⚡ Zash Community Update 19: Bitclout, Vitalik Buterin, Hot vs Cold wallets, Crowdmining, Creator Platforms & More...
Building the future of retail investing
Here’s a quick update for you on latest happenings, developments, and more. This week is jammed packed!
Why? Community is at the heart of our product. We want you to be part of the crucial steps of our product development. You can read all of our previous Community Updates here.
Creator of the Week 🧠
What do you generally like to invest in?
At the moment, stocks that are easy to manage and low-effort. I’ve an ESG stocks and shares ISA with Nutmeg - super easy to set up a direct debit & pay myself first each month. I’ve a personal goal to set more time aside to actively invest - using Finimize and Zash to upskill and stay on top of trends, then will set aside time each week to really invest. I also mine some crypto with Pi and Bee on my phone each day, easy and quite fun.
How would you describe your investing style?
Mixed - I’ve my low-risk, consistent stocks and share ISA. Then I would like to build up to having a more diversified mix with some higher risk ones in there (e.g. some crypto and higher-growth investments). Needs time and effort so have to balance with other priorities!
What industry/company’s future are you excited by and why?
Sextech! So much untapped potential in tech to solve pain points in an area that’s normally hush hush, but has some big problems to solve for billions of people. 51% of women report challenges around sex & intimacy, and 41% of men. It’s a huge market with so much potential. Love what we’re doing at Ferly, as well as what the guys at Mojo Men are doing.
What do you love about the Zash Community?
Openness to share financial know-how - it’s so cool to have a space to do this and see what others are up to. Learn some tips and tricks that ultimately give more people the confidence to invest.
We are grateful to have featured Rosie this week, who previously shared the crowdmining app Pi with our community. One of the most interesting aspects of Pi, is how they have baked in virality into every aspect of their product.
Here’s a great snippet summarising some of the crypto-battles at play.
"The fact that money has evolved has made it more complicated. That lives can be ruined, by the choices of technologies that are taken on. It makes it more real, more painful, more elevated, the impact of this".
"Imagine like Mac vs PC wars, if everyone who bought a Macbook had 10 apple shares inside of it, and everyone who had a PC had 10 Microsoft shares inside of it, and then you had the elites who bought their mac's back in 1983, who spent $500 then and have $40m, and think they are some guru's who understand geopolitics and the future of finance, and they make theories about why Apple is the one who will break freedom to the world and Windows is secretly aligned with the axis of evils...."
However, do be warned, while the conversation is good Lex Fridman’s podcasts are long…
Ephemeral Event Polls 👀
Keep an eye out on our Slack for some upcoming experiments!
A behaviour that we have seen exciting engagement with in our community is #should-i, where a member of the community can post a finance question and ask others, whether this be a prediction around a price movement, major event or more.
We will be running a set of experiments this week to see how the community responds. We will make these questions ephemeral, to encourage safety around sharing great ideas, with no question deemed as irrelevant.
This is being used to guide the design of one of our upcoming features in our community.
Some of you would have caught the crazy phenomenon of Bitclout. The bizarre platform where Twitter profiles were being scraped, and people could then trade them freely. If the creator of the profile goes on and claims it...then they get a cut of the trades. To date many profiles remain unclaimed, but that is sure to change with these latest announcements.
Some profiles haven’t quite taken off yet, Cristiano Ronaldo ($4,860) has less clout than Elon Musk ($54,748) for instance. (which could indicate some mis-pricing). Yet, the Portuguese superstar has 92.2 million followers on Twitter to Musks 57.1 million. With BitClout announcing their first crypto exchange listing, these short lived variations in price might not be around for so long!
Check out this from the New Yorker for more on BitClout and its early adopters.
Stanford Women In Design
Having worked with us for an amazing few months, the Stanford Womxn in Design (SWID) Consulting programme comes to a close.
SWID is the largest organization focused on empowering future design leaders at Stanford, specifically dedicated to equipping woman in the community with the tangible skills needed to navigate design industries and beyond.
We were incredibly lucky to work together on the design and build of our product over the last few months! We wish Sophie, Emily, and Nadia - an amazing talented team of designers - the very best of luck in the future!
Zash Learn 📖
This week on Zash Learn we’re covering cryptocurrency, specifically how cryptocurrencies are bought and held!
Picking a Wallet
Unlike traditional wallets, it’s not considered bad luck to buy your own cryptocurrency wallet. And whats more most wallets are easy to set up on all popular exchanges. So, before you buy your first cryptocurrency you need to decide on which wallet you’re going to use.
The choice you make can limit or improve your access to different coins. Some starter wallets only focus on very few assets, which can be ideal for some holders but not for those looking to diversify their portfolio. Therefore the best cryptocurrency wallet depends entirely on your trading wants and needs.
Hot versus Cold
There are a myriad of ways to store your cryptocurrencies, with hot and cold storage referring to two different types of wallets. Cold wallets refer to devices that are encrypted with special security codes for added protection for your crypto, while hot wallets are digital and available on the internet, your laptop etc.
If you’re only beginning your journey with cryptocurrencies it may be better, and more straightforward, to stick to hot wallets for now. As these are usually free, easy to use and available within a few simple steps.
Choosing the right Exchange
Once you’ve decided which type of wallet to use you’ll need to pick an exchange to buy and sell cryptocurrencies on. Remember, if you’ve chosen a hot wallet your wallet key will often be held on your chosen exchanges server. So the security and integrity of that exchange is paramount.
The next thing you’ll have to consider is the fee structure. Each exchange has a different fee structures, some offer commission free trading and others charge on withdrawals and deposits in your account. Here’s a great guide comparing the different fees on all popular crypto exchanges.
Thankfully due to the growing popularity of cryptocurrencies some exchanges are now publicly traded, like Coinbase, or planning to be before too long - Robinhood and Kraken. This gives an added layer of legitimacy to the exchange and peace of mind to traders.
Hopefully, you’ve learned what you need to and know you’re read to dabble in the world of crypto trading, but as always - trade safe!
As always, if there’s anything you’d like us to cover please let us know by filling out this form!
Reading of the Week 💡
Given the explosion of creator led platforms in the last 12 months, we though this was a helpful overview of the budding eco-system. Zash's ambition is to create a new category here.
It was announced last week that Bitcoin would get its first upgrade in over 4 years this November in a rare moment of consensus among stakeholders.
Jeff Bezos rocket company auctioned off a space on their maiden voyage on July 20th for $28 million 🚀
Keep missing out on Meme Stocks? Check out this piece here so you don’t miss out in future!
As Central Banks plan to launch their own digital currencies to challenge the growing prominence of digital assets, privacy fears rise.
That’s all for now and we’ll see you next week,