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With digital currency markets in turmoil, crypto consultants are in high demand. The cryptocurrency’s popularity skyrocketed in April when the Coinbase trading platform went public at a valuation of $ 86 billion. Exchange platforms like Coinbase have made the world of crypto more accessible to the average investor, spurring interest in the industry. And it shows. Bitcoin hit an all-time high in April, followed by a wild rally of 500% in dogecoin, an asset that was created as a joke in 2013. Cryptocurrency supporters have spent years insisting that ethereum, bitcoin, and other digital assets could revolutionize the world of finance. , and with the success of Coinbase’s debut on Wall Street, these backers are finally having their moment.
Nicole DeCicco, a single mom in Portland, Oregon, started her own cryptocurrency consultancy, CryptoConsultz, in 2017 after a hacker stole 323 ethereum tokens, which she says are now worth over a million dollars.
DeCicco was working as a nurse at the time it was hacked. She used to mine ethereum in her garage as a hobby, and she said that the “very devastating experience” had completely changed her career path. “It really fueled my passion for helping others gain access to cryptocurrency and learn more about blockchain technology,” DeCicco told CNN Business.
She offers advice to private investors and companies. A first individual consultation costs $ 350 per hour and a first commercial consultation costs $ 650 per hour. Follow-up consultations cost $ 300 for an individual appointment and $ 550 for a business appointment. In addition to running her own consulting firm, DeCicco is Vice President of Business Development at Blockchain Mint and Cold Storage Coins. Both companies produce crypto-related products in the form of tangible assets, including gold and silver coins.
Through its services, DeCicco teaches investors how to navigate the crypto markets, including buying, selling and trading digital currencies, and offers Crypto 101 webinars that delve into the basics of digital currencies and the blockchain. It also shows clients how to monitor their investments and reduce their risk of losing money.
Catch the buzz
Cryptocurrency is also buzzing in pop culture. Tesla (TSLA) CEO Elon Musk joked about dogecoin on “Saturday Night Live” and he often tweets about bitcoin, which can wreak havoc in the market. Backstreet Boys star Nick Carter tweeted on May 10 about the recently released shiba coin, a memes-inspired dogecoin spin-off, sharing the hashtags #SHIARMY and #shiba with a GIF of a spinning coin . A shiba coin is currently worth less than a cent, but the value of the cryptocurrency has grown over 2,000% over the past month and currently has a market cap of $ 5.9 billion, according to Coinbase.
Expensive advice
The consultant’s offerings range from investment advice to technical help and support for people who want to set up their own home cryptocurrency mining platforms.
And the prices vary too. Cryptocurrency consultant Shane Staats started his career in e-commerce and tech support in 2003. Since then he has held a wide range of jobs and now he owns a crypto consulting firm where he charges $ 650. time to customers. “My pricing affects the customers I attract,” Staats told CNN Business. But he says some of his clients only need one session and then they go shopping.
Crypto consultant Russ Davis, who has conducted a variety of activities over the past decade including credit card processing, has seen his business, In Russ We Trust Crypto, take off this year. He said he consulted around 500 investors in February, a group made up of his friends, family and Facebook group followers. Each person invested, on average, about $ 300 in a shiba coin, according to their recommendation. At the time, the amount of money invested was around $ 150,000. At the coin’s current value, those investments are now worth around $ 60 million, Davis told CNN Business. Since then, Davis says he has built a list of famous clients.
Risky business
As with the market itself, crypto consulting is absolutely unregulated, so consultants technically don’t need formal qualifications, and there’s no way of knowing exactly how many advisers are pursuing this. career path.
And as the public becomes more interested in investing in crypto, a large part of the education process is to recognize the intense volatility of digital currency values. “It’s a dangerous game,” Mark D’Aria, CEO of Bitpro IT, a company that buys crypto mining hardware, told CNN Business. And when it comes to investing, “unless you’re ready to see your money go, don’t even think about it,” he said.
Robert Pagliarini is a Certified Financial Planner and the President and Chief Financial Advisor at Pacifica Wealth Advisors, where he focuses on financial transitions such as retirement, selling a business, inheritance, stock options and d other sudden wealth events. “Certainly over the past year there have been a lot more conversations with clients about investing in crypto,” he said. “It kind of took everyone by surprise, I think, in the financial world.”
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