Crypto has spent years trying to get normal people onchain

If you’ve been here for long enough, think about how ridiculous the process of entering crypto used to be:

You had to find an exchange, buy ETH or BTC, install a wallet you had probably never heard of, write twelve words on a piece of paper because apparently your entire financial life now depended on them, understand gas, figure out which network you were using, bridge your money and then pray that the website you had just connected your wallet to wasn’t going to drain everything.

We normalized all of this because we were the idiots willing to do it. Now every cycle has basically removed another part of that friction. But even after solving most of those problems, crypto still needs to convince people to come.

This is where I find Robinhood different.

Robinhood already has 28.5 million funded customers and $355 billion in platform assets, which means it isn’t starting with an empty blockchain and then wondering how to attract millions of people. That changes the equation completely, and they don’t need some absurd conversion rate for this to matter.

Just 1% of 28.5 million funded customers would represent 285,000 people, and if that group eventually deployed an average of $1,000 into onchain products you’re already talking about $285M