1. Hello Granit, could you please introduce yourself to our readers and inform them about what you do?
I am an influencer and the founder of Crypto Academy, one of the biggest crypto marketing agencies worldwide. I have been operating in the crypto sphere for more than 8 years but it was in 2016 when I decided to open a marketing agency dedicated only to crypto brands. I have also created my own Telegram group called “Granit Academy – X100 Reviews” where I constantly review numerous projects in the crypto world. I have completed my master’s degree in marketing at the University of Sheffield and I have ample experience in traditional and digital marketing alike, so I thought why not explore digital marketing in the most unpredictable industry in the world? It has been bumpy and smooth by equal measure, but it is one of the most exciting sectors to be in right now.
2. Why cryptocurrencies; why the most unpredictable industry in the world?
I have always had a passion for trying new things and challenging myself in unpredictable situations. I have been an individual trader and investor of cryptocurrencies since 2013, and upon carrying out my activities I started thinking about future crypto projects and how people need to be informed and educated about how the industry works and why this will be a big part of this new digital revolution. As I was already studying digital marketing, I decided to found Crypto Academy, our Crypto Marketing agency and Educational platform where users can be informed about the inner workings of the industry, the newest crypto projects, and even advance their startups through the 30+ services that our team offers. I have also founded Granit Academy, the company through which I analyze the best performing crypto projects and provide promotional services via Twitter, Instagram, and Telegram.
I am a firm believer in the power of cryptocurrencies, the financial freedom that they give to the average person in this world, and the potential of changing financial operations as we know them. The beauty of the crypto space is that it is certainly not limited to financial operations and services only. From art, to crowdfunding, to the metaverse, the possibilities are quite literally endless. All we have to do is learn how to tap into it and get the most out of it.
3. Many cryptocurrencies come and go, why do you think that is?
I think the most important aspect that people should keep in mind when pondering on this question is the difference between the failure of certain cryptocurrencies and related projects as opposed to the failure of the cryptocurrency industry, and subsequently blockchain technology, although the latter has unfathomable potential. To put it simply, the world is divided between crypto believers and supporters and the other camp which do not believe in the future of cryptocurrencies. While it is no surprise that crypto projects and tokens fail every day, that is merely the risk of startups just like in the traditional sense of entrepreneurial risks. Some of the reasons for these failures can be the lack of proper funds to start off strong, the information clutter from all kinds of cryptocurrencies that are being launched daily, and an overall poor market penetration strategy which is of huge importance in a competitive and unpredictable market. Many a cryptocurrency have failed and they will continue to fail, but there are those that have succeeded, are going strong, and have already taken the world by storm. As for the industry as a whole, it does not exist in a vacuum, and it will most certainly not fail. Blockchain and crypto are here to stay.
4. We all know cryptocurrencies are often associated with illicit/illegal activities; what’s your view on this subject?
Much like in any industry, every new invention and disruptive step is a double edged sword. Come to think of it, coding was invented to help the world, to make people’s lives easier and to spearhead globalization in the digital world. While coding is arguably the most important skill one could have, it can be used to advance illicit activities in the dark web, hack people’s personal data, not to mention breaching the firewalls of military and security agencies. Surely, illicit activities are carried out through the crypto space, just like in every industry. However, decentralization does not necessarily make it easier for people to get away with it. A number of global institutions have recognized the benefits of blockchain and cryptocurrencies as tracking mechanisms for money laundering, terrorism financing and other related crimes. What most people misunderstand about blockchain is that it is a pseudonymous technology as opposed to an anonymous one. The most recent demonstration of the difficulty of carrying out illegal activities in crypto is the Russia-Ukraine war. This marks the first war in which cryptocurrencies were a focal point as the world was worried that Russia would be able to circumvent Western sanctions through cryptocurrencies. However, it was not as easy to use blockchain for these types of activities as decentralized exchanges are more risky in the sense that there is nobody who can account for losses if encountered, and the mobilization of central exchanges made it harder for certain people to get away with funneling money through blockchain.
5. Just how volatile do you consider the cryptocurrency market?
The crypto market is ruled by investor and participant sentiment, same as in other financial markets. It is easier to speculate on decentralized digital currencies, which make cryptocurrencies more volatile than other traditional assets. Trading Browser claims that Digital assets such as Bitcoin and Ethereum are appealing to investors because they have this heightened volatility and they are definitely right about this. Gains are phenomenal and losses are devastating, but it is a perfect landscape for risk-seeking investors to put their money in. Some investors tend to triage by diversifying their portfolio, which is also another preferred method of engaging in cryptocurrency investing without bearing all the risks associated with market volatility.
6. What crypto-related projects do you think are likely to succeed?
At the time being, I think that people are looking for innovative ways to invest their money, but they are also putting a premium on security and passive income. As such, cryptocurrency projects with P2E aspects, NFTs, and other reward based activities are more in demand.
7. How much exposure do you believe cryptocurrencies have in the upcoming recession?
Cryptocurrencies, much as they are innovative and exciting, do not operate in a vacuum. The capabilities of an investor to invest their money is directly related to the economic performance of financial markets, FX, and the global economic performance. Since the world has had a hard time recovering from the COVID-19 recession and another one waiting to hit as a result of the Russia-Ukraine crisis, the cryptocurrency industry will also be affected. Nonetheless, once inflation is curbed by central banks across the globe and prices come to a stability, the cryptocurrency industry is expected to rise accordingly.
8. How far along do you think we are in the crypto adoption?
Crypto adoption is making significant strides, and we expect it to go even further. Binance is an example of an influential player in the industry that is pushing for adoption by expanding operations as a licensed central exchange and educating users and youngsters on the industry. I believe that influencers in the community have a key role to play in the adoption of cryptocurrencies, but this also depends on the stance of different states regarding crypto, and whether regulators are working to pave the way for crypto adoption.
9. How do you think regulation relates to mass crypto adoption?
Financial regulators all around the world are concerned with user protection in a decentralized space among other worries that they have exhibited in the decade of the emergence of cryptocurrencies. Regulation is important because it paves the way for adoption of cryptocurrencies. If there is no consensus among regulators and banks on the taxing and validity of cryptocurrencies, users will have no way to run a smooth and legitimate crypto enterprise if the scrutiny is related to a lack of faith in the industry overall.
I argue that the world has failed to keep up with the development of cryptocurrencies, seeing as there is virtually no government in the world that has figured out how to categorize cryptocurrencies, and that is a problem because there is legal action in place which has devastated some of the most prominent central exchanges in the world due to the indecision of governments to label certain cryptocurrencies as securities, commodities, or any other type of financial instrument. As such, I would posit that much like the meetings and symposiums regarding interest rate hikes for fighting inflation, central banks, financial institutions and regulatory bodies across the world ought to come together and start working on the proper regulations of the crypto industry. Otherwise, the industry will move on with an even faster pace and the world governments will be left wondering how to go about this.
10. Do you think that institutional adoption is increasing?
Many companies such as MicroStrategy have decided to hold cryptocurrencies and disclose them in their balance sheets. Institutional adoption is increasing immensely, which is a stepping stone for blockchain and cryptocurrencies. A validation of such significance is a major step forward in solidifying the importance of the industry but also adoption and a more widespread use case for both blockchain and crypto.
11. Do you think that Crypto will cause further advancements in day-to-day technology?
The more cryptocurrency is adopted by the general public, the more solutions will the community try to come up with to ease operations for people. As such, adoption of blockchain and crypto will surely lead to innovative ideas that will prompt advancements in technology.
12. What do you you think is the view of big banks and institutions on cryptocurrencies?
There are dividing opinions among the global financial institutions on cryptocurrencies. I will say that the most optimistic financial institution is the World Bank, since it has issued many recommendations and opinionated pieces, praising the potential of blockchain for increasing transparency and accountability in many fields, given the novelty of the technology itself. It would be interesting to see international support to fight corruption via cryptocurrencies and blockchain. The International Monetary Fund (IMF) has a more apprehensive stance towards cryptocurrencies, particularly concerning their volatility, decentralization, and supposedly their unremarkable performance when it comes to volatility adjustment. The European Central Bank (ECB) is neither here nor there, trying to weigh the pros and cons of blockchain technology and cryptocurrencies. The US is actively trying to regulate space, but as of right now with no clear mission or regulative framework in mind. A number of central banks have started adopting their own central bank digital currencies (CBDCs).
All in all, I would say that financial institutions are apprehensive, yet cautiously optimistic of the regulation, use cases and adoption of blockchain and cryptocurrencies.
13. How do you think the Metaverse will affect cryptocurrencies?
The Metaverse has grown increasingly significant after Facebook decided to be rebranded as Meta in preparation of the metaverse. The most crucial factor is that all of the money used in the Metaverse is entirely digital, mostly in the form of cryptocurrencies. This resulted in a rise in the price of cryptocurrency tokens and NFTs. Items that are non fungible are distinct and unreplaceable. For instance, following the day of the Meta announcement, the price of MANA increased by roughly 5 times. During this time, Axie Infinity saw a significant growth in the selling of their native cryptocurrencies.
People are encouraged to purchase NFTs, crypto, and other digital assets because payments in the Metaverse can only be made using digital currencies. As a result, in a sense, the Metaverse has expanded the market for cryptocurrencies, and as long as it keeps expanding, the demand for cryptocurrencies will rise substantially.
14. How will the current status of the cryptocurrency market change?
Markets crashing and getting back up is nothing more than a natural cycle of the behavior of any market, granted the cryptocurrency market is much more volatile and unpredictable in comparison. Nonetheless, the global economic performance is intertwined with almost every existing field, and the crypto ecosystem is not an exception. I would say that things will start looking up by Q2 of 2023 at the earliest, but this is an educated guess rather than an accurate estimate so I guess we will just have to see what’s next.
15. Do you consider yourself to be an aspiring entrepreneur in an unpredictable and volatile environment?
Being an entrepreneur and a potential visionary with new and exciting ideas can still be scary in the beginning. To be honest, there are a lot of great ideas out there that sometimes simply just don’t take off as projected. Some of them have to do with the execution of the project, speed, and as always, the right marketing strategy tailored to the target market and the purpose of the startup. Startups are difficult even in stable and centralized emerging technologies, and the crypto space makes it seem even more so. It sure is difficult to prevail among tens of thousands of projects but dedication, hard work, and a proper strategic plan can give any project a competitive edge and propel them ahead.
A Bonus Q&A – What is your advice for crypto entrepreneurs, traders and investors out there?
If you have an idea that you think users would like and would find it as a solution to whatever case they’re trying to solve, then go for it. The competition is off the charts, and there are risks, but if you feel that your idea is what people are looking for then it is all worth it. I have 3 businesses of my own that I have built from scratch in this market, and all the hard work paid off in the end, and then some.
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