All authors
Toby Cunningham
CO-FOUNDER

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

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.

GUIDES

31 guides by Toby.

FundamentalsFundamentals

Market Update/Thoughts On Current Events

Toby Cunningham
FundamentalsFundamentals

Trade Alert 20th November 2025

Toby Cunningham
FundamentalsFundamentals

Market Update November 18 2025

Toby Cunningham
Reviews & SafetyReviews & Safety

Trezor 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 Cunningham
AnalysisAnalysis

Spot 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 Cunningham
AnalysisAnalysis

What 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 Cunningham
DeFiDeFi

A 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 Cunningham
AnalysisAnalysis

What 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 Cunningham
DeFiDeFi

What 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 Cunningham

EDITORIAL REVIEW

Reviewed by Toby