Advancements in the wallet space are exciting as they serve as the entry point for new crypto users. However, upon initial examination, IB Wallet falls short of meeting these expectations IMO.
The product vision seems to contradict the target users. Hardware wallets and crypto wallet apps are typically preferred by experienced crypto investors seeking enhanced security for their holdings. Unfortunately, the current version of the IB Wallet app only supports BTC and ETH, which is insufficient for serious crypto users.
Moreover, IB Wallet lacks strong competitive advantages over existing wallet providers. Its main differentiation lies in the IB card, offering convenient design. However, similar designs have been introduced by other competitors without gaining significant market adoption.
Lastly, among the proposed utilities of IBW - payment, governance, and exclusive access - the first two appear unnecessary. Users generally prefer transacting with fiat or stablecoins, or at most ETH. This tokenomics design could create an additional barrier for users. Additionally, there are limited aspects within a wallet company that the community can effectively vote on with IB Wallet. Show Less
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