Billy Markus, co-founder of the popular meme-inspired cryptocurrency Dogecoin ($DOGE), has said that commission-free trading platform Robinhood (NASDAQ: HOOD) sending DOGE to external wallets is “huge” and pointed to the crypto’s low transaction fee.
Robinhood’s Chief operating Officer Christine Brown has revealed on Twitter that Robinhood is still working on transferring funds from Robinhood’s wallets into external wallets, and shared a screenshot of how the process works with a DOGE transaction.
In it, Brown sends 420.71 DOGE worth over $90 to an external address, which receives the sent funds mines a 0.02 DOGE fee. In the transaction, Robinhood notes that the funds will arrive depending on the number of confirmations required b the wallet receiving the funds.
Brown asks what confirmations are and received a detailed reply, showing that the commission-free trading platform has been working on simplifying the process and lingo of the space.
Robinhood’s work will allow cryptocurrency investors on the platform to move funds to external wallets, making it possible for them to then participate in the wider cryptocurrency space and interact with decentralized finance (Defi) applications if they wish to.
The company has said it has 1.6 million people on the waitlist to try out its cryptocurrency wallets. Robinhood currently lets its users trade BTC, BCH, BSV, DOGE, ETH, ETC, and LTC and has plans to support additional cryptoassets.
As CryptoGlobe reported, a petition from supporters of the popular meme-inspired cryptocurrency Shiba Inu ($SHIB) has already gathered over 500,000 signatures. Titled “Kindly request of Robinhood to list Shiba Inu coin,” the petition mentions listing DOGE was a “huge success” for the taking platform.
Notably, searches for DOGE have been dwarfing searches for other cryptocurrencies like BTC or its rival meme-inspired cryptocurrency Shiba Inu, at least in the United States. Analysis has revealed DOGE is the most searched for crypto in 23 states.
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