Call Notes:
Altcoin Sherpa’s Background
He brings 6+ years of experience in crypto - Since 2016
He trades crypto and makes venture investments
He built his talent in 2018 and 2019
A master of Twitter as a lead learning and social platform – He loves to connect with friends and likes to educate them while learning in the crypto space
His content creation expertise is evident on other platforms like YouTube and Telegram – where he talks about the market. However, Twitter is his home for crypto and Web 3
He enjoys doing educational crypto videos for fun
What made Sherpa get into crypto?
After working with several companies in the gaming niche, like the Berlin sports industry, he found it easy to send money via Bitcoin (BTC) instead of bank wires throughout Europe.
Wires take lots of time and also charge a lot in currency conversions. Transactions are manual and problematic.
With time, Bitcoin solved his transaction problems and kept digging and discovering a lot in the crypto space
Eyeing the Market State
With many cryptocurrencies, the lengths or directions things can take is unknown.
How much is Solana going to be dumped at the market?
How much of these tokens is collateral?
To what extent will the venture deals be left in the market?
With too much unknown information, investing in activities like liquid-token trading is scary. The environment is uneasy and filled with uncertainty.
Opinion on DeFi
Most decentralized exchanges are new. The user interface and experience are overwhelming to new users
While the UI/UX improves, it means an opportunity for mass adoption and increased trust for DeFi. Users shouldn’t have to take up to 15 steps to buy a token
How can one be safe in the market?
If you are not committed - available to dedicate time - to the crypto market, the best approach is to buy Bitcoin and Ethereum
There are many upcoming protocols like Sui and Aptos, but no clear indications of whether they will make it. It’s better to stick to blue-chip assets. It takes time for a protocol to establish stable ground in the crypto market
In other words, in a crypto winter, Sherpa suggests sticking to projects that have less potential upside but a higher level of security
Is there a natural guide to trading crypto?
Unfortunately, knowledge of crypto is rare. If you are starting, keep learning and using things like Google and YouTube to build on your understanding. There is no ultimate guide to trading crypto
However, it is an adventurous road to take while learning more about the crypto space. Please focus on the overall topic you like; find your niche and specialize in it
Final Words
Be slow and patient if you wonder what framework to use when approaching the market
For example, you can purchase Bitcoin and Ethereum and hold. Its value could rise to 10 times its last bull market while it takes time (nobody knows how long) for protocols to recover
You know your money's importance; it is more than just throwing money into DeFi
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