By Lucas Williams
Reddit has become an essential resource for beginners looking to make it into the crypto scene. The community has managed to become the biggest resource for getting information about cryptocurrencies. And it should come as no surprise that Matthew Tweed is also a fellow Redditor trying to make it big in the crypto world.
The 20-year-old high school graduate is working as a one-man operation making markets in Bitcoin derivatives. Working out of his family home in Surrey, England, he was able to learn how to create market-making systems at reduced latency. More surprisingly, he was able to learn his skills, which have managed to make him a self-employed freelancer, from a stranger on Reddit.
These Bitcoin derivatives that Tweed is chasing connect to two major exchanges and most of the hedge fund pros. He has been very clear about his intentions with this market and his latest endeavor. He plans on making it big in the crypto market before major players make their way into the market. More specifically, institutional players will soon enter the industry, making it hard for smaller players to make more money.
Tweed also talked about the operation that he is working on. He was specific to mention the fact that his business plan would not be possible in highly regulated markets like stocks. In these very liquid markets, professionals can make it almost impossible for others to take advantage of the market. Their High tech setup gives them a significant edge over anyone else that does not have the same tools as them.
He went into detail about how lucrative the industry is right now in its current state. He said that the multitude of trading opportunities in the industry helps his returns grow. Over time, he said that he can reasonably expect a return of 100% with how the market is going right now.
Tweed is an active low-latency market maker. Therefore, he is a small player in a very big industry. Trading firms like Tower Research and Jump Training came to the industry not too long ago. However, they have been able to make big plays in the industry, attracting the eyes of some major companies like Goldman Sachs and Jane Street.
Regardless, crypto trading still remains decentralized and relatively easy to access for everyone. These exchanges are also free, putting them in range of amateurs who learned about it on Reddit. They are able to go about their small-scale trading with relative ease. They don’t have to rely on strange engineering wizardry or advanced math to trade on the market.
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A 20 year old making his own way into the market is what I needed to read today. We need more young minds in these markets. They have the potential to change the systems for the better.
He should not be completely dependent on cryptocurrencies. I don’t find them completely trustworthy. They are digital assets and extremely unpredictable and can fall in value at anytime.
That’s right. Reddit is a good platform if you want to get information about cryptocurrencies. I personally find it more helpful than any other sources