<p>Online brokerage Robinhood saw 9.5 million customers trade crypto on its platform during the first quarter of 2021.</p> <p>That <a href="https://robinhood.engineering/how-crypto-fits-into-robinhoods-mission-d93c9081a598">figure</a> is a whopping nearly 460% more than Robinhood's Q4 2020 number of 1.7 million.</p> <p>"A lot of customers [are] using us for crypto," <a href="https://www.youtube.com/watch?v=JJJ31hnPZcs">said</a> Robinhood CEO Vlad Tenev in a video released Thursday. "They come to us for basically our competitive pricing and the user experience."</p> <p>Tenev further said that Robinhood is "by far the easiest place" to buy crypto, and it offers "incredibly competitive pricing."</p> <p>"The goal is to give you the most for your money," he said.</p> <p>The 2021 year has been big for crypto trading platforms, thanks to the current bull market. Earlier this week, Coinbase <a href="https://www.theblockcrypto.com/post/100680/coinbase-q1-results-april-direct-listing">reported</a> a total of 6.1 million monthly transacting users (MTUs) on its platform for the first quarter of the year.</p> <p>While Robinhood's user numbers seem higher than Coinbase's, the two companies use different metrics. "We disclose MTUs, Robinhood discloses QTUs [quarterly transacting users]," a Coinbase spokesperson told The Block.</p> <p>Coinbase <a href="https://www.sec.gov/Archives/edgar/data/1679788/000162828021003168/coinbaseglobalincs-1.htm">defines</a> an MTU as "a retail user who actively or passively transacts in one or more products on our platform at least once during the rolling 28-day period ending on the date of measurement."</p> <p>The spokesperson further told The Block that comparing the two metrics "is an inaccurate comparison of the two businesses."</p> <hr /> <p><em>Correction: This article has been clarified to reflect that Robinhood and Coinbase do not disclose directly comparable numbers for active traders.</em></p>