Axios Crypto: Meet Darragh Grove-White

Today we’re doing something a little different, talking with one of our readers, someone who has come out ahead through crypto investing — though not without some stomach churning reversals along the way.

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

He was one of many Canadians out of luck when the founder of the exchange QuadrigaCX, Gerald Cotten, died (?) 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 verified the success of his portfolio.

Scoreboard: He invested in more than 180 coins. His first three purchases were bitcoin, Monero (a privacy cryptocurrency — that trade is still down), and Verge, which has shady affiliations.

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

The biggest loss was a token that was the right idea (blockchain finance), but the wrong company 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.

It has worked in his favor. He explained, “I’m just super curiosity.” It’s not enough to just read charts in crypto. A person needs to get in to understand it, he contends.

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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