Robinhood Trials Dogecoin Wallet

Commission-free stock trading platform and crypto exchange Robinhood has tested its in-app cryptocurrency wallet feature for the first time.

The Chief Operating Officer (COO) of the firm’s crypto division Christine Brown released a snapshot of a dogecoin transaction initiated last week.

According to the screenshot, a total of 420.71 doge tokens (worth $91.58 at press time) was sent, 0.02 DOGE was deducted as network fee, meaning that the receiving wallet will be credited with 420.69 dogecoins ($91.65).

RELATED: Robinhood Shares plummets following Crypto revenue decline

Following the tweet by Christine Brown, Dogecoin co-founder Billy Markus said the trial is “huge” for the memecoin and hailed the impressively low network fee charge.

yo, this is huge

0.02 DOGE fee also ?? https://t.co/n2k6lF8XxI

— Shibetoshi Nakamoto (@BillyM2k) November 22, 2021

Since the Dogecoin Core 1.14.5 update was released, transactions on the network have become much more affordable.

Robinhood revealed earlier this month that 1.6 million users had joined the waiting list of its crypto wallet.

NEXT: Ten of the Biggest Crypto Stories Last Week: India’s Crypto indecision, Dorsey’s exchange Whitepaper, Russia’s CBDC levy, El Salvador’s Bitcoin City, and more