Alvin, co-founder of Daily Coin Research
Experience in the cryptocurrency field: 7 years
Professional Background:
– Co-founder of “Daily Coin Research”
– Community Media Manager at the exchange OKEX
– Overseas Market Manager at the virtual currency asset management platform Matrixport
The blockchain media brand “Daily Coin Research” was founded in 2019 on Instagram, accumulating 53,000 followers to date. In 2021, the official website was launched to share articles on cryptocurrency project research and market trends.
How did it all start?
Alvin, now a co-founder of the blockchain media brand “Daily Coin Research”, first came into contact with cryptocurrencies when he saw a classmate buying Ethereum on the Instagram social app, sparking his curiosity.
“In college, everyone was anxious to save money for a better future after graduation,” Alvin explained. “Cryptocurrency was still a new concept back then, and since I have always been interested in new technologies, I chose cryptocurrency over stocks.”
At the age of 20, in his third year of college, Alvin started investing in cryptocurrencies, choosing to regularly invest in Ethereum (ETH) as a newcomer to the field. “I didn’t deposit more than 20,000 NTD at the time, but every time I made some profit, I invested it in Ethereum.”
Apart from the affordability of Ethereum compared to Bitcoin, Alvin was attracted to its richer and more interesting applications.
A novice investor’s journey
Entering the cryptocurrency market during a bullish phase, Alvin saw his initial investment grow tenfold. However, investment stories often don’t end happily. “I went from 100,000 to 1 million, then all the way down to just 200,000 in a very short period,” he recalled.
Although he didn’t invest a significant amount of capital, this loss made him realize the importance of investment knowledge. To deepen his understanding of cryptocurrencies, he started studying with friends, self-educating on related technologies, and taking many online courses.
Despite his experiences, Alvin faced challenges in the crypto world, from troubles with FTX closures to DeFi projects being hacked. The most memorable incident was during a bear market when a DeFi project he invested in exploded, resulting in the loss of $100,000 right in front of his eyes.
Alvin learned the biggest lesson during this period – to remain rational and diversify risks.
While long-term investors in stocks typically look at a 10- to 20-year industry development, Alvin emphasized the need for a broader perspective in cryptocurrency investments. He advised observing various aspects and treading cautiously to minimize losses.
“Some say the APR in the crypto market is a false topic because it may only last for a month or two,” Alvin explained. “So, what I learned from that is ‘not to get emotionally attached to a project,’ which can save you a lot of money.”
APR: Annual Percentage Rate, referring to the interest generated by an investment or loan principal. In the crypto context, it represents how much money one can earn from an investment within a year.
Which apps are commonly used in the crypto world?
Security Verification: Authenticator
Exchange + Wallet: Binance, OKX, Phantom
NFT: Magic Eden
Asset Management: Zerion, CoinStats
Data Tracking: CoinGecko
Loot Drops: Bento Batch
Where should beginners start?
For novice investors, Alvin suggested starting with regular investments in mainstream cryptocurrencies. He cited his mother’s example of achieving a 50% return by consistently investing for six months, surpassing the performance of many cryptocurrencies.
After years in the crypto space, Alvin’s investment strategy still revolves around Ethereum, which accounts for 40-50% of his overall investment. The remaining investment allocation is influenced by his job requirements, leading to a focus on short-term investments in various projects like RWA and meme coins.
Alvin stressed the importance of keeping track of finances, using CoinGecko to monitor entry points and overall developments. Since CoinGecko lacks the ability to track cross-exchange or mixed asset balances, he recommended using Google Sheets to supplement financial monitoring on a weekly basis.
Additionally, Alvin cautioned beginners to steer clear of contracts due to their high-risk nature, drawing from his own losses in contract trading experiences. He admitted to losing everything twice and realized he wasn’t cut out for being a trader, hence reducing his focus on contract trading.
For more advanced players
Alvin believed that many market opportunities arise directly from the blockchain, making fields like meme coins and DeFi worth exploring for advanced players. Despite DeFi being challenging for most users at this stage, due to concerns about fund safety, transaction completion times, and high fees, he recommended researching team backgrounds, past projects, and public information platforms to make informed decisions.
Alvin stressed the importance of understanding team experiences in evaluating DeFi projects. He advised creating weekly reports based on chain data growth to analyze various aspects such as token distribution, exchanges, and project development.
All information provided is for reference purposes only, and this article does not constitute investment advice.