Robinhood Markets, Inc. HOOD has announced a gifting option just in time for the holidays that has the potential to "keep on giving."
What Happened: Robinhood customers will be able to customize and send a crypto gift to friends and family from the trading app beginning Dec. 22, the company announced in a Thursday blog post.
This option is unavailable in Hawaii and Nevada.
The crypto gifts come with a zero commission.
"The new experience allows gifting one of seven cryptocurrencies with a unique design and personal message," Robinhood said in a statement.
The cryptos the trading app has listed are: Bitcoin BTC/USD, Bitcoin Cash BCH/USD, Bitcoin SV BSV/USD, Ethereum ETH/USD, Ethereum Classic ETC/USD, Dogecoin DOGE/USD and Litecoin LTC/USD.
Related Link: Robinhood App Review
How Robinhood Crypto Gifting Works: A customer choosing to use the crypto gifting option can send as little as $1 worth of one of the seven cryptos. The crypto gift can be send directly to the recipient by sharing a link via email or text.
The company also asked its customers to have sufficient funds in their account before sending the gift.
Nine card designs are available to choose from and those using the option are also allowed to add a personalized message.
Once a gift is sent, the recipient has 14 days to accept their new crypto gift. If the giftee is a Robinhood customer, they will be redirected to the app to claim the gift. Non-customers are required to open a Robinhood account to claim the gift, which will work to the advantage of the trading app.
HOOD Price Action: Robinhood shares were down 6.41% late Thursday morning at $18.25.
Related Link: Could Robinhood List Shiba Inu In January? This Report Says It's 'Strong Possibility'
Photo courtesy of Robinhood.
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