As a part of my job, I come into contact with cryptocurrency and ICOs on a daily basis. However, I am still in the early stages of building my own portfolio. Let me share more about why I am such a late bloomer to investing. With one leg in the creative industry and the other in blockchain, I can safely say that I’ve been fortunate enough to experience the differing perspectives on cryptocurrency. The following, I’ve realised, are some of the main reasons that have deterred me, and many of my friends, from delving into the world of crypto investing and trading:

1. Time and Education (or the lack thereof)

There are currently 1634 cryptocurrencies listed on Coin Market Cap, and this number is rising exponentially with ICOs sprouting up like babies circa 1949. For a newbie, this is undoubtedly overwhelming. Which ones are worth the money? How much do I buy? What is proof of stake? Proof of work? FUD? HODL?

As a full time creative and marketing professional who is working on multiple projects at any one time, I also face time constraints in terms of researching and educating myself on the crypto market. Sure, I can follow all the crypto experts I can find on Twitter, or pay to join a Telegram group of the sorts. However, there are a multitude of differing advices (mostly based on speculation), and phrases like “bitcoin- biggest bubble in history” and “all hype and hot air” being thrown my way. Whose opinion do I trust at any point? This leads me to my second factor:

2. Risks

I’ve worked on several projects that lacked a clear vision and have no actual use case. (S**TCOIN ALERT!)

The fact that nearly 80% ICOs are scams also raises red flags in our heads. Not to mention the price volatility due to fixed supply and speculation-driven fluctuating demand. All these risks involved in the crypto world has even prompted some naysayers to liken it to the dot com bubble back in the late 90s. As a result, many millennials would rather look to low-risk investments like bonds and trust funds.

3. Irrationality

Although important, It is often difficult to take the emotion out of investing due to the lack of patience and FOMO.

The lack of rational investing is a massive roadblock for rookie investors, especially when they participate in overhyped ICOs without understanding the the vision of the company and its underlying technology. To earn from FOMO investing boils down entirely to luck, and if you happen to be as unlucky as Toby in The Office, you may lose all your money to a scam and vow to never, ever step foot into anything crypto again.

I believe many people are just afraid of taking the first step and it would greatly help to have some guidance.

Enter Spiking

Spiking helps bridge the knowledge gap (a huge one, indeed) between newbies and whales, by providing optimal information to make trading and investment decisions. It basically allows us newbies to find and follow whales, and mimic their trade movements automatically via artificial intelligence. This successfully minimises the time needed for us to manoeuvre in the investment landscape, lowers the risks involved in investing and eliminates the frequency of irrational investments.

What exactly are whales? In a nutshell, they are key executives of the companies behind the cryptocurrency token, mining pools, and large holders of the tokens. I know what you’re thinking- how legitimate are these whales? They are verified by Spiking’s extremely strict criteria and the support from Quest Ventures and the National Research Foundation, Singapore Prime Minister’s Office, under the Interactive & Digital Media Strategic Research Programme’s i.JAM Reload initiative attests to their credibility.

The concept of following the investment of whales is something I have thought about. However, it’s difficult to track the identity of whales and their authenticity, as well as keep up to date on their calls, all through my lone efforts. Spiking streamlines the entire process for us newbies by not only providing easily digestible information, a common platform to locate these whales, but also a portfolio catered to your preferences.

Of course, it’s advisable to always #DYOR (do your own research) when it comes to any investment. Before you utilise Spiking, do your due diligence and read up on the basics. It will also be useful to take some time to research on the background of the whales and their history.

Sorry for rambling on and on! In short, take time. Educate yourselves. Review the risks. Be rational. Oh, and give Spiking a try - it’s a pretty awesome kickstart.😀 (https://spiking.com/)