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You can just send a transaction from your exchange. Like, let's say I want to send you $0.10 right now. I would just go into Robinhood and send 0.1 USDC to you

by pants2 3y ago

You can just send a transaction from your exchange. Like, let's say I want to send you $0.10 right now. I would just go into Robinhood and send 0.1 USDC to you on Polygon or Solana, that would arrive in your wallet instantly from a Robinhood-owned address, you would have no idea who I am or my previous transaction history. Robinhood also owns the private keys and account recovery process here - it's just using blockchain as the payment rail. Go ahead and post your address and I'll send you $0.10.

johannes1234321 3y ago
Okay, so the solution is to use a bank, not Blockchain money.
- pants2 3y ago
  But you can't send $0.01 instantly and anonymously with bank rails. The solution is to use a crypto exchange on crypto rails - just not a regular crypto wallet (you could, but perhaps not very user friendly)
  - _heimdall 3y ago
    Isn't that just turning the exchanges into unregulated banks?
    - pants2 3y ago
      Many exchanges are regulated, but maybe not as banks. But yes you're trusting that exchange with your money. If used for web-micropayments it shouldn't be much of an issue though.