CINXE.COM

Robinhood User Statistics & Revenue in 2024

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class="Written-by-name"> <span classs="Written-by-name-popup"> <p class="Written-list-name"> Written by <a>Sudhir Khatwani</a> </p> <section class="component-wrapper"> <div class="writer-wrapper"> <div class="writer"> <div class="name-wrapper"> <p class="wr-name-p">Written by:</p> <div class="inner-name-wrapper"> <p class="wr-pfont">Sudhir Khatwani</p> <p></p> </div> </div> <a href="https://socialcapitalmarkets.net/author/sudhir/" class="icon-wrapper"><svg width="12" height="10" viewBox="0 0 12 10" fill="none" xmlns="http://www.w3.org/2000/svg"> <path fill-rule="evenodd" clip-rule="evenodd" d="M6.21967 0.209209C6.51256 -0.0697365 6.98744 -0.0697365 7.28033 0.209209L11.7803 4.49492C12.0732 4.77387 12.0732 5.22613 11.7803 5.50508L7.28033 9.79079C6.98744 10.0697 6.51256 10.0697 6.21967 9.79079C5.92678 9.51184 5.92678 9.05958 6.21967 8.78064L9.43934 5.71429L0.750001 5.71429C0.335787 5.71429 0 5.39449 0 5C0 4.60551 0.335787 4.28571 0.750001 4.28571H9.43934L6.21967 1.21936C5.92678 0.940416 5.92678 0.488155 6.21967 0.209209Z" fill="white" /> </svg></a> </div> <div class="writer-content"> <p>Sudhir Khatwani holds a bachelor's degree from Vellore Institute of Technology and has made significant contributions as a Programmer Analyst at Cognizant, where he worked on critical projects for leading financial institutions like MUFG and CITI Bank. His technical expertise and analytical skills have been instrumental in delivering high-impact solutions within the financial sector. His expertise in digital assets and blockchain technology was further honed through his previous role as a content strategist for the prominent cryptocurrency exchange, CoinSwitch.</p> <div class="social-media-icon"> <a href="https://twitter.com/sudhirkhatwani?lang=en" target="_blank"><img width="20" height="20" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2020%2020'%3E%3C/svg%3E" alt="twitter" data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/twitter.png"><noscript><img width="20" height="20" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/twitter.png" alt="twitter"></noscript></a> <a href="https://www.linkedin.com/in/sudhir-khatwani/?originalSubdomain=in" target="_blank"><img width="18" height="17" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%2018%2017'%3E%3C/svg%3E" alt="linkedin" data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/linkedin.png"><noscript><img width="18" height="17" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/linkedin.png" alt="linkedin"></noscript></a> </div> </div> </div> </section> </span> </div> <div class="Written-by-name"> <p class="expert-reviewed-tag"><a> <img width="60" height="60" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/Frame-20.svg"> Expert reviewed</a> </p> <section class="component-wrapper"> <div class="writer-wrapper"> <div class="writer-content no-spacing-wrapper pt-0 border-0"> <p><p class="expert-rev">Expert Reviewed</p> <p>This article has been reviewed by crypto market experts at SCM to ensure all the content, sources, and claims adhere to the highest standards of accuracy and reliability.</p> </p> </div> </div> </section> </div> </div> <div class="Written-by-name"> <p class="Last-Updated-tag"><img width="14" height="14" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/04/clock.svg">Last Updated on November 22, 2024 </p> </div> </div> </div> </div> <div class="scm-detiles-page commen_page"> <div class="container"> <div class="row"> <div class="col scm-detials-col"> <div id="primary" class="content-area"> <div class="content-container site-container"> <main id="main" class="site-main" role="main"> <div class="content-wrap"> <article id="post-3288" class="entry content-bg single-entry post-3288 page type-page status-publish has-post-thumbnail hentry"> <div class="entry-content-wrap"> <div class="entry-content single-content"> <p style="text-align: justify;">Robinhood is an online financial service platform that allows investments without any commission. Along with cryptocurrency, the platform offers trading of stocks and exchange-traded funds.</p> <p style="text-align: justify;">Robinhood first came into existence in 2013. It was developed as an online broker platform by two Stanford University students, Vlad Tenev and Baiju Bhatt.</p> <p style="text-align: justify;">They designed this platform with low fees and fewer trading barriers to make investment easy for people without much investing experience.</p> <p style="text-align: justify;">Vlad and Baiju wanted to attract the youth towards investments and trading.</p> <p style="text-align: justify;">For years, it remained popular as an online brokerage platform dealing in stock options and ETF until cryptocurrency trading was added to the platform in 2018. In 2024, Robinhood now supports trading <a href="https://robinhood.com/eu/en/about/crypto/" target="_blank" rel="noopener">more than 30 cryptocurrencies. </a></p> <p style="text-align: justify;">From the start, Robinhood has been a commission-free trading platform, but the company has been generating significant revenue in payment for order of flow.</p> <p style="text-align: justify;">In this process, whenever a trade is made on the platform, Robinhood directs these orders to other more prominent organizations for trade execution.</p> <p style="text-align: justify;">Robinhood doesn&#8217;t send the trade orders directly to the stock exchange. Instead, it lets third-party market makers bid for the order.</p> <p style="text-align: justify;">It selects the best bidder with the best trade execution record. Even by using this method and not charging a commission, it seems like Robinhood has managed to thrive in the market.</p> <p style="text-align: justify;">We have gathered data depicting how Robinhood tackled all the obstacles to keep emerging as a successful company.</p> <p style="text-align: justify;">Keep reading to find more through data.</p> <h2 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Summary_of_Robinhood_Statistics"></span>Summary of Robinhood Statistics<span class="ez-toc-section-end"></span></h2> <ol class="wp-block-list" style="text-align: justify;"> <li>As per the last count in May of 2024, Robinhood has 24.1 million funded accounts.</li> <li>The revenue earned by Robinhood in the first quarter of 2024 i<a href="https://investors.robinhood.com/news/news-details/2024/Robinhood-Reports-First-Quarter-2024-Results/default.aspx" target="_blank" rel="noopener">s $618 million</a>.</li> <li>In 2023, Robinhood made a profit of about $30 million.</li> <li>Since the beginning of 2024, the share prices of Robinhood increased by 50%.</li> <li>Robinhood recorded a notional crypto trading volume of $36 billion in the first quarter 2024.</li> </ol> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Robinhood_Funded_Accounts_Count"></span>Robinhood Funded Accounts Count<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">On Robinhood, the accounts that have money deposited and are ready for trading are called funded accounts. Users holding such accounts are automatically referred to as funded customers.</p> <p style="text-align: justify;">The last counted data of May 2024 shows that Robinhood <a href="https://investors.robinhood.com/news/news-details/2024/Robinhood-Markets-Inc.-Reports-May-2024-Operating-Data/default.aspx" target="_blank" rel="noopener">has 24.1 million funded </a>accounts worldwide. In 2023, the cumulative funded account count was <a href="https://investors.robinhood.com/news/news-details/2023/Robinhood-Markets-Inc.-Reports-November-2023-Operating-Data/default.aspx" target="_blank" rel="noopener">23.3 million. </a></p> <p style="text-align: justify;">From 2023 to just the first quarter of <strong>2024, the funded account or user number grew by 3.43%.</strong> Again, when the funded account count 2023 is compared against the<a href="https://www.sec.gov/Archives/edgar/data/1783879/000178387922000162/robinhoodexhibit991_63022.htm#:~:text=Net%20Cumulative%20Funded%20Accounts%20were,increase%20of%20100%20thousand%20sequentially." target="_blank" rel="noopener"> data for 2022, </a>we see a growth <strong>percentage of 1.75%.</strong></p> <p style="text-align: justify;">After looking at the data closely, it can be quickly concluded that the funded account numbers on Robinhood have only increased over the years.</p> <p style="text-align: justify;">There are no big jumps, but there has been a steady increase in funded users. For instance, from 2020 to the first quarter of 2024, the <strong>number of funded accounts surged by 92.8%. </strong>This only proves that Robinhood is not just thriving but growing, too.</p> <figure class="wp-block-table aligncenter" style="text-align: justify;"> <table> <tbody> <tr> <td>Year</td> <td>Number Of Funded Accounts</td> </tr> <tr> <td>2020</td> <td><a href="https://www.sec.gov/Archives/edgar/data/1783879/000162828021013318/robinhoods-1.htm#:~:text=In%202020%2C%20our%20Net%20Cumulative,through%20the%20Robinhood%20Referral%20Program." target="_blank" rel="noopener">12.5 Million</a></td> </tr> <tr> <td>2021</td> <td><a href="https://investors.robinhood.com/news/news-details/2022/Robinhood-Reports-Fourth-Quarter-and-Full-Year-2021-Results/#:~:text=Net%20Cumulative%20Funded%20Accounts%20increased,as%20of%20December%2031%2C%202020." target="_blank" rel="noopener">22.7 Million</a></td> </tr> <tr> <td>2022</td> <td>22.39 Million</td> </tr> <tr> <td>2023</td> <td>23.3 Million</td> </tr> <tr> <td>May 2024</td> <td>24.1 Million</td> </tr> </tbody> </table> </figure> <div class="wp-block-image"> <figure class="aligncenter size-full is-resized" style="text-align: justify;"><img fetchpriority="high" decoding="async" width="1024" height="768" class="wp-image-3422 aligncenter" style="width: 456px; height: auto;" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20768'%3E%3C/svg%3E" alt="" data-lazy-srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-4.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-4-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-4-768x576.png 768w" data-lazy-sizes="(max-width: 1024px) 100vw, 1024px" data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-4.png" /><noscript><img fetchpriority="high" decoding="async" width="1024" height="768" class="wp-image-3422 aligncenter" style="width: 456px; height: auto;" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-4.png" alt="" srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-4.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-4-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-4-768x576.png 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></noscript></figure></div> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Robinhood_Annual_User_Statistics"></span>Robinhood Annual User Statistics<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">The total number of users last year,i.e., in 2023, was 10.8 million. This figure is not wrong, but it is lower than Robinhood&#8217;s highest user count in 2021, 22.5 million.</p> <p style="text-align: justify;">As per the reports,<a href="https://www.businessofapps.com/data/robinhood-statistics/" target="_blank" rel="noopener"> annual user</a>s began declining after 2021.</p> <p style="text-align: justify;">In 2022, the count came to a stop at 14 million. <strong>There was a significant drop of 37.78% between 2021 and 2022.</strong> From 2022 to 2023, <strong>users again fell by 22.86%.</strong></p> <p style="text-align: justify;">Every year, ar the number of people using Robinhood increases. Hence, it&#8217;s time for the company to find out the reason that&#8217;s causing user count to fall year after year.</p> <figure class="wp-block-table aligncenter" style="text-align: justify;"> <table> <tbody> <tr> <td>Year</td> <td>Annual User Count</td> </tr> <tr> <td>2015</td> <td>0.5 Million</td> </tr> <tr> <td>2016</td> <td>1 Million</td> </tr> <tr> <td>2017</td> <td>2 Million</td> </tr> <tr> <td>2018</td> <td>6 Million</td> </tr> <tr> <td>2019</td> <td>10 Million</td> </tr> <tr> <td>2020</td> <td>13 Million</td> </tr> <tr> <td>2021</td> <td>22.5 Million</td> </tr> <tr> <td>2022</td> <td>14 Million</td> </tr> <tr> <td>2023</td> <td>10.8 Million</td> </tr> </tbody> </table> </figure> <div class="wp-block-image"> <figure class="aligncenter size-full is-resized" style="text-align: justify;"><img decoding="async" width="1024" height="768" class="wp-image-3414" style="width: 504px; height: auto;" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20768'%3E%3C/svg%3E" alt="" data-lazy-srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-768x576.png 768w" data-lazy-sizes="(max-width: 1024px) 100vw, 1024px" data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2.png" /><noscript><img decoding="async" width="1024" height="768" class="wp-image-3414" style="width: 504px; height: auto;" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2.png" alt="" srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-2-768x576.png 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></noscript></figure></div> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Revenue_Earned_By_Robinhood"></span>Revenue Earned By Robinhood<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">In the case of Robinhood, the net revenue includes all the incomes from transactions, interest, and gold subscriptions.</p> <p style="text-align: justify;">For the Q1 of 2024, Robinhood reported a net revenue of $618 million, and it&#8217;s just the start. We still have three more quarters to go.</p> <p style="text-align: justify;">The records state that the<a href="https://www.macrotrends.net/stocks/charts/HOOD/robinhood-markets/revenue#:~:text=Robinhood%20Markets%20annual%20revenue%20for,a%2025.18%25%20decline%20from%202021." target="_blank" rel="noopener"> net revenue </a>in 2023 was $1.87 billion, a<strong>聽38.51% </strong>increase from 2022. In 2022, Robinhood&#8217;s closing net revenue was $1.35 billion. These variations in data show an upward trend in income for the company.</p> <figure class="wp-block-table aligncenter" style="text-align: justify;"> <table> <tbody> <tr> <td>Year</td> <td>Net Revenue</td> </tr> <tr> <td>2019</td> <td>$278 Million</td> </tr> <tr> <td>2020</td> <td>$958 Million</td> </tr> <tr> <td>2021</td> <td>$1.8 Billion</td> </tr> <tr> <td>2022</td> <td>$1.35 Billion</td> </tr> <tr> <td>2023</td> <td>$1.87 Billion</td> </tr> <tr> <td>Q1 2024</td> <td>$618 Million</td> </tr> </tbody> </table> </figure> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Robinhood_Assets_Under_Custody_Statistics"></span>Robinhood Assets Under Custody Statistics<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">Simply put, the term &#8216;Assets Under Custody&#8217; means the total value of financial assets that a financial organization manages or holds on behalf of its clients.</p> <p style="text-align: justify;">Here we are talking about the amount of financial assets Robinhood holds in its custody on behalf of its customers.</p> <p style="text-align: justify;">According to the reports, Robinhood had about <a href="https://investors.robinhood.com/news/news-details/2023/Robinhood-Markets-Inc.-Reports-November-2023-Operating-Data/default.aspx" target="_blank" rel="noopener">$94.4 billion</a> in assets under control in 2023, which in Q1 of 2024 increased to <a href="https://investors.robinhood.com/news/news-details/2024/Robinhood-Reports-First-Quarter-2024-Results/default.aspx#:~:text=Total%20net%20revenues%20increased%2040,%2439%20million%2C%20up%2044%25." target="_blank" rel="noopener">$129.6 Billion. </a></p> <p style="text-align: justify;">There is a <strong>37.29% increase in the value of assets </strong>under Robinhood&#8217;s custody since 2023. This increase reflects the growth of Robinhood.</p> <p style="text-align: justify;">It also indicates that users are learning to trust Robinhood with their assets.</p> <figure class="wp-block-table aligncenter" style="text-align: justify;"> <table> <tbody> <tr> <td>Year</td> <td>Amount Of Assets Under Custody</td> </tr> <tr> <td>2020</td> <td><a href="https://investors.robinhood.com/news/news-details/2022/Robinhood-Reports-Fourth-Quarter-and-Full-Year-2021-Results/#:~:text=Net%20Cumulative%20Funded%20Accounts%20increased,as%20of%20December%2031%2C%202020." target="_blank" rel="noopener">$63 Billion </a></td> </tr> <tr> <td>2021</td> <td>$94 Billion</td> </tr> <tr> <td>2022</td> <td><a href="https://investors.robinhood.com/news/news-details/2023/Robinhood-Reports-Fourth-Quarter-and-Full-Year-2022-Results/default.aspx#:~:text=Assets%20Under%20Custody%20(AUC)%20decreased,offset%20by%20continued%20net%20deposits." target="_blank" rel="noopener">$62 Billion</a></td> </tr> <tr> <td>2023</td> <td>$94.4 Billion</td> </tr> <tr> <td>Q1 2024</td> <td>$129.6 Billion</td> </tr> </tbody> </table> </figure> <div class="wp-block-image"> <figure class="aligncenter size-full is-resized" style="text-align: justify;"><img decoding="async" width="1024" height="768" class="wp-image-3418" style="width: 519px; height: auto;" src="data:image/svg+xml,%3Csvg%20xmlns='http://www.w3.org/2000/svg'%20viewBox='0%200%201024%20768'%3E%3C/svg%3E" alt="" data-lazy-srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-3.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-3-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-3-768x576.png 768w" data-lazy-sizes="(max-width: 1024px) 100vw, 1024px" data-lazy-src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-3.png" /><noscript><img decoding="async" width="1024" height="768" class="wp-image-3418" style="width: 519px; height: auto;" src="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-3.png" alt="" srcset="https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-3.png 1024w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-3-300x225.png 300w, https://socialcapitalmarkets.net/wp-content/uploads/2024/06/Untitled-design-3-768x576.png 768w" sizes="(max-width: 1024px) 100vw, 1024px" /></noscript></figure></div> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Notional_Crypto_Trading_Volume_On_Robinhood"></span>Notional Crypto Trading Volume On Robinhood<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">Over the years, the volume of notional crypto trading has decreased. For instance, in 2023, the company ended the year with a notional crypto trading volume figure of <a href="https://investors.robinhood.com/news/news-details/2023/Robinhood-Markets-Inc.-Reports-November-2023-Operating-Data/default.aspx" target="_blank" rel="noopener">$4 billion</a>, which was<a href="https://investors.robinhood.com/news/news-details/2022/Robinhood-Markets-Inc.-Reports-August-2022-Operating-Data/default.aspx" target="_blank" rel="noopener"> $5.3 billion in 2022.</a><strong> The trading volume went down in 2023 by 24.53%</strong>.</p> <p style="text-align: justify;">However, the start of 2024 brought some hope. In March, the notional crypto trading volume stood at $23.6 billion. But in just two months, numbers<strong> suffered a sharp 57% decline,</strong> and the notional crypto trading volume came down to <a href="https://www.bnnbloomberg.ca/robinhood-s-crypto-trading-volume-falls-faster-than-rival-exchanges-1.2074053" target="_blank" rel="noopener">$10.1 billion</a> in May.</p> <p style="text-align: justify;">Still, the numbers are way better than the records of 2023 or 2022.</p> <figure class="wp-block-table aligncenter" style="text-align: justify;"> <table> <tbody> <tr> <td>Year</td> <td>Notional Crypto Trading Volume</td> </tr> <tr> <td>2020</td> <td><a href="https://investors.robinhood.com/news/news-details/2022/Robinhood-Reports-Fourth-Quarter-and-Full-Year-2021-Results/" target="_blank" rel="noopener">$27 Million</a></td> </tr> <tr> <td>2021</td> <td><a href="https://investors.robinhood.com/news/news-details/2022/Robinhood-Reports-Fourth-Quarter-and-Full-Year-2021-Results/default.aspx" target="_blank" rel="noopener">$419 Million</a></td> </tr> <tr> <td>2022</td> <td>$5.3 Billion</td> </tr> <tr> <td>2023</td> <td><a href="https://investors.robinhood.com/news/news-details/2023/Robinhood-Markets-Inc.-Reports-November-2023-Operating-Data/default.aspx" target="_blank" rel="noopener">$4.0 Billion</a></td> </tr> <tr> <td>March 2024</td> <td>$23.6 Billion</td> </tr> <tr> <td>May 2024</td> <td>$10.1 Billion</td> </tr> </tbody> </table> </figure> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="FAQs"></span>FAQs<span class="ez-toc-section-end"></span></h3> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Q1_Is_Robinhood_safe_to_use"></span>Q1. Is Robinhood safe to use?<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">Robinhood is a Financial Industry Regulatory Authority member and registered with the Security and Exchange Commission.</p> <p style="text-align: justify;">It follows all security laws established by these regulatory bodies to protect the investors&#8217; funds.</p> <p style="text-align: justify;">The platform is also registered with the Security Investors Protection Corporation (SIPC) which offers<a href="https://robinhood.com/us/en/support/articles/how-youre-protected/" target="_blank" rel="noopener"> insurance coverage </a>of $500,000 out of which $250,000 can be claimed as cash.</p> <p style="text-align: justify;">In addition to this, they have also brought another external insurance to support the SIPC one.</p> <p style="text-align: justify;">If, by chance, the SIPC insurance limits are exceeded, this extra layer offers coverage of $1 billion and gives a combined return of $50 million per customer.</p> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Q2_What_percent_of_Annual_Robinhood_Users_Traded_Crypto_in_2023"></span>Q2. What percent of Annual Robinhood Users Traded Crypto in 2023?<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">In 2023, the total annual user on the platform was 10.8 million. As per the reports, out of these 10.8 million users, about 2.3 million traded at least once. Based on this data, if we calculate, we<strong>聽find that 21.3% of annual users </strong>traded crypto in 2023.</p> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Q3_What_are_the_most_held_cryptocurrencies_on_Robinhood"></span>Q3. What are the most held cryptocurrencies on Robinhood<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">The most held cryptocurrencies on Robinhood in 2024 are &#8211;</p> <ol class="wp-block-list" style="text-align: justify;"> <li><strong>Bitcoin (BTC)</strong></li> <li><strong>Ethereum (ETH)</strong></li> <li><strong>Dogecoin (DOGE)</strong></li> <li><strong>Cardano (ADA)</strong></li> <li><strong>Solana (SOL)</strong></li> </ol> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Q4_Is_there_a_minimum_balance_requirement_to_trade_on_Robinhood"></span>Q4. Is there a minimum balance requirement to trade on Robinhood?<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">No. For trading on Robinhood, no minimum balance is required.</p> <h3 class="wp-block-heading" style="text-align: justify;"><span class="ez-toc-section" id="Q5_Can_investments_from_another_brokerage_be_transferred_to_Robinhood"></span>Q5. Can investments from another brokerage be transferred to Robinhood?<span class="ez-toc-section-end"></span></h3> <p style="text-align: justify;">Yes. Robinhood is equipped with an Automated Customer Account Transfer Service feature. 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