How she went from programming to running a crypto exchange

Xdite Cheng, CEO of OTCBTC

This article is part of Tech in Asia’s partnership with Bitcoin.com where we publish the revised transcripts from their podcasts. This is heavily revised from the show’s original transcript. For the full episode, go here.

Xdite Cheng, dubbed “the renaissance woman of the crypto age,” is the CEO of OTCBTC, an over-the-counter crypto exchange based in Taiwan. She bought her first bitcoin in 2016 and helped build a large ICO platform in China (which was later shut down by the Chinese government).

Aside from that, Cheng is also a world-class hackathon winner, a full stack developer coach, and the founder of a Ruby on Rails institute in China and Taiwan, among other things.

Here’s her amazing story.

What was your childhood like?

I was born in a very typical family. My father was a businessman and my mother was a worker. When I was very young, my father used to buy me computers, and that’s how my interest in computer games and, eventually, programming started.

I started coding when I was 15 or 16 years old, in languages such as C, PSD, Linux, and BSP. The first thing I built was a small game, like a crossword puzzle, in C.

In college, I studied applied math, and one of my teachers recognized that I was very good with computers. So, they put me in charge of managing the computers in our department, helping build the website, and providing assistance.

When I graduated, my teacher asked me if I could stay to be an administrator of the computer department. So, I did that for three years because I had nothing to do and I didn’t know where to find a job.

But I quickly became tired because the role was no longer challenging. That’s when I taught myself Ruby on Rails. I found building stuff using this language fascinating, so I quit my job and became a Ruby on Rails developer.

When did you start your first business and why did you choose to become an entrepreneur?

I realized that my industry in Taiwan was so small and that there weren’t a lot of opportunities for a Ruby on Rails developer. I decided to start my own journey so I could also learn other things like business and communication skills.

When I turned 29, I built my first business called Logdown, which was an online markdown portfolio. However, our income was limited, so I started another business, which was a website consultancy company.

Then in 2015, some people asked me if I could open a little place where I could teach people about Ruby on Rails. I thought it was fine because I also needed some money to start my new software business. I didn’t think, though, that it would become very popular (I had over 200 developers attending my class in one year).

When did you discover bitcoin?

In 2016, I started teaching in China where my students told me about bitcoin. It seemed interesting so I bought some from a platform called Yumpi. Then, I wanted to become a miner, so I built a mining operation with just 20 machines.

What were your next steps?

Did you raise money for OTCBTC?

There’s not too many women running crypto exchanges. Do you ever find it difficult?

Where do you want to be in 2020?