Six Million Newcomers on Robinhood Crypto in 2021

by in Cryptocurrency News

Robinhood new users

California-based free trading app Robinhood stated on Thursday that there are 6.000.000 more users of the Robinhood Crypto in the ongoing year.

Related: Bitcoin futures trading volume hits new high

Robinhood began offering crypto activities in 2018. Last May it reported having over 13 M clients.

In January as well as February, the platform attracted over 2.9 M newbies. It's worth mentioning that the biggest number of dealers in 2020 was 401.000. As reported, the medium purchase sum this year was $500.

Now, Robinhood Crypto enables the purchase of 7 digital currencies: BTC, Bitcoin Cash, Bitcoin SV, DOGE, Ether, Ethereum Classic, and LTC.

In January Robinhood suspended operations for some stocks such as GameStop and AMC. The reason was raised rates caused by retail exchanging social media forums. Eventually, the platform allowed their limited buys.

Vice-chairman of Berkshire Hathaway and long-time business mate of Warren Buffett Charlie Munger criticized Robinhood recently. At the Annual Meeting of Shareholders of the Daily Journal Corporation, he called the no-commission business model “a dirty way to make money.” The billionaire said that "No one should believe that Robinhood's traders are free". Robinhood answered Munger's criticism calling it “disappointing and elitist.”