The digital asset product of Robinhood got released 3 years back. It gained an average of two hundred thousand new users a month last year, as per a blog post by the financial services company.
Nevertheless, the app’s popularity has surged considerably this year. Last month alone more than three million individuals signed up to use the trading platform.
In a blog post, the company mentioned,
“The numbers are clear: 2021 has started with a crypto bang.”
The post further added that the average transaction size is approximately five hundred USD on the app.
The platform’s users can purchase and sell BTC, BCH, ETH, Bitcoin SV, Dogecoin, Ethereum Classic, and Litecoin. Customers can purchase and sell virtual assets but they cannot take out their purchased cryptocurrencies.
Notably, the trading platform made a lot of buzz in the mainstream media during the GameStop saga this year. It momentarily halted “meme stocks” buying when unprofessional traders were rapidly purchasing the failing shares of the video game retailer.
Nevertheless, the app seems to have found a niche and has gotten off to a gigantic beginning in 2021.
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