Alchemy Crypto: Your Guide To Investing And Profiting

Alchemy is a blockchain platform that has recently attracted a lot of investors. It is not a blockchain itself, but a platform built on the blockchain that allows users to build their own blockchain apps. The company operates similarly to Amazon Web Services, with NFT markets operating off of Alchemy, just like companies like Netflix operate off of AWS. The company has recently raised $80 million in a Series B funding round, bringing its valuation to $500 million. If you want to invest in Alchemy, you can follow these steps:

1. Register on Coinbase or any other large crypto exchange that accepts fiat deposits.

2. Buy one of the major cryptocurrencies, usually either Bitcoin (BTC) or Ethereum (ETH).

3. Transfer your cryptos to an Altcoin Exchange like HotBit.

4. Deposit BTC to the exchange wallet by copying the unique public address of your Bitcoin wallet and using it to send funds from your Coinbase account.

5. Purchase ACH by selecting the BTC to altcoin pair and choosing ACH as the altcoin you want to buy with your BTC.

Alchemy is a blockchain-based developer platform

The company operates similarly to Amazon Web Services (AWS), providing the infrastructure for companies like Netflix to operate. Likewise, Alchemy provides the underlying infrastructure for blockchain companies and blockchain-building platforms, including NFT markets.

Alchemy offers a range of tools, APIs, SDKs, and enhanced monitoring systems to help developers build and scale their web3 apps. Its Account Abstraction SDK, for example, simplifies account abstraction development. Alchemy also provides powerful write APIs for every use case, allowing developers to make wallets invisible and create simple, non-custodial accounts for user onboarding and transactions.

Alchemy has powered well-known blockchain applications such as Dapper Labs, CryptoKitties, NBA Top Shot, and the largest NFT marketplace, OpenSea. The company has experienced significant growth, with a 97-fold increase in its user base over eight months and over $30 billion in powered transactions.

To invest in Alchemy, individuals can purchase its coins (ACH) through crypto exchanges. While ACH cannot be directly purchased with fiat money, it can be acquired by first purchasing a major cryptocurrency like Bitcoin (BTC) or Ethereum (ETH) from a large exchange like Coinbase and then transferring it to an altcoin exchange that offers ACH trading, such as HotBit.

It helps companies build decentralised applications

Alchemy is a web3 developer platform that helps companies build decentralised applications. It is not a blockchain but a platform built on the blockchain that allows users to build their own blockchain apps.

Alchemy replaces the nodes that businesses use to read and write blockchains with a faster, more scalable decentralised architecture. It also provides tools for analytics, monitoring, alerting, logging, and debugging for cryptocurrency-connected software. This lets it separate different types of data into special data stores for faster and more reliable access. The result is that it's easier to build apps on Bitcoin, Ethereum, and other coins with fewer engineering resources.

Alchemy's comprehensive developer platform includes infrastructure and tooling, enhanced APIs, and monitoring systems. It offers a range of tools for managing decentralised apps, including analytics for tracking usage, monitoring performance and availability, alerting teams when things break, logging for tracing back errors, and debugging for getting apps running again.

Alchemy also simplifies account abstraction development, allowing companies to create simple, non-custodial accounts to onboard users and transact with web2 UX. It also offers an all-in-one hybrid fiat and crypto payments system for businesses, leveraging smart contracts to automate reconciliation and settlement processes to minimise human errors and eradicate fraud.

It is not a blockchain itself

When it comes to investing in crypto, it is important to understand the underlying blockchain technology and the various platforms and exchanges that are involved. Alchemy, despite its name, is not a blockchain itself but rather a platform built on blockchain technology. This distinction is important as it shapes how investors can interact with and use the platform.

Alchemy is a developer-centric platform that provides the tools and infrastructure for building, scaling, and deploying blockchain solutions. It acts as a foundational layer, simplifying the complex processes involved in blockchain development and making it more accessible to beginners and seasoned developers alike. By offering a user-friendly interface and comprehensive Ethereum and Web3 development support, Alchemy has attracted a wide range of investors.

The platform's integration with Ethereum is a significant aspect of its offerings. For developers building on the Ethereum platform, Alchemy provides enhanced access and sophisticated tools for monitoring, debugging, and analytics specific to Ethereum-based applications. This integration plays a crucial role in the development and operation of blockchain applications, particularly decentralized applications (dApps).

Alchemy's role in the blockchain and Web3 space is often likened to Amazon Web Services (AWS). Just as AWS provides the infrastructure for companies like Netflix to operate, Alchemy is the underlying platform that powers NFT markets and other blockchain applications. This comparison is further supported by the fact that Alchemy has powered billions of dollars in transactions for millions of users worldwide, including major NFT platforms like OpenSea.

Alchemy's unique position as an infrastructure provider in the blockchain space has led to a successful series B funding round, attracting high-profile investors and celebrities. The platform's user base has grown exponentially, and it continues to play a pivotal role in powering blockchain and Web3 development.

It has raised $80 million in funding

Alchemy, a blockchain developer platform, raised $80 million in a Series B funding round in April 2021. The funding was led by Coatue and Addition, Lee Fixel's new fund, bringing the total amount raised by the company to $95.5 million since its launch in 2017. The Series B funding round attracted a mix of high-profile investors, including celebrities like rapper Jay-Z, actor Jared Leto, and electronic music group The Chainsmokers.

The $80 million funding round highlighted the increasing investor interest in blockchain technology and the potential of Alchemy's platform. Alchemy's goal is to be the starting point for developers looking to build products and applications on blockchain technology. By providing the necessary tools and infrastructure, Alchemy aims to streamline the development process and reduce costs for blockchain applications.

The funding has helped Alchemy expand its developer platform, supporting new blockchains and fuelling global expansion. The company has also used the funds to open new offices in the US and internationally, with plans to continue growing its team.

Alchemy's platform has seen significant adoption, powering over $30 billion in transactions for tens of millions of users worldwide. The company has quickly become the technology behind major NFT platforms, including OpenSea, CryptoPunks, and MakersPlace, solidifying its position as a key player in the blockchain industry.

It has powered over $30 billion in transactions

Alchemy is a blockchain platform that allows users to build their own blockchain apps. It has been used by NFT markets such as Dapper Labs, which is behind NFT offerings like NBA Top Shot and CryptoKitties, and OpenSea, the largest NFT marketplace in the industry.

Alchemy has seen its user base grow 97 times in the past eight months, and it has powered over $30 billion in transactions. This is a massive amount of money, and it shows that Alchemy is a popular and trusted platform for facilitating crypto transactions.

To put this into perspective, the total cryptocurrency market cap was $2 trillion at the end of 2021, and it had halved to $1 trillion nine months later. So, Alchemy has powered transactions worth a significant proportion of the total cryptocurrency market cap.

Alchemy's success in powering such a large volume of transactions can be attributed to its user-friendly platform and its ability to streamline the crypto and NFT trade. It has also attracted a variety of investors, including Charles Schwab, ex-Yahoo CEO Jerry Yang, Coinbase, and celebrities like rapper Jay-Z and the electronic music group The Chainsmokers.

Frequently asked questions