Alvin, co-founder of Daily Coin Research
Currency experience: 7 years
Personal experience:
- Co-founder of "Daily Coin Research"
- Exchange OKEX social media manager
- Overseas Market Manager of Matrixport, a virtual currency asset management platform
The blockchain self-media brand "Daily Coin Research" established an Instagram fan page in 2019, which has accumulated 53,000 followers so far, and established an official website in 2021 to share relevant knowledge articles such as cryptocurrency project research and market trends. .
How did you get into the industry in the first place?
Alvin, who is now the co-founder of the blockchain self-media brand "Daily Coin Research", first came into contact with cryptocurrency. He saw his classmates buying Ethereum coins on the social software Instagram, which aroused his curiosity.
"When I was in college, everyone was very anxious. They wanted to save more money so that they could be used better in society," Alvin continued. "Cryptocurrency was still a very new thing at the time, and I was always interested in new technologies. I was very interested, so between investing in stocks and cryptocurrencies, I chose cryptocurrencies.”
Recalling that in his junior year of college, Alvin, who was only 20 years old, started investing in cryptocurrency. As a newcomer to the cryptocurrency industry, he chose to invest in Ethereum (ETH) regularly. "At that time, my deposit did not exceed NT$20,000, but as long as I made money, I would invest in Ethereum."
The main reason for choosing Ethereum over Bitcoin (BTC) is that, in addition to the cheaper price of Ethereum, the related applications of Ethereum are richer and more interesting.
The journey of investing as a novice
In the early days of investing in the cryptocurrency market, Alvin encountered the cryptocurrency bull market, and his principal increased by 10 times in value. However, investment stories are often not so happy and happy. "I went from a principal of 100,000 to 1 million, and then it dropped all the way to only 200,000. This process was very fast."
Although he did not invest much principal, this experience of losing money made him realize the importance of investment knowledge. In order to learn more about cryptocurrency, he began to study with friends, taught himself related technologies, and participated in many online courses.
Despite this, there was still a period of time when Alvin stepped on the thunder of any currency circle, whether it was FTX bankruptcy and funds being stuck, or DeFi projects being stolen. What impressed him most was when a DeFi project he invested in during the bear market exploded in front of his eyes. “I was riding a bike at the time and couldn’t do anything. I could only watch everyone discuss it, and then watch my $100,000 evaporate directly. .
Alvin shared that the biggest lesson learned during this period is to remain rational and spread risks.
Generally, when long-term investors buy stocks, they mostly look at the development of an industry in 10 to 20 years. However, currently there is no way in the currency circle to use such a large dimension to bet on a coin, so from an investment perspective, it is necessary to observe more aspects and tread more carefully.
"Some people say that APR in the currency circle is a fake issue, because it may only last one or two months," Alvin said, "So one thing I learned after that is 'Don't talk about feelings with the project anymore', this Concepts can save you a lot of money.”
📖APR: Annual Percentage Rate, which refers to the regular interest generated by the investment or loan principal. Looking at the currency circle, simply put, it is how much money an investment can make in one year.
Formula: Final total amount = initial investment amount × (1 + interest rate × time (years))
What apps are commonly used in the currency circle?
Security verification: Authenticator
Exchange + wallet: Binance, OKX, phantom
NFT：Magic Eden
Asset Management: Zerion, CoinStats
Data Tracking: CoinGecko
Lu Airdrop: Bento Batch
Where should a newbie start?
For novice investors, Alvin recommends starting with regular quotas of mainstream currencies.
He cited the example of his mother. The performance of regular investment for half a year could reach 50%. Alvin smiled and said, "This is better than the performance of many of my coins."
Alvin has been in the currency circle for so many years, and his current investment strategy is still based on Ethereum spot, accounting for 40 to 50% of the overall investment. The remaining half of the investment allocation is affected by the nature of the work. It is often necessary to observe the development of projects in various fields, so different projects including RWA, meme coins, etc. will allocate a little bit, mainly for short-term investments.
In addition, Alvin also mentioned that he likes to keep accounts, so that he can clearly understand where the entry and exit prices are, whether he has made money, or how much he has lost.
Alvin currently mainly uses CoinGecko for recording, because it can record entry points, create folders for different tracks, and observe their recent developments. Since CoinGecko cannot track the balance of mixed assets across exchanges or on the chain, you can also use Google Sheet to record based on time periods to better understand the status of your own funds.
In addition, Alvin also reminded newbies not to "stay away from contracts" because such high-risk operations often lead to losses. Alvin said helplessly, "I have also played with contracts, and I have reset to zero twice, so this is really a personal pain. I also realize that I am not a Trader, so I won't spend so much energy now." on contract transactions.”
What about something more advanced?
For more advanced players, Alvin believes that many opportunities in the market still come directly from the chain, so fields such as meme coins and DeFi can be tried.
Although DeFi is still at the "difficult to play" stage for most users at this stage. To complete a transaction, you have to worry about various issues such as where the money goes, how long it takes to complete the transaction, and how expensive the transaction fee is. For For users who are accustomed to the traditional financial environment, it is really unfriendly.
In addition, DeFi is still in its early development stage, with many scams and attacks. Many projects are immature, and there may even be problems of self-inflicted theft. Therefore, how to find a healthy and potential DeFi project through on-chain data will test the experience of investors.
Alvin shared that when he is researching a project, the most important criterion for judgment is to start with the background of the DeFi team members and the team’s past related projects. “I look at the team’s past experience very much, so that I can understand what their strengths are. And all this information can be found on public information platforms.”
In the next step, you can grasp the growth of on-chain data and produce a weekly report every week to record the development of on-chain indicators for each project, including the allocation of chips, exchanges, how the project side develops the currency, etc., and then analyze these aspects.
All information content is for reference purposes only and this article does not constitute investment advice.
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