Considering Crypto and Risk with Tranchess Co-Founder Danny Chong

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BeinCrypto spoke to Danny Chong, co-founder of Tranchess. He discusses the changing landscape of crypto investment and how many directions the future of the space can take.

Since the release of the Satoshi whitepaper, most people have entered cryptocurrencies through bitcoin. Whether it’s because of a strong belief in the decentralized ethos or as a hedge against the current system, interest and investment has grown year on year.

However, with new arenas being opened up, such as non-fungible tokens (NFTs) and Decentralized Finance (DeFi), bitcoin as the first entrance and overarching investment is becoming less common.

Other cryptocurrencies are proving to be onboarding mechanisms and part of much wider spread portfolios. For Danny Chong, this is all about understanding individual investor interests and risk levels.

Ethereum offers a more attainable goal
Chong explains that it’s not clear whether bitcoin still retains the same power as it previously did. However, it is still a catchall term for those outside the community.

“A lot of people, if you’re not into crypto they associate bitcoin with crypto. The thing is, now we have more people coming into crypto and more people being educated on what crypto is and the kind of projects or coins out there. I don’t think necessarily people will be diving straight into bitcoin,” he says.

For Chong, those he interacts with possibly see owning one whole bitcoin as too unattainable. Now that the price has passed $60,000, it appears a costly asset.

While investors don’t have to buy a whole bitcoin, it does appear more manageable to achieve the goal of owning one ETH while it still sits around $4,000.

Source and continuation of news:  https://beincrypto.com/considering-crypto-and-risk-with-tranchess-co-founder-danny-chong/