Crypto: What is OCD?

In the world of crypto, the term OCD is regularly used. It comes from English and means Obsessive Compulsive Disorder. This is an expression which is used to designate crypto-investors who cannot help but consult an application every 5 minutes which allows them to see live the evolution of the price of their cryptocurrencies. This is something that is usually only fleeting and only affects new users who join the world of crypto or investing. After a certain period, this obsessive-compulsive disorder disappears and crypto-investors can return to a completely normal life.

Crypto: An Obsessive Compulsive Disorder of Tracking Apps

At the start of the cryptocurrency era, you had to carefully note down the digital assets you had invested in in an Excel file in order to remember them. It was something much more practical than consulting your exchanges or cold storage media for cryptos.

However, to know the value of your investments, you had to carry out mathematical operations. To do this, you had to consult the price of cryptos on a subsidiary site like CoinMarketCap and then multiply this amount by the number of digital currencies held. It was something quite long and complex.

Thanks to tracking apps, things have become much simpler. By indicating the number of tokens of each digital asset in its possession, the application can instantly retrieve prices from a third-party site and provide the total value of the crypto investment portfolio in real time.

Obsessive Compulsive Disorder as a passing fad

Because cryptocurrency prices move every second, some people, most of the time new investors, do not hesitate to check the progress of their investments every minute. For some, this causes what may be considered OCD.

In some cases, it is even possible that you wake up in the middle of the night to consult your tracking application, without being able to go back to sleep until you have consulted it several dozen more times. Of course, this doesn’t happen to everyone, but a significant portion crypto investors have undoubtedly experienced this.

It should be noted that this is usually only temporary. After a few weeks or months, we think much less about the evolution of our crypto investments. We then consult our monitoring application less often and what we could assimilate to OCD ends up disappearing on its own.

The need to monitor your crypto investments from time to time

If over time you will consult your crypto investments less and less, this does not mean that you should neglect them entirely. It is necessary to always regularly check the digital assets in which you have invested so as not to come across an unpleasant surprise.

For this, you can use two different ways to check the status of your investments. The first is to set fixed time intervals at which you will look at the state of your portfolio. This could be twice a day, once every 3 days, etc. The important thing is not to let too much time pass between two checks.

The other option is to put an alert on your tracking app. If the amount of one of your cryptocurrencies increases or decreases by a certain percentage, you can receive a notification on your smartphone. You will then have to try to find the causes of this increase or decrease and then act accordingly.

Conclusion

We hope that you now have a better understanding of the term OCD within the world of cryptocurrencies. In almost all cases, this obsessive-compulsive disorder is fortunately only temporary. Over time, it disappears along with the craze for its crypto investments. However, you should be aware that this addiction can be a problem for new crypto-investors. Due to the significant volatility of prices, we are tempted to regularly take a look at the total capitalization of our portfolio. Conversely, when you become a seasoned investor, you must this time be careful not to neglect your investments too much.