Popularity, whether good or bad, always put the person into more limelight and this is what is happening to Robinhood.
People wouldn’t forget Robinhood’s role in the famous incident of GameSpot where the elites were taken down by mediocre traders. Since the incident, Robinhood has been enjoying a prominent position in the trading industry.
Recently the company has shared some interesting stats which prove that the crypto boom isn’t a myth at all but a reality instead.
Christine Brown, Crypto Operations Head at Robinhood revealed that over 9.5 million customers carried out crypto trading in Q1 of 2021. It also revealed that in the end quarter of 2020, the number was about 1.7 million only. This shows how quickly Robinhood has been acquiring crypto traders from across the world.
Robinhood was launched as an independent free-of-cost online trading platform that was to be available to everyone. After its launch, it earned respect amongst professional traders and soon begin to host a great number of novice as well as pro traders. It started off as a platform suitable for poor and mediocre traders but today is one of the top online trading portals.
But through its inception, it wasn’t hosting crypto trading which was started only in 2018. At that time the company told that it had acquired a huge number of crypto traders but did not provide any evidence. The claims were regarded as lies by the majority of people. However, for the past 16 months, Robinhood is hosting huge numbers of crypto trading.
In the month of February this year, Robinhood apprised that it has seen some 6.5 million new customers joining the platform. Now the company has revealed that its crypto customers have increased to more than 9.5 million.
Brown informed that when crypto trading was launched, the company wanted to provide opportunities of crypto trading to its customers. She said that since 2018, Robinhood has been continuously rendering crypto trading services without any interruption at all. She also said that in the future, Robinhood is going to add more cryptocurrencies because there is huge demand from its increasing customers.
For the time being, there are only seven cryptocurrencies enlisted with Robinhood’s platform. These currencies include first of all Bitcoin and then Ethereum, BTC, Litecoin, Bitcoin SV, Ethereum Classic and Dogecoin.
Brown further revealed that since the inception of crypto trading, its team has increased immensely. She said that Robinhood is looking forward to employ more people within the platform for ensuring best crypto trading experience. Currently, Robinhood is looking for engaging the services of a Chief Financial Officer for its crypto trading. For this purpose, job posts have also been published on the website along with various other posts.
Robinhood’s vision regarding crypto trading is crystal clear i.e. crypto is an essential component of its trading pursuits.