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 many mistakes. 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 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 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.

It has worked in his favor. “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: 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 invest like it’s a bit of a joke.”

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