Today I received a push notification from Robinhood and while this is a typical thing throughout the day for me this one was different and easily got my attention. It informed me that...
Now, this is not the first time that Robinhood has done this and I am starting to think that it will be a bigger part of their strategy moving forward. Last year one of the company heads even highlighted that they were aiming to become a crypto-first app, especially in markets outside of the United States going forward. When you add in the Robinhood Wallet app that I am a Beta tester for the company really seems to be moving in this crypto-centric direction.
The first crypto that they did a Learn and Earn with was Avalanche or AVAV which I have to be honest I did not know much about besides it flew in price last year and just like Solana albeit for different reasons crashed just the same. Avalanches Learn and Earn was done in the middle of December and even though it is not the longest gap between this type of user engagement I have seen it was long enough for me to wonder if it was a one-off thing and that Robinhood did not like the results. For me what was great about it was that this was before the Amazon announcement so I was able to take the $1 I earned in AVAV and turn it into a $1.50 and free money is money!
As is the common move or way that these types of things work you read a little bit about the crypto answer some questions and bam you get your reward which in this case was $1 in USDC. With crypto prices also retreating right now there is an opportunity to really stretch this dollar in a few more dollars an idea that I love! Robinhoods partnership with Circle, the issuer of USDC, dates back to September of last year when it was added to the Robinhood app and with Robinhood catered to younger investors who are much more likely to be engaged in crypto trading building upon this partnership only makes sense for both parties.
Once I earned my $1 USDC I was able to do something that is not available to the public yet and transfer that $1 to my Robinhood Wallet. Currently, the Robinhood Wallet is mostly built upon Polygon but they have over the last few updates begun to lay the groundwork for Ethereum assets and DApp connections to work as well. Robinhood's wallet has come a long way since it first came out but it still has a way to go before I think they will release it. Trading pairs are rather limited especially when you compare them to other exchanges like Coinbase and Binance but they have been continuing to roll more and more out.
I know that a lot of investors and others still have a sour taste in their mouths from what happened with Robinhood during the Meme Stock craze but it should be pointed out that the only brokerages that made it out without any sort of issues were those that were a heck of a lot bigger as in they were legacies that had already established their dominance in the market by charging people for years for every trade that they executed. Robinhood has greatly improved its performance and really is in a class alone when it comes to offering US stocks and crypto on the same app and being able to use your funds for both seamlessly. Is it perfect? No of course not and people are quick to hit at it for offering only 18 different cryptos however the 18 offered span multiple blockchains, are easily transferred out of Robinhood with the only fee being the gas fee and include a good mix of Meme tokens like Doge to DeFi blue chips like Compound and even DEXs like Uniswap.
There just is not another brokerage that is offering this right now out there and not one that is building out a Crypto Wallet like Robinhood and even offering free crypto with Learn and Earn programs. Do they push the envelope and sometimes go too far? Yep but this is a technology company on the cutting edge and so taking these gambles is part of the reason they are successful. If you are not already a Robinhood user or just want to make an account to earn some free stock and participate in the Learn and Earn program use my referral link here. Using a referral link is the only way to get the free stock for signing up and linking your bank account to your Robinhood account and I would greatly appreciate it if you would choose to use mine! Free money is free money and I think we can all say proudly that in the economic situation, we are in now getting a minimum of $5 to invest in a stock of your choice is a pretty huge score! Again here is my link if you would like to sign up and earn a minimum of $5 to invest in a stock of your choice!
Please know I am not a financial advisor and make sure you do your own research! If you enjoyed this article and would like to support me further below are a few referral links that if you used when signing up I would appreciate it! Also, follow me on Twitter @Cje95_
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