Introducing Loaded Money: A first-of-its-kind personal finance app bridging the worlds of Centralized Finance (CeFi) and Decentralized Finance (DeFi) to empower the next generation of wealth
Millennials are overwhelmed. We all know the storyline — more millennials have student loan debt than any other generation (14.8 million of us, to be exact, at an average of $38,877 per borrower). We fear we won’t be able to accomplish typical financial milestones, such as buying a home, starting a family, paying off student debt, and saving for retirement.
Another lesser known fact is that the millennial generation is poised to inherit $30 trillion from older generations over the next few decades. This intergenerational wealth transfer is the largest to occur in history.
These challenges make financial literacy and financial planning critical, not only for our own livelihood but also for the future of America’s economy. Guidance from our predecessors as it relates to personal finance can be limited as well, considering that the general financial landscape and paths to wealth and retirement have completely transformed over the last several years.
The exponential rise of technology and social media have made a huge impact on the economy — not only by contributing directly to the ups and downs of the market, but also by introducing a new form of digital currency, known as cryptocurrency.
Cryptocurrency is a form of decentralized finance (DeFi) that removes the middleman involved in centralized finance (CeFi) — banks and financial institutions — by enabling consumers to create their own forms of currency in a completely digital space.
The world of crypto is extremely technical, and the average consumer typically has a tough time grasping its ins and outs. How does my money become digitized? Where does my money go when it is invested into digital currency? How are these forms of currency expected to grow and how do they provide greater returns on my investments?
Cryptocurrency has grown immensely over the past decade and has shown minimal signs of slowing down. Coinbase, an online platform for buying, selling, transferring, and storing cryptocurrency, has grown its monthly active users from 0.7 million in 2018 to 8.8 million in 2021 and total users from 1 million in 2014 to 56 million in 2021. Consumer adoption of cryptocurrency has been compared to internet adoption when it was first introduced in the sense that it started slowly, but over time it is projected to explode.
With this growth comes tremendous financial opportunities that millennials may potentially miss out on due to an overall lack of crypto knowledge and limited access to resources and platforms that connect the dots.
As experienced financial professionals, we saw the opportunity to bridge the worlds of centralized and decentralized finance to further enhance millennials’ journey to financial freedom.
So, we created a FinTech app — Loaded Money — that ultimately puts consumers in control of their financial journey while giving them access to opportunities within the DeFi realm that they may not otherwise have access to or knowledge about.
The goal of Loaded Money is to empower consumers to take accountability of their money and reach goals faster with typical financial planning metrics while also providing education and access that comfortably brings them into the world of cryptocurrency.
Loaded Money enables users to uncover a holistic view into their financial life and monitor their financial health. Users can connect with financial coaches, track financial planning metrics, and access high-yield DeFi savings accounts.
The initial app launch will be followed up by the launch of Loaded Wallet, a self custodial crypto wallet that gives users total control of their assets. Typical crypto wallets come with high risk because their seed phrases are not recoverable. Loaded Wallet will reduce risk with a socially recoverable seed phrase, further enhancing users comfort with starting their DeFi journey. Users will also be able to invest in Loaded Portfolios, DeFi portfolios designed for all risk levels with curated DeFi investments and diversified DeFi assets. Further down the line, we plan to introduce Loaded Tokens, a tier-rewards program that will enable users to receive unique benefits.
The first version of Loaded Money will be launching within the next few months.
Follow Loaded on Twitter (@Get_LoadedMoney) to stay in the loop with the launch and get updates on our forthcoming crypto wallet while also receiving educational and informative posts on all things related to personal finance.
Once it’s live, download Loaded Money and let us know what you think. We are here to create a tool that responds to the needs of our users, and we welcome any and all feedback.
We are so excited to introduce the Loaded brand to you all. We can’t wait to help thousands of consumers reach their financial goals and build the next generation of wealth.
Let’s #GetLoaded.
Nathan Parkins & Nick Van Noort
Co-Founders
Loaded Money
