?? We Tested Robinhood's Wallet wallet
Namaste, this is the doodhwala, the only crypto newsletter that gives you the same feeling of sticking your head out of a car’s window, and letting your hair fly. ??
Here’s what we got for today:
Let that beautiful hair FLLLYYYY ??
?? We tested Robinhood’s wallet
A new crypto wallet just dropped. And this one ain’t like the other wallets out there.
This is?THE FIRST?crypto wallet that’s launched by a stock brokerage company. So, we tested it out with real money. ??
The company = Robinhood , the largest zero-commission stock brokerage in the world. They're like the Zerodha of the United States.
Quick stats on Robinhood:
Doodh fact: Robinhood has ~70% more users than ALL ???? Indian brokerages combined.
And Robinhood just dropped its crypto wallet → Wallet.
Yes, it’s called Wallet. Just Wallet.
What’s with companies launching products with boring af names?
Do they think us consumers can’t pronounce anything with more than two syllables? ??
The app is only available to iOS users who were part of the wait list.
Luckily we signed up (and wrote about it) back in?September 2022?(that’s before FTX so I still had a poster of SBF in my room???).
Here’s the first look at the app:
Currently, the app just supports:
The doodhwala was curious (like that one time we tried soy milk, never again!) so we decided to give the swap a go.
Here’s what we tested in the wallet:
1???SET UP:?Set up a brand new wallet
2???SEND TOKENS:?Sent some MATIC from Metamask
3???CONNECT:?Used the Robinhood Wallet to connect to Uniswap
4???SWAP:?Swapped some MATIC to USDC (there was no $DOODH)
5???RECEIVE TOKENS:?Sent back the USDC to the original Metamask wallet
Here’s the process:
(yes it was only $5, we broke af???)
Overall, the process was quite smooth. Onboarding and setting this up took < 2 minutes.?And it was faster than Metamask for sure.?Everything is faster than Metamask, even going to the Bangalore airport is faster than MetaMask .???
But there’s still a catch. A BIG CATCH.
Robinhood ain’t the most upstanding of companies.
Here are a few reasons why:
???Misleading customers:?Robinhood was?fined?$70 million by a US financial regulator for misleading customers who were trading financial derviatives.
???Freezing trades:?During the MEME STOCK (meme stock not meme coins lol) frenzy of 2021, Robinhood?froze trades?in GameStop and a few other companies.
??? FTX investment:?SBF aka Scam Bankrun Fraud and a few other FTX execs invested $450 million in Robinhood for 7.6% of the company. Robinhood is still tryna buy it back.
???iCloud Backup:?When we were unlocking our seedphrase, the app prompted us to back up the phrase to iCloud. Like wtf?
Doodhwala’s take:
Sure, Robinhood will bring in millions of new customers and capital into crypto.
After all, it’s the biggest zero-commission brokerage in the world. And it’s got a crypto wallet of its own. That’s a great thing!
But many of their new users will not know ???about:
Robinhood neither answers ???these questions nor prompts the user while using the app.
From a functionality perspective, it’s quite poor. ??
Security wise also, Robinhood has got more ?? than my last girlfriend. At the doodhwala, we’re divided on this:
What do you think about Robinhood’s new Wallet wallet?
???Read the doodhwala: ON THE GO!
Picture this.
You open your inbox to read the doodhwala.
But you get weird emails like:
“We deliver FASTER than you last”
“Prices LOWER than your dating standards”
“Book your SOLO trip to Paris because no one will go with you.”
(wait, am I the only one who gets these emails? ????????)
Inboxes are full of ????so why not read the doodhwala on an app that’s designed for newsletters? Not just any newsletter. Cool and exclusive newsletter. Like us (we cool right? ??)
Check out MECO ?? a Newsletter Reader.
1???Integrate your email → 2?? Read the doodhwala → 3?? Regret your decision
??
???Russia vs Ukraine: Crypto Edition
Crypto is prettay, prettay, prettay, versatile. ??
You can use it for SO MANY different things:
And so much more!
But one other thing that crypto has been used for is?WAR.
No, we are not talking about the Hritik x Tiger masterpiece of a movie. ??
We are talking about real war. With guns, tanks and national flags. ??
And we have been able to get a first-hand experience of crypto in war, due to the unfortunate conflict between Russia and Ukraine.
Crypto has been used by both countries in this war. ??
But the nature of usage has been…a lil different. ??
领英推荐
?????Russia
Apart from using crypto to buy more Vodka and nesting dolls, Russia has used crypto for funding militia groups that support:
In a?report?by Chainalysis , they saw over 100 pro-Russia organisations receiving close to?$5.4 million in donations.
But when it comes to ransomware attacks, it's a WHOLE different story. ??
In 2022 → $456.8 million was made in ransomware payments. ??
Over 50% of these bad actors were based in Russia.
In fact, one of the biggest ransomware groups is a Russian-based group called Conti. (sounds like the name of a car. Tata Conti)
They were responsible for collecting over?$66 million in ransom payments IN 2022. ??
When the conflict broke out, this group came out with full support to the Russian government.
So it’s safe to say Russia’s use of crypto in war has been pretty aggressive. ??
?????Ukraine
On the other hand, Ukraine has used crypto for mainly ONE reason:
DONATIONS!???
In March 2022 → Ukraine received over $56 million in crypto.
This was all donated to addresses provided by the Ukrainian government.
In February 2023 → overall donations reached close to $70 million. ??
There was even an auction on a?Ukraine Flag NFT?for $6.5 million?and all of it was donated to the war effort. ??
Sure, the crypto donations are much lower than what they received in fiat…
…but it's still such a positive sign. ??
It’s good to know that despite all the negative ways in which crypto can be used in war, more people are opting for the positive side!
All doodh is not lost in the world after all. ??
?? REFER AND WIN some doodhwala merch???
For the first time evaaa, we're giving away the doodhwala merch.
But it's not lame t-shirts with some random company name, but super cool stuff like:
???stickers?–?for your???, ???and ??
???notebooks?–?to write your crush's name
???mugs?–?for your doodh, and NOT your beer!!
???t-shirts?–?with totally non-controversial things (promise???)
???hoodies?–?because we wanna keep you warm in the crypto????winter
???mystery box?–?with some super cool prizes that’s worth more than 1 Bitcoin
Chegg it ??
For every confirmed referral (i.e. they confirm their email and drag it to their “Primary” tab from their “Promotions” or “Updates” tab) you’ll get some ?? merch.
All you gotta do is share the doodhwala with this link?(only available on email, not on web view)???
???Chaach and Charts: Bitcoin on a HIGH
Exchanges.
???They are those places where most people buy their first crypto.
???They are also those places that I trust less than a politician one week before the election.
I can’t believe I fell for the – “I’ll cancel all gas fees from blockchains,” campaign promise. ??
But it looks like crypto bros trust exchanges.
At least Bitcoin Inc. bros do.
The amount of Bitcoin moving from private wallets → exchange wallets is rising ??
????February 15?- 2.26 million BTC on exchanges
????March 1?- 2.27 million BTC on exchanges
That ???might not seem like a big change.
But it’s actually:
16,000 BTC = $370 million (Rs 3,100 crore) ????????
Is this just because Bitcoin went from $16.5 k → $25k in 2023, or is something else brewing? ??
???Resourcewala: How Can Creators Leverage NFTs???
NFTs have been the talk of the town in the past few weeks of this never-ending bear market. ??
From Bitcoin NFTs to NFT marketplace wars.
All of it seems so fun and doodhy. ??
But if you are a content creator, what can you do apart from just talking about this?
You can sell doodh like us. ?? ♂?
Or you can actually learn how to truly leverage these NFTs to your benefit.
And no, we are not talking about buying and flipping NFTs. (We can’t even flip dosas right???)
Learn how NFTs can help with ??
???Crypto Doodhshots: Web3 Infra FTW
?? Milky Meme Of The Day
?? Step Up Your Content Game
"Content" is the name of the game right now.
Every individual, company, and organization is creating content to:
This is what we, at the ?? doodhwala, excel at!
So, let us help ???YOU ?? take your content to the NEXT LEVEL. ??
If you want the doodhwala bois to help your company's content game (from newsletters to TikToks) fill?this form?and we'll reach out in 24 hours! ??
Subscribe here: https://www.doodhwala.xyz/subscribe