Top 10 Types of Crypto Owners – You Need to Know

Learning the top 10 types of crypto owners can help you better understand others in the community. The crypto market now encompasses many industries. As such, many types of crypto owners contribute to the technology’s adoption and integration. Here are the top 10 types of crypto owners you are most likely to encounter along your journey.

1. Bitcoin Maxi

On the top of the list is the Bitcoin Maximalist. These are individuals who hold Bitcoin above all other projects in the market. Many see them as a double-edged sword mainly because they are the backbone of the market but can sometimes come off harshly against new and often more technologically capable projects.

Bitcoin Maximalists are vital to the industry, and many have been there since the start of cryptocurrencies. Their experience and advice hold weight as they have lived through many crypto winters. They are committed to Bitcoin and its goal of providing an alternative financial solution to the world.

The most extreme Bitcoin maximalist will denounce any project that isn’t based on Satoshi’s vision. Additionally, they can seem negative to new users because they have lived through wild swings in the market, such as the 2017 ICO craze and following bear market.

The term HODL (Hold On for Dear Life) was created for these individuals. Their commitment to Bitcoin is unwavering, and they continue to drive innovation to keep Bitcoin relevant. For these reasons, it’s always good to have a couple of Bitcoin Maxis on your friend list.

2. Miners

Miners are another core component of the market. They are much rarer than Bitcoin maximalists as their profession does require a bit of technical skills and a heavy investment, depending on the network they mine. Miners are vital to the security of decentralized networks.

They also serve a crucial role in the governance of many of the most popular networks in operation today. Even with the use of PoW networks like Bitcoin beginning to shrink in favor of alternatives, miners still are one of the most influential groups in the market.

Miners still hold a high-value role in the networks they operate within. For example, miners must vote on Bitcoin alterations and upgrades such as Segwit. Their importance was highlighted during the controversial Bitcoin Cash hard fork that saw mining hardware creators help push the creation of the new crypto.

Today, miners have many options regarding platforms, hardware, and whether to use pools or not. All of these services make it easier for the average person to go from friending a miner to becoming one. The cool thing is that becoming a miner puts you directly in the operations of a decentralized blockchain, which adds to your importance in the market.

3. The Classics

Another type of crypto owner you are likely to run into is a classics trader. These individuals only trade highly popular networks such as Ethereum, Solana, Stellar, or others. These users leverage centralized exchanges where they can easily access these assets securely.

It’s good to have a classic trader on your side. They usually have a low-risk appetite and have mastered the skill of company research. Their portfolios are balanced and can include popular smart contract programmable networks, layer 1 blockchains, and Bitcoin.

Large investment firms will usually fall into this style of trader. They don’t have a high-risk appetite and, therefore, are unlikely to venture into any options that haven’t already established a reputation for quality. The exception to this rule is using ETFs, which provide exposure to digital assets without directly holding them.

Add a few classic crypto traders to your friends list to help you gain a better understanding of the history of the technology. In most instances, their portfolio will read like a time capsule that incorporates blockchains that made major changes in the market.

4. Ethereum Wizard

The Ethereum wizard has mastered the Ethereum ecosystem. Accomplishing this task is not easy as it’s the world’s largest and most active Dapp and DeFi community. Notably, Ethereum has held this title since it introduced smart contracts to the market in 2015. Today, it remains a force in the industry.

The Ethereum wizard will have a variety of different digital assets that represent the network’s evolution. The most experienced Ethereum wizard will hold some Ethereum classics in their portfolio. This was the version of Ethereum that was the main network token before a $50M DAO hack. The hack caused the network to roll back and hard fork the blockchain.

These crypto owners will also have unique DeFi assets such as CryptoKitties NFTs. This project was the first NFT platform to take flight on the Ethereum blockchain. It introduced the play-to-earn concept to many users and helped to start the NFT market expansion of the last 2 years. Notably, some CryptoKitties NFTs have sold for +$100K.

Ethereum wizards can seem confusing to new users as they often leverage terms exclusive to the ecosystem. Don’t let this situation make you reconsider their companionship, as they make great mentors in the market and can help you stay excited and ahead of the curve.

5. DeFi Masters

The next crypto owners that you will encounter are DeFi masters. These crypto owners leverage the latest DeFi systems across all networks to secure returns. They aren’t as common as the other users on this list but are easily found on social media.

DeFi masters will leverage advanced protocols such as yield farm aggregators to automate complex processes down to receiving rewards. They aim to drive capital efficiency to new heights by securing the most returns from the same tokens as possible. This strategy can be seen in today’s newest features, such as restaking.

DeFi masters have their hand in many different aspects of the market. They commonly have liquid staking tokens and other assets that represent other assets in pools or even on other blockchains. These users are resourceful and have access to the most advanced technology in the market.

For example, you may have a DeFi master who wraps Bitcoin to bring it into the Ethereum ecosystem. From there, they may stake, farm, lend, and even restake the asset. All of these options add to their rewards without increasing their risk much. In the end, they keep the rewards and receive their staked assets back.

6. Developers

Developers are the top tier of crypto owners you can befriend. These users understand the technology on a level that makes them unique. Developers are the main way that users and blockchains interact. The creation of dapps and decentralized platforms is the primary way for people to be introduced to the market.

In the past, finding blockchain developers was tricky. However, social media makes this a non-issue today. You can simply find projects you like and reach out to the developers directly. In most instances, they will be communicative and helpful.

You should ask them if they are working on anything new for the current project or if they have any new platforms in the works. This simple question can result in you learning about a new opportunity before the trend. Notably, active developers are the best options.

Be sure to do your research on what developers you want to add to your reference list. Not every developer is the same in terms of quality or past project success. Thankfully, all of the top-performing options in the market have easily accessible development teams eager to interact with new users.

7. Gamers

The play-to-earn revolution has placed games at the forefront of blockchain adoption. Game developers have noticed the advantage of integrating blockchain assets into titles. For one, they can improve transparency and add value to their assets via blockchain data.

Additionally, developers and users can secure higher returns on their digital assets via the secondary markets. In the past, gamers would play and maybe get some recognition. Nowadays, P2E gamers are securing returns for their efforts.

Items like avatars, weapons, and even skins can be traded on high-performance DEXs for other digital assets like Ethereum. This open infrastructure has had some surprising results. For example, they continue to push innovation, such as the drive to create multi-game assets. These tools can branch across multiple digital universes and titles, adding to their value.

The P2E market is on the rise, with triple-A studios entering the race. As such, you can expect to meet many more blockchain gamers as their skills become more valuable in the coming months. Soon, gaming could be a viable career for those talented enough to make it happen.

8. NFT Specialist

Non-fungible tokens are digital assets that can represent a single item. They are unique in their digital characteristics and can be validated in seconds using a free blockchain explorer. These factors make them ideal for multiple use case scenarios.

The NFT specialist is a crypto owner who deals specifically in NFT assets. They are familiar with the top artists and marketplaces for finding unique collections and launches. It may seem like magic when they explain how they transformed a single token into a respectable return, but a lot of research and skill goes into their ventures.

NFTs remain one of the fastest-growing sectors in the market. These tokens have found a home in the art and gaming worlds. Today, many artists use NFT technology to help protect and authenticate their work. There are even NFT platforms that streamline the creation and monitoring of the use of these assets.

NFT specialists may be content creators or collectors. They will often have an impressive gallery where they showcase their collection to the world. Like Bitcoin maximalists, they probably have some tokens that they won’t sell to you at any cost.

9. Experimental Coiner

The experimental coiner is the trader that chases projects based purely on their market cap and price. This type of crypto user is not versed in the history of the technology or the market. They trade off their instinct and what they observe on social media channels.

Experimental coiners may sound like a problem in the market due to their speculative approach. However, they are a crucial part of adoption as they are ready and willing to support new projects that many others on this list would pass up. They have a high-risk appetite and aren’t scared to put their eggs in experimental baskets.

Your experimental coiner friend will keep you excited about potential game-changing technology. However, you must take their advice with a grain of salt as they are willing to trade projects that may not have any technical substance and only exist on paper.

Ironically, many experimental coiners see great success in the market. They use social metrics and their advantageous strategy to get in on the ground floor of projects. While the majority are destined for failure, it only takes a few successes at this pace to build up a healthy stash and experience.

10. Hype Man

The last type of crypto owner on this list is the hype man. This style of owner may not even hold any crypto, but they always advocate for it. They are the person who may have only a  few coins but continue to tell their well-off friends to go all in on the market.

It’s easy to dismiss the hype man like he plays no direct role in the community because he doesn’t have a massive stash like others. However, it’s their enthusiasm and perspective that helps to keep the market lively and drive adoption. Keenly, every good project has a few hype men in their community to keep people excited.

It’s vital not to mistake hype men with scammers. The main difference is that hype man will promote projects that are worthy of their attention. They will also disclose that they hold these assets and are helping to drive adoption not just for love but to help improve their ROIs.

It’s easy to find a crypto hype man online. They often promote a project and are usually very vocal within their communities. A better option is to find a hype man in person. This individual can help to keep you in the loop of new technology and give you a real-world perspective.

What Type of Crypto Owner Are You?

There are so many different types of crypto owners helping to drive adoption today. You may find that you fall into a variety of these categories depending on the project and market conditions. The main thing to remember is that all of these types of crypto users are essential as they help to drive adoption and educate the masses about all of the benefits blockchain networks bring.

You can learn more about exciting blockchain projects here.

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