Robinhood reports 7x growth in female crypto traders

TL;DR Breakdown:

• Robinhood has revealed that more than 40 percent of cryptocurrency traders on the platform are females.
• More female investors/traders are increasingly joining the crypto space.
• In February, the trading platform reported about six million new crypto users.

Recently, Robinhood, the US-based retail trading platform, reported a massive increase in the number of users trading digital currencies on their platform. A good number of the cryptocurrency traders on the platform are female, according to a Bloomberg report on Thursday. This is indicative that females are increasingly catching interest in the digital currency space, which is seemingly dominated by males.

40% of crypto traders on Robinhood are females

As reported, Robinhood has seen a seven-times growth in the number of female users trading cryptocurrencies on its platform since the end of 2020. At least about 40 percent of its active cryptocurrency traders are female. The company precisely wrote:

“While women remain underrepresented on Robinhood Crypto compared with our total active customer base, it is notable that 40 percent of Robinhood active women customers are crypto traders. […] These figures are encouraging and prove that crypto can be a powerful tool in decentralizing power in finance.”

Over 6 million new users

As Cryptopolitan reported in February, more than six million new cryptocurrency traders have joined the platform since the start of 2021. As a result, the volume of crypto trading on the platform spiked significantly, with 15x growth in average monthly traders. Robinhood is likely to see an exponential kind of increase in crypto traders by the end of 2021, with more coin listings. At the moment, it supports a few cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Dogecoin.

Also, the trading platform is planning to enable crypto wallet support, to allow users deposit and withdraw Bitcoin and other cryptocurrencies.