Just can't get my eyes off my wallet. - page 2.

CryptopreneurBrainboss

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Quote from: Fiatless on December 17, 2022, 08:39:23 PM

I want to know if there is an average number of times a new investor should check his wallet and how can I change my behavior if it is abnormal. Thank you in advance for your helpful responses.

Funny I just had to go check my portfolio after reading you words. This I haven't done in some months now after the Luna first crash which I went to verify if I invested in that project so I can get rid of it before further casualties. What you're experience isn't odds as many investors suffer same fate. Infact many of us had similar experience when we first started investing in the space, I think with time you'll know to handle it but you can try to program yourself not to get obsessed with price volatility by remembering, in future things will always be green and program your mindset for long term price goals (not short term).

You can try deleting any of the apps that has to do with price update on the market and your wallets as well. Keep your private key and other vital information needed to access your wallet in safe location before deleting the apps and stay of crypto news. We're in a bear market so the price will always be negative until we go pass this stage, keep that in mind and look for other activities to keep you occupied while we wait for this season to end.

Baofeng

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Quote from: Fiatless on December 17, 2022, 08:39:23 PM

I am a new Bitcoin holder because I recently decided to terminate a bank standing order that transfers some of my extra earnings to a special account. I wanted to save this money for future use. But I recently decided to stop these savings and use the money to buy Bitcoin no matter how small every month. And the money is kept in a decentralized wallet.

But I have one problem which is I keep checking the price of Bitcoin every time I have the slightest opportunity. I just can't take my eyes off my wallet. I can check my wallet up to ten times and above in a day. My mind is telling me that it is not normal since I want to be a long-time investor. I also observe that a drop in price makes me scared, while a rise gives me the opposite feeling.

I want to know if there is an average number of times a new investor should check his wallet and how can I change my behavior if it is abnormal. Thank you in advance for your helpful responses.

For beginners, I would say that this is normal, I mean when I was in the early stage of my journey, I was check the balance of my wallet if I have the chance to. But later on, as I gain more experience and have seen my first bitcoin cycle (bearish/bullish), I was not that conscious anymore. Probably 2-3x a day is good enough to check the price and what your wallet looks like.

Don't you worry, as you mature in this market, your concern is how to increased your bitcoin or any other altcoin, not what the price of the market is or what is the equivalent of the crypto that you have relative to fiat.

Iroh

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I do not think your habitual behavior of regularly checking your wallet to know the current price of bitcoin is abnormal. On the contrary, lots of people can’t get their eyes of their wallets and I think a lot of people do check their wallets periodically for want to know the current price of their investments.

As a new bitcoin holder, I think it’s understandable that you would check your wallet numerous times daily. You stated that you intend on holding bitcoin for the long run and that’s why you’re accumulating bitcoin monthly and storing in your decentralized wallet. As a new bitcoin holder, It’s great to see you’re saving your funds off exchanges.

As an intending long term holder, you should learn to put aside the habit of regularly checking your wallet. As you intend holding bitcoin for the long run, the present price of bitcoin shouldn’t be an immediate concern to you. You would only kill yourself with worry and perhaps doubts by regularly checking your wallet.
Don’t beat yourself about it and take it slow and easy. You’ll be fine.

Rikafip

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Quote from: Fiatless on December 17, 2022, 08:39:23 PM

I want to know if there is an average number of times a new investor should check his wallet and how can I change my behavior if it is abnormal. Thank you in advance for your helpful responses.

Since you are still new in crypto, your behavior is perfectly normal and all of us did the same at the beginning.

Speaking from my own experience, turning point for me 2018 when I decided to deinstall all price tracking apps from my mobile phone and remove similar websites from my bookmarks as I was getting obsessed with it. Thing is, I realized that there was no point in checking prices on the daily basis because I was not a trader but hodler, so why waste my time on that since i won't do anything about it, no matter price going up or down. Best decision ever.

pooya87

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As long as this doesn't turn into a long term habit where you always check the price, there is no problem with it. It is normal that during the first couple of weeks of adopting bitcoin for you to be worried about the price specially since the market is a bit weird right now.
But if it turned out to be a long term thing, there could be a problem with the amount you'd invested in bitcoin. If you invest what you can afford to lose your concern will also be a lot less.

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Quote from: Fiatless on December 17, 2022, 08:39:23 PM

I want to know if there is an average number of times a new investor should check his wallet and how can I change my behavior if it is abnormal. Thank you in advance for your helpful responses.

Actually theres none. For someone whose into crypto its quite normal that he/she frequently checking his portfolio once in a while like minutes apart. But thats due to the habit weve acquired in the long run and being used to it. Thats not bad at all, but having an urge not to check on it is a very hard challenge cause we always wanted to know what are the status of our money if its falling or gaining.

Majestic-milf

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Quote from: Fiatless on December 17, 2022, 08:39:23 PM

I am a new Bitcoin holder because I recently decided to terminate a bank standing order that transfers some of my extra earnings to a special account. I wanted to save this money for future use. But I recently decided to stop these savings and use the money to buy Bitcoin no matter how small every month. And the money is kept in a decentralized wallet.

But I have one problem which is I keep checking the price of Bitcoin every time I have the slightest opportunity. I just can't take my eyes off my wallet. I can check my wallet up to ten times and above in a day. My mind is telling me that it is not normal since I want to be a long-time investor. I also observe that a drop in price makes me scared, while a rise gives me the opposite feeling.

I want to know if there is an average number of times a new investor should check his wallet and how can I change my behavior if it is abnormal. Thank you in advance for your helpful responses.

That feeling is normal, bruv because as a new investor you do everything humanly possible to get a bigger profit
its not your fault that you check it every 5secs per day, the things is you don't want to lose since the price is not stagnant. It happened to me at first when I was supposed to get a higher profit but I withheld from doing so. Truthfully, constantly monitoring your wallet would get you scared to the point of removing it. Since the price of BTC is volatile, it's best to take it as it comes.
It's best to also invest in an amount that you can easily do without and that way it would save you a lot of stress.

Crypt0Gore

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Every newbies have done the same thing, do not worry, as time goes by you will learn to leave your wallet alone, it's not a healthy lifestyle and since you plan to hold for a long term there is no reason to keep checking your wallet.

Altcoins and Bitcoin will keep losing value because we are in a bear market and a bear market is the most volatile stage for crypto currency, it is just what it is so keep holding and forget your wallet for now until the next Bitcoin halving is almost here.

Issa56

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Quote from: Fiatless on December 17, 2022, 08:39:23 PM

I want to know if there is an average number of times a new investor should check his wallet and how can I change my behavior if it is abnormal. Thank you in advance for your helpful responses.

As a new investor I think it's normal, with time you are going to get use to it, I was once in your condition when I started investing in bitcoin, immediately I invested in bitcoin I was always checking my wallet, but when bitcoin started dumping and I noticed my money is down, then I stopped checking it frequently because I was always feeling bad whenever I see the amount left. You checking your wallet frequently is normal as a newbie, I know you won't want your money to dump so you will be monitoring it always. Just always have it in mind that you are investing for long term so even if price increases you are not going to sell or just always get yourself busy am sure you will reduce the way you check your wallet.

NdaMk

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Quote from: Fiatless on December 17, 2022, 08:39:23 PM

My mind is telling me that it is not normal since I want to be a long-time investor. I also observe that a drop in price makes me scared, while a rise gives me the opposite feeling.

I want to know if there is an average number of times a new investor should check his wallet and how can I change my behavior if it is abnormal. Thank you in advance for your helpful responses.

The Anxiety is real mate, although you might have read few things about bitcoin or heard some of its good things from people, a new investor like you will still be nervous and check everytime to clear the doubt of whether you made the right choice to invest in it. Its normal considering we are even in a bearish period. Do not anticipate any bad things because with bitcoin yours funds won't lose value (if truly you invested them in bitcoin). But if feel too scared about losing then my advice is take money off it and invest that which is worth losing for you to clear off your doubts. Then go do more research about bitcoin and I am sure you will come back comfortably.
But overall it isn't a bad thing to check everyday but the intention of seeing it rise or drop on every check drives off one's serenity

lovesmayfamilis

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OP, the more you judge yourself for this habit, the more and more often you will check your balance. Let it go; want to watch? Watch; honestly, you're not the only one doing this. Especially during the growth of bitcoin, a lot of users regularly check the balance of their wallets.
On the other hand, by spending that time learning about bitcoins, once you become interested, you will gradually come to understand that when you hold bitcoins in the long run, worrying about the state of your wallet becomes unnecessary.

Rruchi man

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Quote from: Fiatless on December 17, 2022, 08:39:23 PM

I am a new Bitcoin holder because I recently decided to terminate a bank standing order that transfers some of my extra earnings to a special account. I wanted to save this money for future use. But I recently decided to stop these savings and use the money to buy Bitcoin no matter how small every month. And the money is kept in a decentralized wallet.

It's a profitable and good decision that you have made, to start DCA-ing to get more bitcoins, in a couple of months if you remain consistent, you will be able to achieve a lot.

Quote from: Fiatless on December 17, 2022, 08:39:23 PM

But I have one problem which is I keep checking the price of Bitcoin every time I have the slightest opportunity. I just can't take my eyes off my wallet. I can check my wallet up to ten times and above in a day. My mind is telling me that it is not normal since I want to be a long-time investor. I also observe that a drop in price makes me scared, while a rise gives me the opposite feeling.

It is normal for a new bitcoin hodler to keep checking their bitcoins in their wallets, it is part of the excitement buying bitcoins for the first time and seeing it in your wallet. What will not be normal however is if after you have become conversant with the bitcoin environment for a long time, you are still addicted to constantly checking your wallet to see your balance.

Always wanting to check your balance is the fastest way to keep an unsettled mind towards your investment in cryptocurrency, you should try to learn to slowly limit checking your balance everytime so it doesn't begin to affect the decision you have made to hodl bitcoin for a long time.

owlcatz

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Quote from: mk4 on December 17, 2022, 11:29:17 PM

I was like that as well in the past when I first went big on crypto. The trick is to do something productive and keep yourself busy so you stop unnecessarily checking your wallet's value. You earn more money or gain more knowledge, and at the same time you get to do that unproductive habit a lot less. Win-win.

This 100% ^^^^^^^^^^^^

mk4

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I was like that as well in the past when I first went big on crypto. The trick is to do something productive and keep yourself busy so you stop unnecessarily checking your wallet's value. You earn more money or gain more knowledge, and at the same time you get to do that unproductive habit a lot less. Win-win.

rat03gopoh

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Store private keys safely > uninstall wallet > clean and set cookies to "don't save" on a browser where you always visit a bitcoin tracker that allows converting prices (meant to forget your address in search history).
I don't know how you buy bitcoins, if it's possible to store addresses by labeling your wallet address, then take advantage of that to reduce saving address history on the clipboard.

Occasionally you may look at the monthly blockchain tracker just to make sure your bitcoin transaction is confirmed (not to see the value).

Despairo

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This is a toxic habit, I think the reason why you're regularly checking your wallet and Bitcoin price is because you're not invest what you can afford to lose. If you invest with most of your money or you're need in hurry, you're better off to sell your coins until you have some cash to buy a foods, pay bills, and for emergency funds. You don't need to spend a lot money if you can't accept the risk, just invest in small amount until you get a better job that will make you earn more money.

owlcatz

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Quote from: Fiatless on December 17, 2022, 08:39:23 PM

I am a new Bitcoin holder because I recently decided to terminate a bank standing order that transfers some of my extra earnings to a special account. I wanted to save this money for future use. But I recently decided to stop these savings and use the money to buy Bitcoin no matter how small every month. And the money is kept in a decentralized wallet.

But I have one problem which is I keep checking the price of Bitcoin every time I have the slightest opportunity. I just can't take my eyes off my wallet. I can check my wallet up to ten times and above in a day. My mind is telling me that it is not normal since I want to be a long-time investor. I also observe that a drop in price makes me scared, while a rise gives me the opposite feeling.

I want to know if there is an average number of times a new investor should check his wallet and how can I change my behavior if it is abnormal. Thank you in advance for your helpful responses.

I've been in BTC since 2014 and can relate entirely. At first, I checked the price constantly, to the point where it was un-healthy.

Over time, I realized it's not what matters in real life at any given moment. Take time to smell the flowers as they say, enjoy life, and don't obsess.

Anyhow, .... This will pass - you will tire of checking it and it hardly moves... Cheesy

Good luck, and don't feel alone haha... You will understand what I mean eventually about what I said about minutes of our lives - they are precious, enjoy them and don't waste too much checking price. Not worth it! Cheesy

Cheers!

Fiatless

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I am a new Bitcoin holder because I recently decided to terminate a bank standing order that transfers some of my extra earnings to a special account. I wanted to save this money for future use. But I recently decided to stop these savings and use the money to buy Bitcoin no matter how small every month. And the money is kept in a decentralized wallet.

But I have one problem which is I keep checking the price of Bitcoin every time I have the slightest opportunity. I just can't take my eyes off my wallet. I can check my wallet up to ten times and above in a day. My mind is telling me that it is not normal since I want to be a long-time investor. I also observe that a drop in price makes me scared, while a rise gives me the opposite feeling.

I want to know if there is an average number of times a new investor should check his wallet and how can I change my behavior if it is abnormal. Thank you in advance for your helpful responses.

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