Networks To Regularly Check Permissions And Protect Assets.
NFT Management
- Currently Supports Receiving And Storing NFTs, And Plans To Support Sending In The Future.
- User-manageable Visibility, Hides Junk NFTs, And Protects Privacy.
Security Guarantees
- Local Storage Of Private Keys, Emphasizing Backup Recovery Phrases To Prevent Device Loss.
- Provide Anti-fraud Guidance, Pay Attention To Phishing Attacks And Cross-chain Exchange Risks.
- Regularly Check DApp Authorization And Revoke Unnecessary Permissions.
Cross-platform Support
- IOS And Android Apps, Providing Full Functionality.
- Support In-browser Operation, Suitable For Mobile End Users To Manage At Any Time.
Summary
Robinhood Wallet Is A Feature-rich Self-custodial Wallet That Supports Multiple Blockchain Networks And Provides Services Such As Asset Management, Trading, DApp Connectivity, And NFT Management. Launched In 2022 And Headquartered In Menlo Park, California, It Emphasizes User Control And Security And Is Suitable For Exploring The Web3 Ecosystem. Users Need To Pay Attention To Backup Recovery Phrases To Protect Asset Safety.
