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 is one.

Details: Canadian marketing technologist Darragh Grove-White is ahead, but not without taking some painful hits.

“I made many mistakes. I’ve had crypto exchanges take my money,” he tells Axios.

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 fortunate ones. By his account, since the Quadriga loss he’s turned around. He’s up around 11x on his principal, though there have been wild oscillations in that number recently.

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.

He said, “I’ve had some that did really well and even less that I thought would do well.”

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. He is a lot more technical than the average person, given his day job.

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. He contends that one must get into crypto to fully understand it.

Be smart: He has been in the business for four years and sees new people arrive in waves. You can spot the new investors on Twitter and Discord — they are always looking to make a 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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