Trading platform Robinhood is launching a cryptocurrency gifting program, allowing users to gift multiple cryptocurrencies including bitcoin, dogecoin, ether, bitcoin cash, and litecoin. As with crypto trading, giveaways 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 the Robinhood Crypto “Cryptocurrency Giveaway Program”.
Users can offer as little as $1 in cryptocurrency, the Robinhood website details, noting that fund settlement can take 3-5 days. “As with crypto trading, giveaways 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 giveaway program is set to launch on December 22. However, crypto gifts are not available in Nevada or Hawaii, the Robinhood website notes.
“Once the sender has selected and confirmed the requested amount and 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,” detail 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 worries; you won’t be charged and you’ll still have bragging rights that you gave away 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).
Proponents of the same shiba inu cryptocurrency asked on Change.org that Robinhood listed SHIB. However, Robinhood has previously stated that it is in no rush to list another cryptocurrency.
Robinhood’s third-quarter transaction-based revenue totaled $267 million, including $51 million from cryptocurrency trading. Additionally, 40% of its cryptocurrency transaction-based revenue for the three months ended Sept. 30 was attributable to dogecoin transactions.
Earlier this week, Chainalysis announced that it had partnered with Robinhood to strengthen trading platform compliance ahead of the launch of its crypto wallet.
What do you think of Robinhood launching a crypto giveaway program? Let us know in the comments section below.
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