The Good Tech Companies - Is This the Robinhood Moment for Memecoins? Discovering the Bolide App

Episode Date: June 12, 2024

This story was originally published on HackerNoon at: https://hackernoon.com/is-this-the-robinhood-moment-for-memecoins-discovering-the-bolide-app. Bolide simplifies memecoin trading with a user-friendly, commission-free app, making crypto investments accessible and fun, just like Robinhood did for stocks. Check more stories related to web3 at: https://hackernoon.com/c/web3. You can also check exclusive content about #cryptocurrency, #crypto-trading, #memecoins, #bolide, #crypto-platforms, #robinhood-for-crypto, #trading-apps, #good-company, and more. This story was written by: @jonstojanmedia. Learn more about this writer by checking @jonstojanmedia's about page, and for more stories, please visit hackernoon.com. Bolide is a mobile app that makes it easy and affordable for beginners to start trading memecoins. It uses Account Abstraction technology to allow gasless transactions and embedded wallets. In doing so, it gives users access for logins, secure account and lets them store their investments safely.

This audio is presented by Hacker Noon, where anyone can learn anything about any technology. Is this the Robinhood moment for memecoins? Discovering the Belied app, by John Stoyan Media, Robinhood has made waves in the casual investment community for being a commission-free, mobile-friendly app that's made trading accessible to everyone, not just the wealthy or experienced traders. It's only natural, then, that a similar solution be made available for would-be crypto investors, and it's vital that this solution is made specifically forth casual investor. After all, even with more people trading in decentralized digital currencies than ever

before, the majority of Americans still don't have a strong grasp of crypto concepts. This can prevent new and inexperienced traders from integrating cryptocurrency into their everyday transactions and investments, and it risks concentrating knowledge and trading power in the hands of a few individuals or groups. And sure, there are solutions like Coinbase and Kraken available, but these platforms are still bogged down by unnecessary features and confusing terminologies. This is where Belide comes in. This easy-to-use mobile trading app aims to simplify crypto investments, specifically memecoins, for everyone, even those without any prior crypto experience. Learn more about the common barriers of crypto investing,

how Belide is breaking these down, and how Belide CEO Oxbid is giving memecoins their Robinhood moment, pushing to make social, on-chain memecoin trading easy and fun for everyone. Memecoin trading. Navigating the wild west of crypto, memecoin trading is the buying and selling of digital currencies that are often inspired by internet jokes or cultural memes. However, unlike more established cryptocurrencies like Bitcoin or Ethereum, memecoins are highly volatile and lack additional built-in uses, making them a risky investment. The value of meme coins typically stems from viral marketing campaigns, speculation, and hype. While this adds to the risky charm of meme coins, it also makes it challenging for newcomers to distinguish between legitimate investments and

fleeting trends. Additionally, the market's lack of regulation makes it rip before scams, where promoters might inflate a memecoin's value and sell off their holdings at a peak, leaving others with devalued assets. The cryptocurrency market itself is also volatile. For instance, during the crypto winter of 2022, the market saw a major downturn, resulting in a $2 trillion loss in market value and impacting many investors. Such slumps can be triggered by withdrawing from large investors, significant frauds or security breaches, or tighter government regulations. Finally, navigating crypto trading platforms also requires a high level of digital and financial literacy.

In order to maintain their investment and stay safe, beginners need to invest time into learning which risks avoiding and deciphering which coins are worth investing in, all while managing complex trading interfaces. Due to these barriers, a lot of investors forego crypto trading altogether. Belide. Memecoin trading for the masses. Belide is a mobile app that makes it easy and affordable for beginners to start trading memecoins. It uses Pimlico's account abstraction technology to allow gasless transactions and embedded wallets from Privy for social logins. In doing so, it gives users affordable transactions, secure account access, and lets them store their customer keys safely. This way, users can manage their investments with ease and confidence,

knowing their data and digital assets are well protected. And thanks to a simplistic user interface, users can navigate Belide as easily as they would a standard bank account. Even if they've never used the on-chain market before, as an early investor and trader in crypto, says OxBid, CEO and co-founder of Belide, my dream has always been to provide access and teach people how to navigate this space. The crypto market is undoubtedly risky, but it can be less so if customers have access to straightforward tools, as complexity often leads to mistakes and barriers.

Belide is now available on the App Store, and its initial traction is notable. Though we've been on the market for only a few weeks, Ox says, our trading volume has nearly reached $157,000, with an average of 13 trades per user and an average trade value of $30. Clearly, Ox's strategy of appealing to a lay audience of retail investors is paying off. Belied social finance future. According to OxBid, it's time for memecoins to have their Robinhood moment. Tothis End, she believes that the secret to making memecoin trading accessible to everyone is to take Robinhood's affordable, user-friendly approach, apply it to crypto, and add a social twist. She notes that modern consumers are deeply

influenced by social media in everything they do, from choosing where to eat to deciding where to live, and she sees this trend as vital to the future of retail crypto trading. People often make decisions based on recommendations from influencers or friends, Ox explains. My goal is to create a similar influence-driven recommendation system, where users can see which tokens to buy based on the on-chain actions of top influencers, friends, and traders. In doing so, Ox hopes to return to what made memecoins great in the first place, fun and levity. I aim to make the crypto market not only accessible to the masses but also exciting and social, she says. Trade memecoins with confidence using Belide. Newcomers should

be able to confidently trade crypto without having to sift through pages of research. They should feel at ease knowing that their investments are protected and that they have access to the tools and support required to make informed decisions. This is where Belide shines. By blending the user-friendliness of Robinhood and the engagement of popular social platforms, Belide gives users the freedom to navigate crypto trading in a fun and informative way. To learn how Belide is making the most out of its Robinhood moment, check out the app for yourself. You can also follow OxBid on her Farcaster at at Oxby and on X at at OxBid. Thank you for listening to this HackerNoon story, read by Artificial Intelligence. Visit HackerNoon.com to read, write, learn and publish.