2 November 2024
Robinhood earns 6 Million New Crypto Users
Robinhood- the online trading platform proudly announced that around 6 million new customers have signed up for its app in the first two months of 2021 amid the crypto world’s uncertainty.
Based on its blog post, in 2020, Robinhood had an average of 200,000 new users trading on its platform per month. But, this year, the app’s popularity has surged tremendously, with over 3 million new users signing up alone in the last month with an average transaction size of around $500.
“The numbers are clear: 2021 has started with a crypto bang,” the company stated.
Currently, Robinhood allows users to buy, sell and hold cryptocurrencies like Bitcoin, Bitcoin Cash, Bitcoin SV, Dogecoin, Ethereum, Ethereum Classic, and Litecoin.
Recently, the trading platform also announced its plans to implement crypto deposits and withdrawals. On 29 January, Robinhood had angered some of its users when it had suspended a feature that allowed instant buying of crypto securities due to volatile market conditions sparked by the GameStop trading frenzy.
However, it is expected Robinhood to unveil a value of more than $20 billion soon this year.
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