Robinhood completes first external transfer with Dogecoin, No Shiba Inu yet

TL;DR Breakdown:

  • Robinhood successfully completed a test transfer from their soon-to-launch wallet using Dogecoin.
  • The wallet will enable users to deposit and withdrawal cryptocurrencies from the platform. 

The Robinhood crypto wallet is nearing public release. On Monday, the Crypto CCO for the company, Christine Brown, tweeted that they successfully conducted an external transfer through their digital currency wallet, which has been in the making for months now. Interestingly, this first alpha transfer from the wallet was made using Dogecoin (DOGE). 

Robinhood first external transfer in Dogecoin

According to Brown, it cost them about 0.02 DOGE (just $0.005) to transfer 420.69 DOGE from the wallet to an external address, which is incredibly cheap. Except for the transfers within Robinhood, the users will be charged for transactions to external addresses, which is basically the network fees that go to the miners that validate transactions.