Can the cryptocurrency market grow by becoming more approachable? That’s the question entrepreneur Ox Bid asked when developing her new project. Realizing the popularity of memecoins among laypeople who are otherwise unfamiliar with cryptocurrencies, she set out to create a product that appealed to newer investors.
The result was the crypto trading app Bolide, a platform that seeks to democratize access to onchain trading. Launched just over a month ago, Bolide stands out for its user-friendly interface and a focus on the alternative memecoin market — which is perfect for people looking to invest in fun projects with no prior crypto knowledge.
This article looks into how the recently launched Bolide app is helping expand the crypto world by appealing to wider markets.
Ox Bid: An Early Crypto Enthusiast
Prior to funding Bolide, Ox Bid was already knee-deep in the world of crypto, having invested in Bitcoin back in 2012. Impressed by its decentralized nature, she delved deeper into the technology and developed multiple successful startups, including a trading bot for the blockchain-based social media app Friend.tech and a decentralized yield aggregator that reached up to $14 million in TVL.
These endeavors taught her and her team how to develop smart contracts and cross-chain bridging strategies, but they also taught her how to profile and cater to different customer profiles. Looking to develop a product tailored to onchain investing, she reached out to crypto traders and experts for deeper insights into the market’s difficulties in expanding. This research allowed her to pivot her next project toward solving those issues.
In parallel with her current role as CEO of Bolide, Ox has become an established voice in the crypto space, speaking at events like Zebu Live and Token2049. She also regularly organizes meet-ups to educate newcomers and potential investors about the possibilities of the market.
A User-Focused Approach to the Memecoin Market
Under Ox’s leadership, Bolide seeks to address one of the main problems of the crypto industry: inaccessible investing platforms. Even though apps like Coinbase and Kraken have somewhat filled this void, they fail to incentivize long-term investments among non-crypto enthusiasts. Bolide aims to meet that need.
But what sets Bolide apart from other trading apps is its focus on the growing memecoin trend. In recent years, meme-based investing has come to appeal to retail investors for its highly speculative nature with the potential for significant gains. Just last March, the memecoin market cap increased by over 17% in 24 hours, and prominent currencies like Dogecoin and Pepe consistently rank high in the top 100 tokens by market capitalization to this day.
By leaning into this market, Bolide lets users dabble in trendy memecoins at affordable exchange rates and low gas fees. Aided by a simple and intuitive interface, users can top up their Bolide wallet through offchain bank transfers or onchain deposits of stablecoins like USDC. Once their wallet is funded, users can quickly set up their portfolio and benefit from exclusive features, including regular crypto airdrops.
Bolide also hopes to help users make well-informed investment decisions by gathering essential info about each memecoin. This data includes each coin’s top traders and holders, shilling levels, security measures, performance metrics, and any relevant offchain links. With easy access to such valuable information, users can make secure investments with complete transparency.
Turning Bolide into the Robinhood of Crypto Investing
A month after its App Store launch, user response to Bolide has been highly positive. The platform has already reached a trading volume of over $157,000, with an average of 13 trades per user and an average trade value of $30. By appealing to a less tech-oriented market and making trading tools more accessible, Bolide seeks to become the default mainstream crypto app — similar to Robinhood.
Looking forward, the Bolide development team is currently working on incorporating social components to turn the app into a SocialFi product. This would include features like a feed of onchain activities from friends and followers. The final goal is for people to engage with the crypto world in the same way they do with social media, building communities of market enthusiasts with similar interests and discovering new investment opportunities.
Changing public perception of the crypto world is a driving element in Ox Bid’s and Bolide’s missions. By bridging the gap between experts and regular folk and making unique investment opportunities available, Bolide shows how crypto can be not just profitable but fun and interactive, and it seeks to make this rising market accessible and rewarding to all.
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