Does Robinhood have a Bitcoin Lightning Network?

Stock and cryptocurrency trading app Robinhood announced at the Bitcoin 2022 conference today that it’s making plans to add the Bitcoin Lightning Network to its platform for speedier BTC transactions. It also shared that eligible users from its beta crypto waitlist can now send and receive crypto through its crypto wallet feature.

What is Bitcoin Lightning & how does it work?

Lightning is a decentralized network that uses smart contract functionality in the Bitcoin blockchain to facilitate instant payments across a network of users. It’s considered an off-chain or layer-2 solution because it involves activity that doesn’t occur directly on the blockchain. Why Does Bitcoin Need Lightning?

Is Robinhood’s crypto trading making money?

Robinhood’s almost three-year-old crypto trading functionally has produced an explosion of revenue, last quarter generating $48 million for the publicly traded firm. “Wallets are just the first step we’re taking to connect our customers to the broader crypto ecosystem,” CEO Vlad Tenev said in a press statement.

Can you move Bitcoin (BTC) into Robinhood's walled garden?

Only a handful of wallet beta testers could move bitcoin (BTC), ether (ETH), dogecoin (DOGE) and a handful of other traded coins in and out of Robinhood’s walled garden before. Now, all waitlisted customers outside of regulatory no-go zones Nevada, New York and Hawaii can do so.