Roughly 9.5 million people swap cryptocurrency on the Robinhood app in the first quartern of 2021 , the company announced in a new blog billet onThursday . The numeral is significantly high-pitched than the last quarter of 2020 , when just 1.7 million people switch cryptocurrencies on Robinhood , according to the company .
The news from Robinhood comes as cryptocurrencies like bitcoin and ether become more and more mainstream , even as the peril remain significant . Companies like PayPal are move into thecrypto trading arenaand it ’s becoming much easier for the average consumer to convert fiat currencies into digital Monopoly money .
But while PayPal has a comparatively limited act of fanciful currentness on offer , Robinhood has included a wider pick , include the joke currency Dogecoin — a memecoin that billionaire Elon Musk has tried to pump several times to very footling trend .
Photo: Justin Sullivan (Getty Images)
From Robinhood’sblog Wiley Post :
Robinhood Crypto presently offer seven tradeable coins : Bitcoin , Bitcoin Cash , Bitcoin SV , Dogecoin , Ethereum , Ethereum Classic , and Litecoin . They vary more or less , but they ’re united by the same general philosophy that underpins all cryptocurrency .
That philosophical system ? Getting fat without having to operate . Or , if Robinhood is to be beleived , a “ mission to take power away from institutions and return it to the hoi polloi . ”
Robinhood ’s crypto bit are surely impressive , but they ’re still relatively modest when compare with other engineering . For example , Pew released anew studyabout societal media this week showing that 81 % of U.S. adults utilise YouTube , 69 % use Facebook , and 40 % use Instagram . Bitcoin boosters would stamp out for that sort of uptake .
Cryptocurrencies will certainly go forward to uprise in 2021 , but the long - terminal figure outlook is still very much up the tune , especially as primal banks around the world contemplate creating theirown digital currency . Does bitcoin have a future when the people running major world economies get serious about digital money ? Only time will tell . But invest at your own risk .
We all commend the bitcoincrash of 2018that lost plenty of mass a lot of money . Here ’s hoping multitude don’tlose their homeswhen it inescapably crashes again .
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