Mark Dukas

Mark Dukas Discusses Cryptocurrency, Business, and Expansion

in Opinion

Mark Dukas is an investor and a cryptocurrency expert. He graduated from the University of Massachusetts in 2004. Also, he holds an MBA degree from the Keller Graduate School of Management. One of his most notable endeavors was recognizing Bitcoin’s potential in 2014. He subsequently invested and was able to earn an unprecedented return on investment during 2017.

Now, he utilizes his knowledge to advise people and companies who want to participate in trading. Mark Dukas also works as an advisor on cybersecurity and helps businesses protect their information. Knowing the requirements to launch a successful cryptocurrency further aids him when making new investments.

What are some of the main costs to run your business?

Since trading is mostly based on online platforms, a lot of my expenses revolve around technology and intangible assets. Hardware expenses are my highest overhead and paying for licenses and software round out my biggest expenses. Not to forget the overhead costs like electricity, client meetings, travel and so on.

What are some of your day-to-day duties nowadays?

I do a lot of thinking that goes behind investing. For example, I complete some of the first-stage research that is necessary to gather data. Then, I delegate a portion of the project to others who look for ways to buy. Once I am as sure as can be that the investment will not be a loss, we purchase it. I also spend time meeting with current and prospective clients either virtually or face-to-face.

What type of marketing campaigns help your business the most?

We reach people through online marketing and word-of-mouth referrals. The latter helps us earn high-converting customers who we have to do little convincing with. After all, when someone suggests something to you, it is unlikely that you will feel skeptical about it. The online platforms, however, are mostly aiming at newcomers to the market. We reach people who might be on the verge of investing. Then, we help them take some of their first steps as they learn how to trade properly.

Are you changing your marketing approach as you expand into new markets?

Although I would not say we are changing it entirely, there are small tweaks we make as we go. For example, when we scale our marketing campaigns, we increase the size of our interest groups. That enables us to target a larger audience and increase conversions. It also makes it easier to reach more people who might be eligible to use our services.

How do you fight off the competition and new companies in your market?

By going above and beyond. If one of our competitors introduces an offer or software that we do not have, we immediately follow suit. Doing so enables us to stay current with all the updates that happen very frequently in this area. It also makes it possible to keep up with clients’ demands that are always changing.

Do you think you will remain in your current position for the foreseeable future?

I currently run BitcoinSmartMoney full time, but I have also accepted a position as an analyst at Bitcoin.live which is a subscription service with some of the best fundamental and technical analysts helping new people learn about crypto and trading. Peter Brandt is one of the best on the platform and its an honor to work alongside talent like him.

Would you ever consider expanding to the West Coast?

Absolutely! I mean, that is where the Silicon Valley is. For someone who does a lot with cryptocurrencies, states like California are perfect markets for expansion. So, as we continue growing our operations, I will look into westward movement of our company. Not doing it would be a mistake as there is a lot of potential waiting to be unlocked within that region.

Can you talk about one challenge that you faced in the last 12 months?

Recognizing the right Initial Coin Offering (ICO) to get behind is becoming more tricky. I realized there’s so many ICOs that it’s just better to stick with established already vetted coins. To much risk and chance of loss of funds with these projects. People are neglecting important steps and companies can launch their ventures without as much as a solid whitepaper. As a consequence, most of these digital coins do not make it far, and their value plummets soon after the launch.

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