What an Institutional Account Manager at Coinbase Wishes They Had Known Before Entering the Cryptocurrency Industry
Mike, an Institutional Account Manager at Coinbase, found the varying levels of cryptocurrency knowledge among clients surprising, ranging from "really, really in the weeds" to knowing "almost nothing at all," unlike prior roles in foreign exchange where client expertise was more uniform. This highlights the nascent nature of the cryptocurrency industry and the unique challenges it presents for professionals entering the field.
Financial Technology, Client Management, Industry Knowledge, Cryptocurrency, Sales
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Mike Munyer
Institutional Account Manager
Coinbase
University of Maryland; 2012
UCLA MBA
English
Finance (Banking, Fintech, Investing), Technology
Sales and Client Management
Took Out Loans, Worked 20+ Hours in School
Video Highlights
1. The cryptocurrency industry is relatively new, so there are many unknowns.
2. Clients' knowledge of crypto varies widely, from very knowledgeable to almost none at all.
3. This role requires interacting with clients who have different levels of expertise in the field of cryptocurrency.
Transcript
What have you learned about this role that you wish someone would have told you before you entered the industry?
One thing that would have been helpful to know, I came in knowing there were many unknowns, given this is a very new industry. Our team essentially built the entire prime brokerage institutional offering at Coinbase; it didn't really exist.
What surprised me was the difference in clients' knowledge of crypto. Some clients were really in the weeds, knowing as much or more about crypto than some of the smartest people on our internal team.
Others knew almost nothing and had just heard it was something they should do and explore. That's something I found surprising, and definitely different than my old role. In my previous job, all companies doing foreign exchange had more or less the same amount of knowledge.