Home Cryptocurrency News Robinhood first-quarter cryptocurrency traders jump six-fold to 9.5 million

Robinhood first-quarter cryptocurrency traders jump six-fold to 9.5 million

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(Reuters) – On-line brokerage Robinhood stated on Thursday that 9.5 million customers traded cryptocurrency on its platform in the course of the first quarter of 2021, hovering practically six-fold from the earlier quarter.

Cyrptocurrencies are discovering wider acceptance with a rising checklist of companies investing in or holding bitcoin, together with electric-car maker Tesla Inc, BlackRock Inc, the world’s largest asset supervisor, and funds firms Sq. and PayPal.

The value of bitcoin, the world’s greatest cryptocurrency, rose greater than 300% in 2020 and final month hit a document excessive of $61,781.83, however has since come off its highs.

Robinhood presently permits clients to purchase, promote and maintain cryptocurrencies, and had stated it plans to offer clients the flexibility to deposit and withdraw them for transfers to different wallets as nicely.

Reporting by Munsif Vengattil in Bengaluru; Enhancing by Anil D’Silva and Vinay Dwivedi

Disclaimer: The views expressed on this article are these of the writer and should not replicate these of Kitco Metals Inc. The writer has made each effort to make sure accuracy of knowledge offered; nonetheless, neither Kitco Metals Inc. nor the writer can assure such accuracy. This text is strictly for informational functions solely. It’s not a solicitation to make any alternate in commodities, securities or different monetary devices. Kitco Metals Inc. and the writer of this text don’t settle for culpability for losses and/ or damages arising from using this publication.

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