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Robinhood Wallet: A Big Deal For Dogecoin Said Elon Musk

The biggest promoter has made another clear move to boost the acceptance of Dogecoin by making people view the meme coin as a reliable method of exchange, not just a digital currency prone to speculation in the crypto market. The CEO of Tesla believes it is high time the meme token was listed on the popular crypto trading platform, Robinhood.

The statement by Musk was a result of a tweet by the coin co-founder, Billy Markus, who narrated that holders could now be able to use the meme coin for transactions and other uses as users now embrace the decentralized cryptocurrency.

Before Markus made that statement, he discussed his experience of using his wallet to send Dogecoin for the first time, disclosing how it feels like to have done so in his tweet below.

When reporting this story, the beta phase of the wallet was tested by Robinhood in January, letting some coin holders on the waiting list perform transactions to online wallets. The testing is to ascertain the wallet’s readiness for future crypto transactions and the safety of every trade on the platform.

Sometime in 2021, a company located in Menlo-Park released a statement showing a whopping $48 million worth of revenue from crypto-related transactions, marking a drop of at least 6% in contrast to what is recorded in quarter three of the same year. The news of the huge revenue comes as no surprise considering the number of digital tokens traded outside of the official records, be it peer-to-peer or otherwise.

On the other hand, Dogecoin shares 26% of the total $565 million of the wallet’s profit in the year’s second quarter. The earned income indicates a massive improvement due to the confidence and trust coin holders have in the smooth and efficient operation of the platform.

Ultimately, even digital coin makers need a diversified platform capable of accommodating and reliably securing their transaction portfolios to boost their competitiveness among their peers.

However, users who are into meme coins have continuously pleaded with the popular crypto trading wallet for support to accommodate the transaction for Shiba Inu. But the platform developers continue to look the other way or are paying no attention to the pleas to list the Inu coin on their platform. Listing the Inu coin on the platform would go a long way in attracting other meme coin holders to the trading exchange platform.

Currently, users on the Robinhood platform are provided with the option to trade in seven cryptocurrencies. Moreover, most users are unable to transfer their tokens to third-party platforms.

At the time of the recent earnings by the trading platform, the developers revealed that expansion of the trading platform to go international was in the pipeline in 2022, maintaining that there is an unquantifiable potential for the crypto industry.

The expansion comes as more and more coin holders in various countries demand an alternative online crypto trading platform due to the perceived limitations experienced in other venues.

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