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Inspiring Interview #3 – Alchemical Crypto

Explore, question, learn. The potential of Web3 is too significant to overlook!

Who is she?

Alchemical Crypto – Feel free to reach out and slide into her DMs with a virtual high-five! Don’t be shy, she’s just a message away from connecting with an awesome individual like you.

Let’s make some magic happen!

How and when did you start with Web3?

My introduction to the world of Web3 started during the 2021 bull market (ps. I did not even know what that was – learned quickly when the bears came thriving). Someone really close to me started investing and introduced me to crypto. I have to admit, his passion really intrigued me.

Previously, my spending habits involved mostly buying (unnecessary) items. So, I decided instead of spending – investing. I definitely experienced a shift in mindset.

I started my journey by investing, then learning more about cryptocurrencies, blockchain, and of course Web3. I got really passionate. (By the way, I do not recommend this sequence – always learn first, invest second).

My journey in this ecosystem has been pretty diverse. I have explored crypto, NFTs, I have co-facilitated roundtable discussions, and even served as one of the juries of this year’s ETHBrussels Hackathon. At the moment, I am focused on education and helping others understand and navigate this ever-evolving space.

What do you love most about Web3?

I am really fascinated by the potential of Web3. The power of change, the promise of freedom, and the untapped potential it holds. And I am talking specifically about its transformative technology – the blockchain technology.

How many times have you heard the news focusing mostly on the volatility of cryptocurrencies and failed centralized exchanges? Too many to remember I assume. What media does not show and tries to overshadow is the potential this technology holds.

Blockchain technology can give voice and power back to the people. The underprivileged, the unbanked, the overlooked.

More than a billion people just in the US are unbanked. Now imagine if these people gained the financial independence the traditional banking system denied them. It can offer financial independence to women who are not even allowed to open a bank account or are able to have some money without the control of others. How it includes everyone regardless of country, religion, color, or social status.

DAOs, DApps, DEXs, NFTs, is all based on this incredible technology that gained popularity a couple of years ago but has been used for over a decade, even by big institutions like governments and corporations.

Of course, blockchain technology and the broader Web3 space come with their own set of challenges and risks. I will let you do your own research (DYOR) on that.

Glossary Help :

DAO – Decentralized Autonomous Organization

DApps – Decentralized Applications

DEX – Decentralized exchanges

NFT – Non Fungible Token

What would you say to newbies?

Educate yourselves and become curious.

Do not believe everything you hear or read on social media – do your due diligence.

Always DYOR (Do Your Own Research) and do not FOMO (Fear Of Missing Out).

Explore, question, learn. The potential of Web3 is too significant to overlook!

What is one of your advice?

Going on a journey into the world of Web3 can feel like stepping into the unknown. Whether you decide to join the space, for investing, for the community or even for pure curiosity, the very first step you need to take is to educate yourself. It might feel overwhelming at first (it was definitely for me!) due to the endless information online. But do not be afraid, your journey can become easier with a few steps.

A book, that is still my go-to guide, is “The truth about crypto” – by Ric Edelman.

It’s easy to understand and explains the fundamentals, from blockchain technology to DAOs, DEXs and even regulatory, taxation, and compliance aspects. It’s a great starting point for anyone entering this ever-evolving ecosystem.

If you are not the book-kind of person then there is another approach you can take. Find a well-reviewed book on crypto, note its contents, and use them as a roadmap to guide your research online. This will give you a good framework and will help you focus on understanding the critical aspects of the ecosystem.

Last but not least, we need to remember that this is a rapidly changing environment and sometimes it can get really overwhelming with all the news and updates. If you find it difficult to catch up – do not get discouraged. Take a step back and get away from social media. You will miss some news. That’s fine. Believe me, next week you will have different news. The space can get really hectic. Let it be. You and your mental health come first.

What project or dapp do you follow?

Recently I started looking into Decentralized Exchanges (DEXs), like GMX.

With all the failures and regulations in Centralized Exchanges (CEXs) it’s only natural to explore DEXs. GMX has various trading and yield farming opportunities along with fast transactions and low fees. Of course, there are other DEXs like APEX, TraderJoe XYZ and many more.

Sharing is caring, more advices from Alchemical !

If you’re considering joining the world of Web3, I highly recommend finding events happening in your city and joining. It is important to meet and engage with people who share similar mindset. This way you will expand your knowledge and connections.

Sometimes you might feel the least experienced in the room (I know I have!) but believe me, that’s a good thing. You want to be in a room where you can learn from those who are more experienced and want to share their DO’s and DONT’s. The lessons you will hear from their successes and especially mistakes can save you a lot of time and unnecessary expenses.

So, start educating yourself, networking, and embracing the journey the world of Web3 has to offer!

Written by Lorena Billi

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