Jared Devloo is a cryptocurrency expert based out of Calgary, Alberta in Canada.
From an early age, Jared was fascinated by digital technology. In high school, he displayed a preternatural knowledge of computer programming, something that did not go unnoticed by the school’s department head of Computer Studies, who, sensing great talent, took Jared under his wing and taught him many advanced programming techniques outside the approved curriculum. This mentorship benefited Jared greatly by giving him a leg up with virtually all things pertaining to computer engineering and programming, and he credits this teacher for much of his later success, maintaining a positive relationship with him even to this day. On the strength of a glowing recommendation letter from that same teacher, Jared was accepted by a prestigious post-secondary institution to study Computer Science.
After graduating from university after four long years of intense study, Jared Devloo entered the professional world, first as an entry-level computer coder for a well-known software firm, but later shifting his concentration to cyber security in the early years of the new millennium. However, after about 18 months in that field, Jared grew listless and bored with his work.
In the mid 2000s, he began investigating what was then the brand new technologies of cryptocurrency and blockchain. The more Jared learned about these cutting-edge digital techs, the more he became intrigued and enamored by them. In 2007, he took a great risk and invested his life savings in these burgeoning technologies and shifted his focus full-time to aid in their development.
Ever since then, Jared Devloo has been a heavy investor in cryptocurrency, as well as an advocate for it as an alternative to traditional currencies—even before the inception and launch of Bitcoin. For more than a decade, Jared has worked on developing other digital currencies, and conducted digital transactions through online gaming and gambling, operating on the cutting edge of the crypto and decentralized finance (DeFi) industries. Now independently wealthy from his efforts, Jared Devloo continues to display a knack for discovering undervalued assets within the digital space.
In his spare time, Jared Devloo enjoys traveling, playing video games, reading and watching science fiction, and spending time with friends and family.
Where did the idea for your career come from?
I stumbled upon cryptocurrency and blockchain tech in its developmental stages while I was surfing the internet one day in the mid 2000s, and it interested me immensely, to say the least. The more I researched it, the more I became convinced that it was the wave of the future. I quit my day job not long after that and committed my life savings, my abilities, and my energy to investing in and further developing crypto and blockchain from that point on.
What does your typical day look like and how do you make it productive?
As a professional investor and cryptocurrency expert, I mostly work from home. After I wake up, I eat breakfast and glance at the news, noting anything that might affect the markets. Then I settle in at my computer and have a look at how my portfolio’s doing. I might conduct some research, as well. If I have a special line on anything interesting, I might make a purchase. Other than that, I always make sure to stretch, exercise, and check in with my family and friends.
There are also times when I’m asked to act as a consultant for corporations or colleges. I enjoy that, as it gets me out of the house and interacting with new people.
How do you bring ideas to life?
Research is key, in this respect. Without a firm foundation of knowledge, ideas are simply ethereal concepts, passing fancies, and ‘what if?’ scenarios. It is only by conducting thorough research that you come to discover if an idea is feasible, and only then can you make it into a reality.
What’s one trend that excites you?
The adoption of crypto and blockchain tech by mainstream corporations and the general public is very exciting. Frankly, it’s been a long time coming, but I’m glad to see that it’s finally taking place on a large scale. Cryptocurrency is the future of finance, and blockchain technology is the future of digital authentication and security. It’s undeniable, at this point.
What is one habit of yours that makes you more productive as an entrepreneur?
As much as it pains me to admit, whenever I find myself in a professional setting, such as an office, a lecture hall, or a board room, I make sure to dress accordingly. Although I don’t like doing it, I have found that people treat you significantly differently depending on what you wear.
What advice would you give your younger self?
I would tell my younger self to be more adventurous and outgoing in general, and to ask a certain person who shall remain nameless to my high school’s Winter Formal Dance specifically.
Tell us something that’s true that almost nobody agrees with you on.
Until green technology, such as geothermal, wind, and solar becomes more cheap and plentiful, I believe that nuclear power is the best and safest way to generate electricity. We should build more nuclear plants. Not very many people agree with me on that issue.
As an entrepreneur, what is the one thing you do over and over and recommend everyone else do?
Invest with an eye toward the future rather than the present or past. There is vast wealth to be made by investing in forward-looking financial instruments such as cryptocurrencies, as well companies that are developing the technologies that will bring the human race into its next stage of development. Imagine getting in on the ground floor by investing in aerospace companies in the 1920s, or snapping up a block of shares in IBM in the 1940s, or Apple in the 1980s! Investing in blockchain and crypto right now is tantamount to the same thing.
What is one strategy that has helped you grow your business?
Regarding crypto investment, I avoid the so-called ‘pump and dump’ strategy like the plague. I think it’s incredibly dangerous and irresponsible.
What is one failure you had as an entrepreneur, and how did you overcome it?
Cryptocurrency is notorious for its radical swings in value. Even today, speculating in crypto is not for the faint of heart; it is extremely volatile. So, although the long-term trend is upward, there are days when my portfolio loses a lot of its value—sometimes up to 30-40%. The only way to deal with that is to hang tight and hold on, keeping faith that it will regain its losses and ultimately increase in value. That strategy has always paid off for me so far, and I believe it will continue to do so.
What is one business idea that you’re willing to give away to our readers?
If someone has the means, I think it would be a great business idea to start a venture capital firm concentrating on funding startups developing future tech.
What is the best $100 you recently spent? What and why?
I recently bought an expensive pillow. It cost a lot more than an average pillow because it’s form-fitting and designed to encourage a better night’s sleep. Darned if it doesn’t work, though. I’ve been sleeping like a baby since I bought it.
What is one piece of software or a web service that helps you be productive?
Although I use all sorts of technology, I suppose the one thing that I’m most dependent on are the online crypto exchanges, as that’s how I make the bulk of my money.
What is the one book that you recommend our community should read and why?
I recommend Blockchain Bubble or Revolution: The Present and Future of Blockchain and Cryptocurrencies by Neel Mehta and Aditya Agashe. It is an engaging and prophetic work.
What is your favorite quote?
“Learning how cryptocurrency works is like learning a new language. It is incredibly difficult at the beginning, but once it clicks it will stick with you forever.” ― Olawale Daniel
- Whenever in a professional setting, always dress accordingly.
- Although green technology will likely save the human race, in the interim, nuclear power is our best option for power generation.
- Always invest with an eye to the future.
- Hold on to your portfolio of investments for the long-term. Short-term speculation is for amateurs and those without fortitude.
Steve (Stefan) Junge hails from Germany and helps with the day-to-day publishing of interviews on IdeaMensch. While he and Mario don’t share a favorite soccer club, their enthusiasm to help entrepreneurs is a shared passion.