Checking your crypto portfolio is a good idea to keep track of your investments but you don’t want to overdue it. There is a lot of volatility in the crypto markets, which can cause crypto investors to make emotional decisions during bear markets.
Choose a Daily Routine
I personally check my crypto portfolio on a daily basis using the Cointracker app because it’s free to sign up and track your total portfolio value across your entire holdings. Read my Cointracker review to learn why I absolutely love this crypto tracking app.
However, some people may prefer logging directly into their account or accessing your offline hardline wallet.
You can try these different intervals depending on how obsessed you are:
- Daily: Crypto markets move often and you may need to keep track of your altcoins in case they spike or crash quickly.
- Weekly: This is a good time period for swing traders who want to profit from top 100 altcoin pumps.
- Monthly: If you are a long term investor then a monthly check-in will give you a general overview of the market and help you stay on track.
- Annually: This is the most stress free strategy for crypto long term HODLers. Check your portfolio every January and forget about it for the rest of the year.
What Happens If You Don’t Check Your Crypto Portfolio Often?
Nothing will happen to your crypto portfolio if you properly setup your passwords and private keys.
The biggest risk is when you hold altcoins that perform poorly during a crypto bear market and they lose the majority of their value.
If you invest in the majority of your money into the biggest coins such as Bitcoin and Ehtereum then everything will be okay if you don’t check your portfolio for a long time.
What If You’re Addicted to Checking Your Crypto Portfolio?
On the other hand, some crypto investors are addicted to checking their portfolios and will log in several times per day or even multiple times per hour to see how their crypto is performing.
Checking your portfolio all the time throughout the day is a waste of time in my opinion and only increases your stress levels during volatile trading periods.
Perhaps you check your portfolio while bored at work or school to pass the time. This is a bad habit that distracts you from your task at hand and doesn’t help grow your portfolio.
However, you may be addicted to checking your crypto portfolio and should take certain steps to alleviate your addiction.
If you have a serious crypto addiction then try the following steps to help cure your addiction:
- Delete your crypto portfolio apps from your phone.
- Stop searching Google multiple times per day just to check the price.
- Use a time tracking app like RescueTime or Togl to see how much time you spending checking your portfolio.
- Spend your time researching crypto or making money so you can increase your crypto holdings.