Robinhood Connect is now Available for Fast Cryptocurrency Purchases on Uniswap Wallet

The well-known millennial trading platform Robinhood declared on April 30 that the Uniswap mobile application now had access to its Bitcoin Connect feature.

It also stated that qualifying Robinhood clients who purchase a comparable amount of cryptocurrency on the Uniswap wallet using Robinhood Connect as a payment option will receive $10 in the USD Coin (USDC) stablecoin as a reward.

Using Robinhood Connect to Increase Payment Options

Uniswap released a statement announcing this new functionality, currently available via the Uniswap mobile app. Coinbase Pay, Moonpay, and Robinhood Connect are the three platforms that allow users to acquire cryptocurrency on Uniswap.  

According to Uniswap’s post, the integration process is simple, especially for Robinhood Connect users who are using the Uniswap app for the first time. First-time customers using Robinhood Connect to buy at least $10 worth of cryptocurrency will earn an initial $10 incentive in USDC. This US dollar-denominated stablecoin will be added to their Robinhood account.

We're teaming up with Robinhood to make it easier to buy crypto 👀

You can now buy crypto with a debit card, bank transfer, or directly from your Robinhood balance in the Uniswap mobile app

Robinhood is sending users $10 USDC for giving it a try 👇 pic.twitter.com/nYAn9faJUR

— Uniswap Labs 🦄 (@Uniswap) May 3, 2024

This move is especially significant for the cryptocurrency community because it illustrates the expanding tendency of traditional financial services to combine with decentralized platforms. In addition to making acquiring digital assets easier, it guarantees that transactions will be more widely available.

Only US Clients  

Users can fund Web3 wallets from their Robinhood cryptocurrency accounts with the Robinhood Connect function, introduced in April 2023, without ever leaving the apps. It is restricted to US customers only, so the Uniswap integration will likewise be geo-targeted.

Coinbase Pay and Moonpay are two more fiat on-ramp providers already incorporated into the Uniswap app.

Thanks to the app, users don’t need to modify or set up networks to store, track, and access tokens across numerous chains. The Google Play Store has reported over 100,000 downloads. 

Late in April, an Ethereum layer-2 network, Polygon, and Robinhood joined to work on cross-chain swaps on the platform.

Also read: CFI Gets Regulatory Permission to Operate in South Africa