Axios Crypto: Meet Darragh Grove-White

Today, we are talking to a reader who has made a fortune through crypto investing. However, there have been some stomach-churning reversals.

Why it matters: Cryptocurrency is often referred to as a democratizing opportunity. However, regular people rarely see stories of non-professionals placing wagers in the space. Here’s one.

Details: Darragh Grove White, a Canadian marketing technologist, is on the leading edge. But, he took some hard hits.

“I made a lot of mistakes, for sure. He tells Axios that he’s had cryptocurrency exchanges take his money.

He was among many Canadians who lost their luck when Gerald Cotten, the founder of QuadrigaCX, died (?). in India.

State of play: Grove White is one of the lucky ones. According to his account, he has made a complete turnaround since Quadriga’s loss. Although there have been some wild fluctuations in that number, he’s now up about 11x over his principal.

Axios has confirmed the success of his portfolio.

The scoreboard: He has invested in over 180 coins, his first three purchases being bitcoin, Monero (a privacy coin — that trade is still down) and Verge, a coin with salacious affiliations.

“I have had a few that have done really well and even fewer that I knew would do really well,” he said.

The largest loss was caused by a token that was right in its idea (blockchain financing), but was wrong at the wrong time. His biggest win was a lucky guess about which solution to fix Ethereum’s speed problems would click with users first.

Context: While he only got into crypto in 2018 (a bear market year), he had some advantages. Given his day job, he’s considerably more technically sophisticated than most people.

That has worked to his advantage. “I’m just super curious,” he explained. In crypto, it’s not enough just to read and watch charts. A person needs to get in to understand it, he contends.

Be smart: Having been in for four years, he sees new arrivals come in waves. The new investors are easy to spot on Twitter and in the Discord channels — they are always looking for the quick buck.

He said, “This latest cohort of noobs was their on-ramp the Wall Street Bets experience.” “Meme coins are a popular investment option for a lot of the n00bs. They make it seem a joke to invest in meme coins.

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