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Avalanche (AVAX) Transfers Now Supported by Robinhood


u.today 29 September 2022 18:36, UTC
Reading time: ~2 m

Popular brokerage app Robinhood has enabled transfers for the Avalance (AVAX) cryptocurrency, according to a recent tweet.

As reported by U.Today, Robinhood made the AVAX token available for trading on its platform alongside Stellar (XLM).

The company rolled out Bitcoin transfers for its customers back in July. The feature had been in the works since late September.

Prior to that, Robinhood users weren’t capable of moving their tokens in and out of the app.

The company allows its customers to receive such coins as Bitcoin, Bitcoin Cash, Chainlink, Litecoin, Shiba Inu, and some other altcoins.

Robinhood also supports multi-chain transfers for the Polygon (MATIC) cryptocurrency. The cryptocurrency was initially available on Ethereum, but the app later enabled transfers on the Polygon network.

The customers of the popular brokerage app have to verify their identity in order to gain the ability to transfer tokens.

The amount of crypto that is moved per day is limited to $5,000.

Earlier this week, Robinhood introduced a beta version of its Web3 cryptocurrency wallet. Its Polygon-based wallet became available for 10,000 users. It allows users to connect to decentralized applications in order to earn yield. Robinhood also says that the application would allow trading tokens with zero network fees. The final version of the wallet will also support non-fungible tokens (NFTs).

Robinhood launched its non-custodial wallets in May, allowing customers to manage their own crypto.

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