We reached out to experienced traders, venture capital founders, cryptocurrency influencers and others for their top tips, key Twitter subscriptions and stories about their most memorable deals. We’ll be talking to Scalar Capital founder Linda Xie, former product manager.
Ask cryptocurrency experts to name the most intelligent and smart people in the field. Linda Xie, founder of the venture capital fund, is the first one that comes up. Xie, pronounced “shay”, was interested in bitcoin while in college. However, it wasn’t until Overstock.com began accepting it in 2014 that she felt confident enough about the future to leave her financial job. She was one of the top thirty employees at the company and then became a product manager focusing on compliance and regulatory compliance. Scalar Capital, a crypto investment management company that specializes in startups dealing with crypto assets, has been her head since 2017. She says, “We are very focused on long-term.” “So, we enjoy being active, helping founders, and participating in communities.
Learn about your options
For beginners, it can be confusing to know where to begin with cryptocurrency. Xie recommends exploring the many possibilities offered by Ethereum, aside from Bitcoin as a starting point. She says, “We see significant amounts capital here.” “So, I believe it’s worth taking serious consideration Ethereum and its ecosystem.”
Immerse yourself into Ethereum
Xie says that one of the reasons to be optimistic about Ethereum is because it is the core technology that underpins the rapidly changing world of DeFi (decentralized financial infrastructure). “What’s gaining momentum?” What is the commission people are willing to pay? What is the traffic? What is the location of development activity? >>
Do not worry about it too much
It’s normal to feel as though you have missed the boat when prices rise rapidly. Xie recommends that you not worry about timing, particularly if you’re buying for the long-term. She says, “If you think about an asset and say, “It’s early and I believe that it can move,” then it’s not important to accurately calculate the price. Average purchase costs with a loss-safe amount You can scale it down over the long term, but many of them are still in their early stages.
Xie advises newcomers to cryptocurrency to only invest what they can afford to lose. DeFi is a complex topic that is best left to experienced traders. She recommends taking your time, and not starting with the most popular protocols. You can also exchange small amounts on decentralized exchanges. However, I want to stress that DeFi has been a problem for me and others. It’s extremely risky.
Linda Xie Xie Xie was “very deeply involved” in Bitcoin in 2015, when Ethereum became available. She recalled.
There was a lot to be skeptical about at the time. But she was certain that this investment had great potential and she placed a wager that paid off. She says, “When I invest I look for things which are very different than what is already existing.” I don’t like imitations. Ethereum was the only thing to come out after Bitcoin. This, I believe, really made things move forward.”
Go to the source
The cryptocurrency world is still very new. You can often find the extensive amount of information the community behind many projects (or their team) has posted on Medium and Twitter. Xie says, “And you should join Discord or Telegram or what they use for managing the community.” It can be very rewarding to get deep into the project and learn about the community.
Keep an eye out for the latest trends
EthHub and Defiant are some of Xie’s favourite sources of information, particularly about DeFi projects. Spencer Noon, an investor in the field, sends her the newsletter “Our Network”. She says, “When I see many people I respect talking on something, it’s definitely worthwhile a look.” It doesn’t necessarily indicate that it’s worth investing in, but it does show me that I have to learn more about it.
Share cryptocurrency with family and friends
Xie has been giving crypto as birthday gifts for many years. But she started giving bitcoin and ethereum recently to her friends’ kids and asked their parents to keep them safe until they can use them. She says, “By then it should be worth significant amounts.” “But, part of the coolness of this idea is simply seeing what happens when people keep cryptocurrency for such long periods.”