Avalanche (AVAX) Transfers Now Supported by Robinhood

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Alex Dovb­nya

Bro­ker­age app Robin­hood has added sup­port for Avalanche (AVAX) after list­ing the cryp­tocur­ren­cy for trad­ing in ear­ly August 

Pop­u­lar bro­ker­age app Robin­hood has enabled trans­fers for the Avalance (AVAX) cryp­tocur­ren­cy, accord­ing to a recent tweet.

As report­ed by U.Today, Robin­hood made the AVAX token avail­able for trad­ing on its plat­form along­side Stel­lar (XLM).

The com­pa­ny rolled out Bit­coin trans­fers for its cus­tomers back in July. The fea­ture had been in the works since late September.

Pri­or to that, Robin­hood users weren’t capa­ble of mov­ing their tokens in and out of the app.

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The com­pa­ny allows its cus­tomers to receive such coins as Bit­coin, Bit­coin Cash, Chain­link, Lite­coin, Shi­ba Inu, and some oth­er altcoins.

Robin­hood also sup­ports mul­ti-chain trans­fers for the Poly­gon (MATIC) cryp­tocur­ren­cy. The cryp­tocur­ren­cy was ini­tial­ly avail­able on Ethereum, but the app lat­er enabled trans­fers on the Poly­gon network.

The cus­tomers of the pop­u­lar bro­ker­age app have to ver­i­fy their iden­ti­ty in order to gain the abil­i­ty to trans­fer tokens.

The amount of cryp­to that is moved per day is lim­it­ed to $5,000.

Ear­li­er this week, Robin­hood intro­duced a beta ver­sion of its Web3 cryp­tocur­ren­cy wal­let. Its Poly­gon-based wal­let became avail­able for 10,000 users. It allows users to con­nect to decen­tral­ized appli­ca­tions in order to earn yield. Robin­hood also says that the appli­ca­tion would allow trad­ing tokens with zero net­work fees. The final ver­sion of the wal­let will also sup­port non-fun­gi­ble tokens (NFTs).

Robin­hood launched its non-cus­to­di­al wal­lets in May, allow­ing cus­tomers to man­age their own crypto.

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