Crypto trading is the least notable reason why they are valued so high. Real reasons:
1) Large number of users
2) Large number of younger users (Millennials love Robinhood)
3) High amount of use per user (due to no fees)
They are still a growth company. If they add IRAs (they said they would soon), Website (currently in closed beta), Options (currently in closed beta), and OTC (not sure if they will), then they'll likely be the top broker for individuals.
1) Large number of users
2) Large number of younger users (Millennials love Robinhood)
3) High amount of use per user (due to no fees)
They are still a growth company. If they add IRAs (they said they would soon), Website (currently in closed beta), Options (currently in closed beta), and OTC (not sure if they will), then they'll likely be the top broker for individuals.