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MetaMask Partners with Robinhood to Simplify Crypto Transactions

MetaMask and Robinhood have teamed up to offer users the ability to make direct cryptocurrency purchases, as outlined in a press release disclosed to Cryptonews on February 7th.

Consensys, the developer behind MetaMask, collaborated with Robinhood Markets, Inc. to seamlessly integrate Robinhood Connect with the MetaMask wallet. This collaboration enables users in the United States to purchase cryptocurrencies via Robinhood’s trading platform directly through the MetaMask interface.

MetaMask Integrates with Robinhood for Direct Crypto Access

The collaboration is geared towards streamlining the crypto transaction process, utilizing Robinhood’s cost-effective order engine to offer MetaMask users a smooth and secure route to interact with digital assets.

Lorenzo Santos, Senior Product Manager at Consensys, expressed enthusiasm about the integration between MetaMask and Robinhood, emphasizing their joint commitment to simplifying access to self-custodial options for users. “We know that crypto and internet users want greater control and ownership,” Santos stated. “This will help more people access crypto in a seamless and self-custodial manner, by offering more buying options with service providers they already use and trust.”

Survey Reveals User Demand to Reduce Web3 Barrier

In a collaboration between Consensys and YouGov, a survey was conducted revealing a notable shift in the preferences of internet users regarding their digital presence.

With responses gathered from over 15,000 participants, the survey highlighted a growing desire for increased autonomy online, with 79% expressing a strong inclination towards having greater control over their internet identity. Moreover, the findings indicated a prevalent sentiment favoring ownership of digital content, with 67% of respondents asserting that they should maintain rights to the content they create online.

Despite the widespread enthusiasm for enhanced participation and ownership, approximately one-third of those surveyed cited the complexity of web3 technology as a significant barrier to entering the crypto space.

Seong Lee, Robinhood’s Head of Product for Crypto, emphasized the platform’s commitment to minimizing obstacles and promoting the adoption of web3. “At Robinhood, it’s our mission to reduce friction wherever possible to increase adoption of web3,” Lee stated. He further explained the functionality of Robinhood Connect, which offers existing Robinhood customers a seamless method to fund their self-custody wallet using debit, bank transfer, or Robinhood buying power, enabling users to promptly utilize their crypto assets.

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I want to save money. Will cryptocurrency work?

Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

Every cryptocurrency has two main components: the units of digital exchange called “coins” and the network within which the exchange takes place. These units can be transferred between wallets and exchanged on exchanges. The networks in which these coins exist are called blockchains, which translates to “chains of blocks.”

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