How Many People Use Robinhood

How Many People Use Robinhood in 2024? (Usage Stats)

Published on: April 6, 2023
Last Updated: April 6, 2023

How Many People Use Robinhood in 2024? (Usage Stats)

Published on: April 6, 2023
Last Updated: April 6, 2023

Quick Answer 🔍

How many people use Robinhood in 2024?

Robinhood has 31 million verified users.

So, you want to know how many people use Robinhood in 2024?

Well, Robinhood is an American financial services company.

It is an online discount brokerage where you can invest and trade on a commission-free basis.

The company offers a plethora of unique features that gives them an edge over the competitors.

You can create an account and start investing with minimum money. Robinhood stands out from its counterparts by offering the opportunity to trade cryptocurrencies on the platform.

You can buy fractional shares, execute a free ATM withdrawal, and take the advantage of automatic dividend reinvestment, recurring payments, and the ability to trade on margin at low costs.

Robinhood is driven by the goal of decentralizing finance for all and has become one of the most famous platforms to trade stocks and cryptocurrencies in the world.

While it is an absolute beast, still there are questions people often ask about Robinhood.

In this article, we’ll know how many people use Robinhood in 2024 and discuss some interesting stats about the company.

Key Robinhood Statistics 2024

  • Robinhood has 31 million verified users.
  • Dogecoin is the most traded cryptocurrency in Robinhood.
  • Robinhood generated $1.82 billion in revenue by the end of 2021.
  • The average Robinhood user is 31 years old.
  • Robinhood lost $502 million in 2021.
  • Robinhood has a valuation of $20 billion as of 2021.

How Many People Use Robinhood in 2024?

Robinhood has had a great run in the market. The number of users on Robinhood increased from 13 million in 2020 to 31 million in 2021.

This means the number of users doubled throughout the last year. Unique products offered by the company are the prime reason for the rise. 

Robinhood added over 6 million new users/customers on its crypto platform in the first two months of 2021 and over 60,000 accounts got funded in the Q3 of 2021. 

As the company keeps on improving and adding new features and products, the number of active users will keep on increasing.

Robinhood Profit

Well, now that we have answered the question: How many people use Robinhood?, let’s move to explore some key statistics on Robinhood’s profits. 

The company reported a loss of $502 million in 2021.
Why did this happen?

According to the company, the loss resulted from the warrants related to an emergency funding. The

Game Stop controversy cost them $3.5 billion in loss.

Despite the losses incurred by the financial giant, the company has generated significant profits. Robinhood doubled its revenue in the last year and $7 million in 2020.

Robinhood’s Revenue

Robinhood generated over $1.82 billion in revenue in 2021.

This figure directly resulted from the interest on stocks, income from uninvested cash and cash management systems, sales of Gold Software and trading revenues.

Over the recent years, Robinhood has tasted brilliant success in generating massive revenue.

In 2019, the company generated $278 million in revenue, which tripled in 2020, to a figure of $959 million.

The second quarter of 2021 showed a 2x increase in cryptocurrency revenue compared to the revenue generated in the Q2 of 2020, while transaction-based revenue more than doubled in the period.

All these sources together generated a massive revenue of $1.82 billion in 2021.

Robinhood Valuation


What is Robinhood’s valuation?

The piece of Robinhood shares have followed an up-n-down pattern over the years. 

It started with $34 a share and by the third quarter of 2021; it was $41 a share. Robinhood’s valuation soared in 2021. Stats show the valuation gained 2000% traction since 2017. 

When people were trading shares a little over $31 a share, the company had a valuation of 29 billion but the valuation touched $35 billion in 2021.

But the debt incurred in the same year brought the valuation to $20 billion.

Average Transaction Size

What is the average transaction size in Robinhood?

Since the launch of the application in 29015, people have used it to invest in unique assets.

The crypto-based assets boomed in the year 2021 and the company has over $100 billion in assets under management.

Majority of the revenue comes from cryptocurrencies.

Robinhood has Litecoin, Dogecoin, Ethereum Classic and Ethereum listed on the platform.

Transactions from these assets make up 1/5th of the total managed assets, equities, and traditional stocks.

Robinhood’s Assets Under Management and Market Share

What does assets under management mean?

This means the total market value of all investments of a company. Robinhood’s assets under management have a value of $80 billion.

The company has 7 digital currencies, 5000 unique stocks, ETfs and 650 purchase options.

Crypto-related revenue is a prime source of revenue for Robinhood.

In the quarter 2 of 2021, the company generated over $233 million, thanks to the crypto-assets of the company, which had a value of $22.7 billion. Dogecoin was the most traded cryptocurrency in the Q2 of 2021.

According to a report by Robinhood, over 60% of its crypto-transactions involved Dogecoin.

The dependency on Dogecoin’s performance plays a massive factor in generating revenue. As a decline in dogecoin’s economy might lead to loss in income of the company.

In 2020, Robinhood had crypto-assets worth $3.5 billion, which increased to $22.7 billion in 2021. Stats show that revenue from crypto-based transactions resulted in 40x more than the initial value.

Robinhood Demographics

The average age of Robinhood users is 31 years. According to a report, there are more male users on the platform than female and an average account has $240.

Now, the platform focuses mostly on the Gen Z, who are new to the world of investing. Hence, the largest age group is in their late 20s.


Thanks to the craze of investing in cryptocurrencies, Robinhood’s revenue from crypto-based transactions is soaring.

As Robinhood keeps adding to its features/Products list the number of users will keep increasing.

Now, you know how many people use Robinhood in 2024.


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Written by Jason Wise

Hello! I’m the editor at EarthWeb, with a particular interest in business and technology topics, including social media, privacy, and cryptocurrency. As an experienced editor and researcher, I have a passion for exploring the latest trends and innovations in these fields and sharing my insights with our readers. I also enjoy testing and reviewing products, and you’ll often find my reviews and recommendations on EarthWeb. With a focus on providing informative and engaging content, I am committed to ensuring that EarthWeb remains a leading source of news and analysis in the tech industry.