Christine Brown, Robinhood Crypto’s first COO from April 2021 till March 2022, has not too long ago prompt that the meme-inspired cryptocurrency Dogecoin ($DOGE) “doesn’t get the credit score it deserves” for serving to additional cryptocurrency adoption.
Throughout a dialog with Decrypt on the platform’s gm podcast, Brown famous that Dogecoin “had a second final yr on Robinhood’s platform” and that lots of people believed the platform supporting DOGE was a “unhealthy factor for crypto general” because it’s a meme coin.
As CryptoGlobe reported final yr, search interest for DOGE exploded ahead of the cryptocurrency’s 10,000% rally that noticed it hit a brand new all-time excessive close to $0.75. The cryptocurrency has since misplaced most of its worth, and is now buying and selling at $0.056. To Brown, DOGE deserves extra credit score than what it has acquired , because it helped onboard new customers into the cryptocurrency area. She mentioned:
[Dogecoin] in loads of methods doesn’t get the credit score it deserves for serving to onboard folks into the area.
Brown, who’s now the COO of non-fungible token (NFT) startup Ground, famous that there are three principal entry obstacles to the cryptocurrency area: economics, schooling, and emotion. Shopping for crypto requires cash and there are dangers related, whereas schooling stays a major problem, particularly relating to self-custody.
To the previous Robinhood govt, schooling will seemingly partly be dealt with with the event of recent merchandise within the area, which is able to make issues simpler for customers. The emotional barrier, she mentioned, is the “large one” of the three, as traders are held again by their understanding of the area.
Dogecoin, Brown mentioned, added layers of enjoyable and accessibility that eased patrons’ issues. She mentioned:
Dogecoin, on the time, made it very easy for folks to be like, ‘Yeah, that is for me. It’s a coin with a canine on it, and I can begin with $1, and I can simply strive it out and see what occurs and dip my toe in and go from there.’
As reported, Dogecoin co-creator Billy Markus has not too long ago prompt that the “easiest and greatest use case” for the cryptocurrency, in his opinion, is tipping, which means “spreading happiness over the internet.”
Early Bitcoin ($BTC) adopter and promoter Roger Ver, who for his work to assist the early cryptocurrency group develop was on the time nicknamed “Bitcoin Jesus,” has not too long ago defended the meme-inspired cryptocurrency is “significantly better” than BTC itself.
Ver, who can also be the founding father of Bitcoin.com, mentioned in an interview he’s a fan of the meme-inspired cryptocurrency due to its quick transaction instances and low charges.
Featured picture through Unsplash