🧱 Making HARD decisions

Namaskara, this is the doodhwala. We're the IPL of crypto newsletters. We got Bollywood, gambling, great commentary, and A LOT of cheering…for you! 🔥

Let’s go GET that doodh! 🥛

Here’s the scoop for today:

• 🧱 The Biggest trend in 2023

• 🇮🇳 Don’t throw in the towel, India!

• 📈 Gotta Stay Alive To Earn

• ⚒ Building your CAREER in CRYPTO

Nothing stopping us!

🧱 Biggest trend in 2023? Easy.

People often ask us — “What do you think the biggest trend will in 2023?” 👀

Easy — milk that does not expire. It’s a trillion-dollar industry!!

Oh! Did you mean in crypto?

We don’t really know, we’re just doodhwalas. 🤷‍♂️

But one thing that we’re looking at 👀 is — hardware wallets.

TF are hardware wallets?

Aka, they’re the best kinda wallets if you:

• wanna stay safe

• wanna just hodl and not trade

• wanna make some “that’s what she said jokes”

Hardware wallets are the SAFEST storage solution, after hiding your Bitcoin in your 10th standard physics textbooks (because who tf will check that?!)

And how do we know that Hardware Wallets will be YUGE in 2023?

Well just follow the money 💰

In the past 3 weeks, 3 storage solution providers raised BIG money from VCs.

Let’s look at the raises:

1️⃣ Foundation

Wallet maker Foundation raised $7 million for its Bitcoin hardware wallet — Passport, which honestly looks like the old Nokia 3310.

Unlike most USB wallets, this one uses QR codes to communicate and even has a color display.

Let’s hope it has the 🐍 game too 🙏

2️⃣ Cypherock

Even homegrown companies are getting in on the act. 🇮🇳 💪 🇮🇳

Cypherock a hardware startup raised $1 million in a seed round to develop its hardware wallet which uses NFC cards + PIN numbers to secure the crypto + sign transactions.

NFC = Nayalak Fighting ChampionshipNFC = Near Field Communication

Pretty neat stuff ngl 👏

3️⃣ MSafe

Multi-sigs or multi-signature wallets are like the new trendy Instagram dance.

Everyone is doing it!!

With the 🚀 growth of Gnosis Safe, other blockchains are launching their own multi-sig wallets. And they’re getting massive funding!!

One such example is MSafe from Aptos, the blockchain created by Mo Shaikh, the dude with some MAD hair genetics.

MSafe raised $5 million and here’s the interesting part —

They wanna get enterprises in the first layer (not retail broke bois like me 😭) and then get those enterprises to get retail customers in the second layer!

Pretty cool if it actually evolves into an app-like interface with cross-chain bridging with other blockchains.

Doodhwala’s take:

We like our wallets like we like our…tacos. HARD.(what did you think we were gonna say?!? 🤨)

So, yeah hardware wallets will be a big thing in 2022. But it’s gotta have a balance between interoperability (with DApps and blockchains) and security.

Can hardware wallets have such a balance? 👀

🇮🇳 India shot itself in the foot

We all love India, right? (the answer better not be a no. MODI IS WATCHING!)

Ofc, we do. 😅

And we really wanna see it succeed when it comes to any sorta global competition.

Cricket matches (screw you 🇵🇰)Population (screw you 🇨🇳)Even the crypto markets. (screw you 🌎)

But when it comes to crypto exchanges, Indian exchanges are losing out to global ones.

A recent report by a think tank called Esya (they are an organization that gets paid to think, yup!) said in 2022 Indian exchanges lost $3.8 billion in trading volume to foreign exchanges.

$3.8 BILLION 🤯

✅ In 2021 foreign exchanges held around 50% of the volumes in India.🚫 But in 2022, it went close to 70%!

Why did this happen? 🤔

1️⃣ Crypto Policies in India

India’s crypto policy is more strict than Shahrukh Khan as a hockey coach in Chak De India. 😬

The two policy decisions that hurt the exchanges:

• 30% tax on gains from trading. No provisions to write off losses.

• 1% tax deduction at source (TDS).

Due to this, most Indians preferred using foreign exchanges like KuCoin, Binance, and GateIO with no KYC option for limited trading. 🤷‍♂️

2️⃣ Global Crypto Market Collapse

The fall of a HUGE + Trusted centralized exchange like FTX caused Indians to question exchanges like they question doodh with yellow malai forming on the top. 🤨

Trust in centralized exchanges dropped to an all-time-LOW. 😓

Indian exchanges like:

👉 Coinswitch 👉 CoinDCX👉 WazirX

Lost ~97% of their volume in October 2022! 🤯

So, the government of India should take a LONG look in the mirror like that scene from Rocky.

Doodhwala’s take:

We need to take inspiration from countries like Singapore where tax on capital gains from crypto is non-existent. 💰

We need to adopt a more incentive-driven strategy for users to give our homegrown exchanges a fighting chance. 🥊

Cuz we really really really wanna WIN! 🏆

And we really really need to get this DOODH! 🥛

🎮 Gameswala: Crypto Trivia for your SOL

Time for some fun crypto trivia. 🔥

We’ll give you a name of a popular token, and you have to guess the name of the project.

Simple. Lezzz go! 🚀

1. XRP

2. ADA

3. XTZ

4. ATOM

5. DOODH

Answers at the end of the email. 👇

⚒ Resourcewala: Building your CAREER in CRYPTO

Having a career can be fun.

But having a crypto career can be…SUPER FUN! 🙌

(We know cuz we made a career out of delivering taaza doodh to crypto bros)

Where else can you go around high-five-ing your boss while yelling “Letsss F*****g GOOO!!!” 🔥

But what if you don’t have one yet? 🤔

Don't worry. The doodhwala bros got your back. 😉

Here is a super-insightful thread from a person who has a GREAT career in crypto, telling you exactly what to do!

So what’re you waiting for? 💰

📈 Chaach and Charts: Stay Alive To Earn

Move-to-earn king, STEPN, at its peak in May 2022, had daily active users of 705k. 💰

Now in 2023, it has less than 40k users. 😅

Is it going to be dead soon? Hard to say.

But it really has to fight to stay alive….and relevant. 🤷‍♂️

🥛 Milky Meme of the day

💰Answer💰

Let us know what you think 👇

If you want more doodh then, be sure to follow our Twitter (@DoodhwalaDaily)

That’s all for today bhaiyo aur bheno! Naale Sigona!

Aakash "Dahi Cheeni" Athawasya & Arvind "Doodh Peda" Krishna

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer.

None of what you read here is financial advice. We aren’t here to get you to buy or sell a crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.