As the cryptocurrency industry continues, investors from all over the world are jumping onto every opportunity they can find to invest in acquiring cryptocurrencies. Something very similar has been reported by Robinhood with respect to the influx of new investors.
The firm is reportedly handling and catering to more cryptocurrency investors than ever. The trading application that is retail-focused “Robinhood” has shared the number of investors that have joined the platform in the running year.
The firm has revealed the number of investors that are joining the platform on a monthly basis is significantly high. Robinhood analysis teams have confirmed that they are now getting 15 times more users on average than they were getting in the year 2020.
The company has also announced the total number of users that joined Robinhood’s cryptocurrency platform in January 2021. Only in the month of January, Robinhood observed more than 3 million cryptocurrency users joining the platform. All of these users joined the platform for one particular purpose and that was to purchase cryptocurrencies.
The company has also revealed that so far in the month of February, more than 2.9 million users have joined the Robinhood platform. This is again only the number of users that have joined the Robinhood platform to purchase cryptocurrencies.
In total, Robinhood has had its platform joined by almost 6 million users who wanted to spend in purchasing cryptocurrencies for the year 2021 so far.
As compared to the year 2020, the number of users that have joined Robinhood is extremely high. The firm has announced that in the year 2020, the total number of users who joined Robinhood with the intention of purchasing cryptocurrencies was just 2.4 million.
When it comes to the year 2020, the majority of the influx that Robinhood experienced started coming in from the 3rd quarter of the year. It happened because the majority of the users started joining after the surge in the prices for Bitcoin (BTC) and altcoins.
According to stats, the average number of users who joined the platform on a monthly basis in the year 2020 was 200,000. In addition to the monthly users, the firm also reported an average transaction size of $500 that was observed for the year 2021. However, in the first three quarters of the year 2020, the average transaction size experienced was just $250.
In the light of the above influx and events, the firm is now confident that the year 2021 will turn out to be the best for the cryptocurrency industry.
The firm has also revealed that it is now exploring new opportunities and options for adopting cryptocurrencies. It is also aiming to launch new products and services that will prove to be extremely useful for the cryptocurrency industry.