Robinhood allows customers to deposit, withdraw cryptocurrencies

In a statement, online broker Robinhood said, it intends to allow customers the ability to deposit and withdraw cryptocurrencies, including the meme-based dogecoin.

Currently, Robinhood, a trading app popular with young investors, allows customers to buy, sell and hold cryptocurrencies including Bitcoin on its platform; however, it does not allow its users to withdraw their assets or to transfer them to other wallets.

Earlier this year in January, Robinhood had temporarily disabled a feature on its app that enabled users to purchase crypto securities citing heightened volatility in the market, sparked by a trading frenzy in shares of GameStop Corp. Robinhood faced criticism from users who could not move their assets to other wallets.


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