A chat with crypto enthusiast Phillip Liñan

Today I had the pleasure of talking with Phillip Liñan, who made trading forex and crypto his main occupation. I hope you will enjoy the following article too.

Phillip’s interest in Bitcoin arose in 2014 after getting a tip from his father about “something that will turn the financial system on its head”. After some consideration, Phillip started researching the topic and soon found himself deeply fascinated by his learnings.

With a background in economics he found himself deep in the world of cryptocurrencies and decided to start trading.

When I asked him “Why do you invest in crypto and what is your final goal?” he replied, “I would like for bitcoin and crypto to receive mainstream adoption”.

Over time, Phillip became more knowledgeable and fascinated by what the technology can achieve when adopted by the common person. He spends a lot of time explaining Bitcoin to the public and helping other people get started with it.

Then, of course, it is a great speculative opportunity. Therefore he is trading to get an income out of his passion.

I wanted to know from Phillip what kind of research he does before investing in a cryptocurrency. “The first thing I distinguish is the difference between investing (long term) and trading (short term)”.

When he invests, he starts by reading the whitepaper. There all the details about the project can be found. Questions that he asks himself are: “What is the use case? How impactful will it be on society? If the project is to create a global currency, then how will scaling issues be resolved? Who is on the main team and what is their background? Do they have any experience in the field of blockchain and cryptography?”

Before trading, he checks if the cryptocurrency trades on one of his preferred exchanges and if there is enough volume to place a trade. “You can make a 10x on a trade, but it’s quite frustrating if you’re not able to sell it due to lack of liquidity”. He does a lot of technical analysis on a daily bases. “A trader should be able to trade everything and anything based on a chart alone”. That’s why he applies the same procedures for trading both forex & crypto.

I asked him how his typical day looks like:

“I wake up at around 6:30. After coffee and breakfast, I open up the charts and look for opportunities. Depending on the market sentiment I will place some trades, take the time to investigate different projects or just casually inform myself. During the afternoon and early evenings, I’ll find myself teaching or skating on the ice. The athletic & social interaction is very important to me. A healthy body leads to a healthy mind and helps me keep an important balance in my life. Before going to bed, I’ll check the status of my trades or potential opportunities. I probably spend about 2–3 hours a day looking at charts”.

I wanted to know from Phillip whether he had created a custom analysis for himself. He tells me that he simply tries to understand the potential of a project. “At the end of the day all of this is just speculation. Therefore it’s crucial that you understand as much as possible when it comes to cryptocurrencies. Especially with all the heated debates and opinions that can be found. When looking at a project or cryptocurrency long term, I simply try to evaluate the potential market cap”.

Taking Bitcoin as an example: All the “broad money” in the world is estimated to be about $90 trillion. If Bitcoin could acquire 10% of that it would have a market cap of $9 trillion, which is huge!

I was very curious to know if Phillip had any uncertainties when it comes to cryptocurrencies. He used to have a lot of uncertainties but as he gained more experience and knowledge, they disappeared. “Doubt leads to destruction. That’s why when it comes to trading you have to have a system and then execute it. It’s advantageous if you don’t trade emotionally”.

To conclude I asked him: “What are your secret tools for having an edge?” It’s simple for him:

“Do it every day, learn from your mistakes & stay committed.”

Phillip Liñan has recently joined the Crypto Xpert UK team together with James McDowall who I also recently interviewed.

If you want to talk to Phillip and ask him for advice, you can find him on Twitter, like the Crypto Xpert UK page on Facebook or join the discussion group.

Twitter: @PhillipLinan
Crypto Xpert UK Facebook page
Facebook discussion group

I am Claudio, the author of this article and the creator of Decryptoray, a tool that helps crypto investors analyse and compare cryptocurrencies to make better investments. Check it out.