

Toby Cunningham
Toby Cunningham is co-founder of Learning Crypto. He has been in crypto since 2012 and co-hosts the Crypto Tips YouTube channel, which he and Heidi Chakos started in 2016.
- In crypto since 2012
- Billabong XXL Biggest Paddle (2003)
- Netflix’s Magnetic · Nazaré
ABOUT
About Toby
Toby Cunningham is co-founder of Learning Crypto and has been in crypto since 2012 — trading and holding through every cycle since. He co-hosts the Crypto Tips YouTube channel, which he and Heidi Chakos started in 2016 and which has grown past 200,000 subscribers. He writes the site's market-structure and on-chain analysis: Bitcoin cycle indicators, ETF flows, DeFi mechanics and the discipline of sizing risk. Together they also host the Permissionless Podcast.
Before crypto, Toby was a professional big-wave surfer. In 2003 he won the first Billabong XXL Biggest Paddle award for a 56-foot wave at Todos Santos, Mexico, then the world record for a wave caught without a tow. He lives in Nazaré, Portugal, where he still surfs and drives jet-ski safety on the largest waves in the world, and he appears in the Netflix documentary Magnetic (2018). His February 2019 five-wave hold-down at Nazaré was covered by Surfer, The Inertia and SurferToday.
That background shapes how he writes about markets: respect the downside, ignore the hype, and never confuse a good outcome with a good decision. Originally from San Diego, Toby has been trading and holding Bitcoin through every cycle since 2012.
ALSO BY TOBY
Books, press & profiles
- Billabong XXL Biggest Paddle2003 · world record paddle-in↗
- Magnetic (Netflix)2018 · Nazaré↗
- World Surf LeagueAthlete profile↗
- Nazaré hold-down2019 press coverage↗
- Permissionless PodcastWith Heidi Chakos↗
- Crypto TipsYouTube · since 2016↗
Toby holds Bitcoin in self-custody and does not take payment for coverage or rankings. Affiliate links are marked where used. This author page was last reviewed on 17 September 2026. Full disclaimer.
31 guides by Toby.
Market Update/Thoughts On Current Events
Toby CunninghamFundamentalsFundamentalsTrade Alert 20th November 2025
Toby CunninghamFundamentalsFundamentalsMarket Update November 18 2025
Toby CunninghamReviews & SafetyReviews & SafetyTrezor Safe 7 Review - Is It Worth It?
The Trezor Safe 7 is worth it for most people: it is Trezor's most complete hardware wallet yet, pairing the TROPIC01 chip, the first auditable secure element, with a dual secure element design, a 2.5-inch touchscreen, and Bluetooth 5.1 or USB-C. Bluetooth can be disabled for air-gapped use, though purists who want absolute isolation may still prefer a fully offline device.
Toby CunninghamAnalysis
AnalysisSpot Trading in Crypto: What It Is and How It Works
Spot trading in crypto is buying and selling cryptocurrency for immediate delivery at the current market price, using only your own money. You own the actual coins, there is no expiry date, and you cannot lose more than you put in, which makes it the safest way to trade actively. Trades match through an exchange order book using market, limit, stop or take-profit orders.
Toby CunninghamAnalysis
AnalysisWhat Is a Long Position in Crypto Trading?
A long position in crypto means buying a cryptocurrency because you expect its price to rise; you profit if it climbs and lose if it falls. A spot long uses only your own money and caps your loss at what you invested. A leveraged long borrows from an exchange to multiply the position, from 2x to 100x, which multiplies losses and risks liquidation.
Toby CunninghamDeFi
DeFiA Complete Guide to Crypto Margin Trading
Crypto margin trading is borrowing money from an exchange, with your own crypto as collateral, to buy more cryptocurrency than your balance allows, typically at 2x to 5x. You own what you buy but owe the loan plus interest, and if collateral falls below the maintenance margin you face a margin call or liquidation. Interest can hit 1 to 2% per day.
Toby CunninghamAnalysis
AnalysisWhat Is Leverage Trading in Crypto? Pros, Cons, and How It Works
Leverage trading in crypto means borrowing from an exchange to control a position larger than your deposit, from 2x to 100x. Gains and losses are multiplied equally: at 10x a 5% move earns or costs half your margin, and a 10% drop liquidates the whole position. Funding fees accrue every 8 hours. For most beginners it is a fast route to zero.
Toby CunninghamDeFi
DeFiWhat Is Yield Farming in Crypto? A Complete Beginner’s Guide
Yield farming is depositing crypto into DeFi protocols to earn trading fees, lending interest and token rewards. Established pools on Aave, Curve or Uniswap typically pay 3% to 20% APY; anything far higher usually signals unsustainable tokenomics. The main risks are impermanent loss, smart contract exploits and locked liquidity, and there is no deposit insurance. Beginners should start small with a stablecoin pair.
14 min read/Toby CunninghamEDITORIAL REVIEW
Reviewed by Toby
- Crypto Scams on Telegram: How to Spot a Fake Channel, Admin or Bot
- How to Legally Reduce Your Crypto Taxes: What We Did and What Actually Works in 2026
- Second Citizenship by Investment for Crypto Holders: What It Costs in 2026 and What We Learned Doing It
- Portugal Residency and Crypto Taxes in 2026: What Changed and What We've Learned Living Here
- Is Crypto.com Safe? Licences, Hacks, Complaints and the CRO Decision, Reviewed for 2026
- Lost or Stolen Hardware Wallet, or the Maker Goes Bust: What Happens to Your Crypto
- Ledger Recover Explained: How It Works and Why We Don't Use It
- How to Learn Crypto: A Free, Step-by-Step Curriculum