{"id":6230,"date":"2020-02-09T13:46:07","date_gmt":"2020-02-09T11:46:07","guid":{"rendered":"https:\/\/www.dazzlepop.net\/site\/?p=6230"},"modified":"2020-02-09T13:46:19","modified_gmt":"2020-02-09T11:46:19","slug":"secrets-of-a-successful-crypto-trader","status":"publish","type":"post","link":"https:\/\/www.dazzlepop.net\/site\/secrets-of-a-successful-crypto-trader\/","title":{"rendered":"Secrets Of A Successful Crypto Trader"},"content":{"rendered":"
\"Secrets<\/div>\n

Sitting side-by-side in a trendy Manhattan cafe<\/a> where a glass of cold-pressed pineapple-and-carrot juice costs $9, the 29-year-old co-founders of cryptocurrency investment firm Multicoin Capital are ticking off the digital coins they\u2019re shorting. They stand to make millions if the virtual coins tank in value. \u201cTwo years from now, zcash is worth zero,\u201d says Kyle Samani of the three-year-old privacy-focused cryptocurrency. Currently, zcash trades<\/a> for $66. <\/p>\n\n\n\n

Research suggests<\/a> that few of zcash\u2019s users are taking advantage of its core privacy features. Even worse, other cryptocurrency platforms such as Ethereum are copying zcash\u2019s privacy technology. A zcash spokesperson counters, \u201cIf you want a private medium of exchange, there is nothing else like it.\u201d<\/p>\n\n\n\n

Samani\u2019s cofounder, Tushar Jain, is eager to finger another popular cryptocurrency the duo thinks is worthless. \u201cWe\u2019ve been publicly short XRP,\u201d he says, referring to the coin used by San Francisco<\/a> company Ripple to speed up interbank transactions.<\/p>\n\n\n\n

\"Secrets<\/figure>\n\n\n\n

From offices overlooking Austin, Texas\u2019 Lady Bird Lake, they manage a $100 million crypto hedge fund backed by venture capitalists including Marc Andreessen and Fred Wilson\u2019s Union Square Ventures. Multicoin concentrates its bets\u2014both long and short\u2014in 11 publicly traded cryptocurrencies. It also owns stakes in 20 private crypto startups.<\/p>\n\n\n\n

In a market where disclosures are optional and hype and momentum play an outsize role in pricing, the pair uses a combination of data analysis and crowdsourced research to inform trades. Above all, Samani and Jain have thrived because they question every tidbit of information they receive. \u201cIn the crypto community, these things are religious in some ways. They keep telling you, \u2018Believe, believe, believe,\u2019 forever,\u201d Samani says. \u201cWe never take it for granted that what\u2019s being said is accurate.\u201d This skeptical approach has been a big winner. According to those familiar with Multicoin\u2019s results, its fund has returned 143% before fees over the last two years.<\/p>\n\n\n\n

Read more: https:\/\/www.forbes.com\/sites\/jeffkauflin\/2020\/02\/05\/secrets-of-a-successful-crypto-trader-question-absolutely-everything\/#737c08bf2475<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"

Sitting side-by-side in a trendy Manhattan cafe where a glass of cold-pressed pineapple-and-carrot juice costs $9, the 29-year-old co-founders of cryptocurrency investment firm Multicoin Capital are ticking off the digital coins they\u2019re shorting. They stand to make millions if the virtual coins tank in value. \u201cTwo years from now, zcash is worth zero,\u201d says Kyle […]<\/p>\n","protected":false},"author":3,"featured_media":6233,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_vp_format_video_url":"","_vp_image_focal_point":[],"footnotes":""},"categories":[45],"tags":[31,237,158,450],"class_list":["post-6230","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business","tag-forbes","tag-leadership","tag-zcash"],"yoast_head":"\nDazzlepop | Secrets Of A Successful Crypto Trader<\/title>\n<meta name=\"description\" content=\"Secrets Of A Successful Crypto Trader Sitting side-by-side in a trendy Manhattan cafe where a glass of cold-pressed pineapple\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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