He — presumably “he” — purports to be a longtime investor in Bitcoin and various cryptocurrencies, and claims to have at one point been a professional financial analyst on Wall Street. He likewise claims to have previously written for various online publications on everything from finance to sports. And when I write to him, I call him “Wolf.”
Westchester Magazine has understandably been unable to verify these claims, and while everything the Wolf has said regarding crypto investing strategies, coins, and recent developments has been detailed, reasonable, and insightful, his advice does not reflect the thoughts and opinion of our editorial staff.
As with any investment advice, we — and Wolf — strenuously recommend performing your own research before making any final decisions, and to never invest more than you are willing to potentially lose. That said, let’s take off our red hoods and meet the Wolf.
Related: How to Buy and Sell Bitcoin for Beginners
We have to ask … why “The Wolf of Westchester?” Obviously there’s the reference to Jordan Belfort, the “Wolf of Wall Street,” but why a pseudonym/anonymity?
Although I do enjoy the occasional glass of Scotch, I can assure you that I do not have the same vices as Jordan Belfort, nor do I scam or shill people on bad investment advice. I am merely a person who is passionate about cryptocurrency and has done very well for himself.
The reason for my anonymity is a nod to Bitcoin’s mysterious creator Satoshi Nakamoto, who still remains unknown to this day. Mainly though, I’d prefer if everyone in my sphere of influence didn’t ask me for cryptocurrency tips every time they see me. Anytime I am asked about crypto, I try not to give investment advice; I try to give people the tools they need to get started on their own. I would walk them through how to trade, navigate exchanges, give them research tools and informative websites, and so on. One friend gave me the nickname ‘The Wolf of Westchester’ and it stuck.
Can you provide our readers any credentials or experience that speaks to your expertise? Are you a full-time investor? What did you do before going full-time?
I sharpened my teeth on Wall Street as a financial analyst, and apply the investing principles and research methods I learned there to cryptocurrency and have done so with a great degree of success. I was born in crypto, molded by it, and passionate about changing the world through its technology. Other people just want to make money, which is fine and also a goal of mine as well, but the passion is what drives me to take a long term investing approach.
I always say, “Hard work beats talent, when talent doesn’t work hard.” I believe I put in more hours of research than most people do who consider themselves ‘full-time investors.’ The first time I heard about Bitcoin many years ago, I simply fell in love with it and it’s ideology, and have been obsessed ever since. I currently have a full time job in a completely unrelated field, but a majority of my free time is spent reading the latest crypto-related news, thoroughly researching websites and data, doing quantitative valuations of various cryptos, and monitoring message boards, blogs, articles and social media to understand current market sentiment and I have been doing this for years.
What advice can you give us about researching cryptocurrencies outside those currently available on Coinbase?
The most important thing is to put thought, research, and logic into your whatever you are considering investing in. I have seen too many people invest blindly due to FOMO (“fear of missing out”), or take the advice of shills online that promise 100x gains.
I usually begin my research by finding a cryptocurrency on CoinMarketCap.com, which lists all the basic information such as the crypto’s name, symbol, price, market cap, volume, coin circulation, max coin supply, price history, charts, and offers links to message board discussions and official websites.
When I find a cryptocurrency that I want to sink my teeth into, this is what I look for:
- The coin’s official website. There is a plethora of information available here, such as whitepapers, the team, & roadmaps.
- The whitepaper, which is basically the crypto’s business plan, should tell us what is the purpose of the crypto, why it is needed, what their goals are, how they plan on becoming successful, the technology behind the coin, and how the coins will be distributed, created, & allocated.
- I then take a closer look at the team. Don’t believe everything you read on their website. Due diligence is needed.
- Lastly I look at the roadmaps, which should put a timeframe on their goals and show where they currently are and what benchmarks they have coming up.
- The whitepaper, which is basically the crypto’s business plan, should tell us what is the purpose of the crypto, why it is needed, what their goals are, how they plan on becoming successful, the technology behind the coin, and how the coins will be distributed, created, & allocated.
- Look at the community. This can be done by reading various blogs, articles, and message boards about the crypto. Take everything you read here with a grain of salt, and always DYOR (“do your own research”).
What are some lesser-known “alt-coins” we should be keeping our eyes on?
I believe Ethereum is on the cusp of something big. I think this is the year where people will start to discuss Ethereum as being the next generation of Bitcoin technology. I am extremely excited to see what is in store for them this year.
Ripple may be one of the most [divisive] cryptos right now. It does go against the belief of many crypto purists: that the whole purpose of cryptocurrency was to remove a central authority such as banks and middlemen from transactions and give the power to the people. Ripple works directly with banks to help increase efficiency in their settlements.… I personally prefer Stellar Lumens as a payment processing solution, which does not involve banks.
Another crypto I have been following very closely is VeChain. They are a platform that aims to help businesses use blockchain technology to build a trustworthy business ecosystem for their supply chain logistics and products.
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What is the more profitable option moving forward: long-term investing or short-term/day trading?
Different strokes for different folks. I am a long-term holder and always will be. If you enjoy the rollercoaster of day trading then knock yourself out. If you carefully research and believe in the long term success of your cryptos, then by all means hold without the need to refresh your portfolio 600 [times] a day.
I only invest in cryptos that I believe [I] have thoroughly researched, believe to have strong fundamentals, solve a real problem, have a great team and plan in place, and whose coin will somehow bring me added value, be it rising of price, staking (holding coins in specialized wallet [and] receiving coins as a reward), or any other means. I can rest easy knowing that I invested in cryptos that I believe can still thrive should the bubble burst.
The market took a massive dip recently. Is now a time to buy while the value is low or get out at the next high before interest wanes?
I can honestly say that I didn’t bat an eyelash over this dip. It was expected after the gains we had this past December. The main reason for this dip was mainly due to FUD (fear, uncertainty, doubt) over Asian exchanges such as South Korea and China.
There were no actual facts that came out that caused me concern. Tightening up regulations of suspect exchanges is a good thing and is there to help protect customers. The rumors of China outright banning are laughable as they just announced that a large government-backed tobacco company is partnering with VeChain. As someone who invests only long term after carefully researching all aspects of a cryptocurrency, I saw nothing that caused me to be even the slightest bit concerned of any of my holdings, and in fact have added to my stacks during these dips.
“The best time to plant a tree was yesterday, the second best time is now.”
It is extremely difficult to time markets, especially one as volatile as the crypto market. I would recommend using dollar-cost averaging when you decide to finally invest, which is putting in a fixed amount on a regular schedule regardless of price.… During the dips I buy more and add to my long-term cryptos, and during highs I take some profits out. It’s a simple method and sometimes works best.
It truly is the Wild West right now and that’s what I love about it. Some people invest in the stock market and are happy with 5-10 percent returns all year. 10 percent swing in either direction is a boring day in crypto. There is money to be made and money to be lost, but either way I chose to partake in something I believe is revolutionary rather than watch from the sidelines.
Like, I always say, “It’s better to live one day as a wolf than one hundred years as a sheep.”
If you have questions about cryptocurrency investing, you can submit them to the official Wolf of Westchester Instagram Account.
