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Software Businesses Technology

Robinhood Debuts New Non-Custodial Crypto Wallet (techcrunch.com) 22

Robinhood is finally rolling out a beta version of its non-custodial crypto wallet to 10,000 customers on its waitlist after announcing the product in May, its CTO and general manager of crypto, Johann Kerbrat, told TechCrunch. The product is called Robinhood Wallet and will be the company's first internationally-available app, Kerbrat said. From a report: The company revealed new details about the offering in conjunction with the beta launch, most notably that it will launch exclusively with Polygon, a popular layer-two blockchain that plugs into Ethereum and makes the network faster and cheaper to use. This means beta users will be able to purchase the Polygon MATIC token on Robinhood's main exchange app and transfer it to their Robinhood Wallet. They will also be able to access dApps directly on the Polygon network, including DeFi apps such as Uniswap, Balancer and Kyberswap, and metaverse games such as Decentraland, a spokesperson for Polygon said in an email to TechCrunch. Over time, the Robinhood team plans to build out multi-chain support for the wallet beyond the Polygon ecosystem, Robinhood crypto product manager Seong Seog Lee told TechCrunch.
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Robinhood Debuts New Non-Custodial Crypto Wallet

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  • by Petersko ( 564140 ) on Tuesday September 27, 2022 @05:31PM (#62918995)

    I can keep a condom in it.

  • words words words words.. gobbledigook.. blither blather... no idea what the heck any of this means. Not that I ever have any interest in a robin hood account.

    • One of the major tricks of financial salespeople is to make it complex enough that customers don't understand it. If you don't understand it, you can't calculate the value. If you can't calculate the value, then they can rip you off with their sales skills (as opposed to having something you'd want to buy).

      This is also something that was in play during the subprime mortgage crisis.

      • This is a nice short example of how not to summarise. To wit:

        First you introduce something in the headline. Then you introduce that same thing, again.

        At that point at the latest you're supposed to explain what the immediate upshot is. "What's this non-custodial wallet thing?" Needs an immediate answer. Instead, gobbledygook.

        By then the poor reader has been had by the repetition and the disappointment of not receiving what a summary is supposed to offer, and can safely skip the rest. No further content av

    • I think when I read the introduction and what its limits are, pretty much, it was something I personally would not use.

      Wallets are either one or the other. 100% custodial because the exchange has some nice benefits of ease of trading and getting in or out... for example, Coinbase. Then, you have non custodial, which is completely independent, and focused on security, ease of backups, and reliability. For wallets, I prefer known good hardware wallets like Trezor or Ledger, but something like AirGap [airgap.it] which

  • If anyone is wondering, Polygon is a web3 framework for Ethereum. You can use it to store your data in the public blockchain and stuff.

    Is that something you'd want to do? Only $MATIC knows.

    • by gweihir ( 88907 )

      I am just waiting for somebody to store some illegal bytes on there, to be present forever.
      Not that the idea is new. Could make somebody some nice pile of cash though.

    • So, yet another digital token. At some point introducing new token formats have to slow down, don't they? Its like that joke about having so many standards.
    • There might be some uses for stashing public data. Having a service like a timestamp service [itconsult.co.uk] with it putting hashes out on the blockchain might be useful, just for audit reasons. However, there are other ways to do this as well. Another use might be making a manifest file of a directory being archived, hashing the manifest file, and stuffing the hash onto the public blockchain, just as another way to show files are secured, even if one's GPG key is compromised.

      However, blockchains have limited use. The

  • Nobody gives a fuck about this shit. If they do, they're gonna be butthurt when poof the money's gone!
  • The mind boggles...

    • Why is slashdot always pushing this crap?
      • by gweihir ( 88907 )

        Yep, I don't get it. Sure, it is still "hype" but it should be clear by now that this has been overrun by scammers and criminals and the original vision has completely and utterly failed.

  • I mean, after freezing the ability to sell your own stock on their platform, who would fall for a company like that again?

  • Fuck Robinhood in their shady, malfeasant asses.

  • Non-custodial is a good step but the wallet needs to be free software if it's going to be more than a shiny toy that quickly loses its luster.
  • The hacker group Sheriffofnottingham cracked Robinhood's wallet.

...though his invention worked superbly -- his theory was a crock of sewage from beginning to end. -- Vernor Vinge, "The Peace War"

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