Dani Amsalem is an entrepreneur and a self-professed fan of fan of cryptocurrencies and blockchain technology. He’s the founder of Decryptionary, an online dictionary that makes the subject of cryptocurrency and blockchain understandable.
What do you do? What’s a day in your life like?
My day job is operating and expanding an eCommerce agency. We help online brands grow. But my moonlight job, my Batman gig if you will, is running decryptionary.com. It’s the simplest crypto dictionary and beginner’s guide.
My day job extends often far into the night, but whenever I can get a chance to fight crime—er—confusions around crypto I’m there. I like to share explanations and posts on Reddit. I like to create new walkthroughs on Decryptionary. And lately, I really enjoy recording podcasts for Matthew at Crypto101!
What path did you take to get started?
I bought my first crypto in spring of 2017. I had read some article about a pizza that was purchased using bitcoin that was now worth millions of dollars. That reminded me of when I first learned about bitcoin in 2011 and saw it at priced at a few dollars. I knew that I was missing something so I plopped down a few hundred dollars. A couple of months later, a friend told me to check up on my investment, that it had really spiked. I was blown away when I found my investment had 5Xed in value.
But I had to figure out what I made money on. So I began researching and realized that this was some strange new world. Crypto had its own language and its own culture—HODL!
The more I dug in, the deeper the rabbit hole went. I saw that there was much confusion around terms and no one really had a simple explanation of things for beginners like me. And so, Decryptionary was born.
What is your background?
I have a degree in business administration. One major thing I got out of that was that I am obsessed with making complex things simple. And with systematizing anything that can have a system added to it.
In my early 20’s, I ran a call center based in the Philippines. Training them to repetitively and systematically get something done the same way every time was one heckuva challenge. I created over thirty standard operating procedures and accompanying scripts. That experience helped me learn the value of systems.
Now I’m bringing that obsession for simplifying things and my experience in simplifying things to crypto. My purpose with Decryptionary is, “Crypto made simple!”
What has been a success within your business and alternatively, a failure?
My biggest success was realizing there was an opportunity here and just doing it. In 2-3 weeks I created a dictionary with 200+ entries. I posted it on the Litecoin subreddit and it went viral, netting me nearly 15,000 visitors in 24 hours and almost crashing my website.
My biggest failure has been trying to create a video course. I just can’t seem to face that task. Having a paid video course would inspire me to drive traffic and really expand Decryptionary. But I get scared because, in addition to being obsessed with simplicity, I’m also a perfectionist…
So I’ve been focusing on my crazy day job that I love. Someone help me!
What resources would you recommend for others looking to do something similar?
I highly recommend the Crypto101 Podcast. Even before I got on, Matthew had been pounding out some incredibly valuable content for beginners. He really delivers a lot of value to his listeners.
“My biggest success was realizing there was an opportunity here and just doing it.”
Do you have any tips or insight to share with someone looking to get started?
Hmm…advice? I don’t know that I’m anyone to give advice on building something like Decryptionary since it is still just the beginning (having launched in November 2017).
If you want crypto advice, my best tips are in Decryptionary.
Seek out opportunities.
Just go for it.