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The secrets of crypto

When Mark Wong first bought Bitcoin, he made all the classic newbie mistakes. Now he’s a coach and educator helping others avoid the traps, with his business Altcoin Ignition.

9 March 2022

Readers of Informed Investor can get Mark Wong’s free beginner course, the Crypto Crasher, by going onto his website, www.altcoinignition.io, or by signing up to his newsletters. See his story below:

Mark Wong lost a small fortune in his first foray into Bitcoin. It was devastating, but he says it was an important journey to have travelled.

“Now it gives me an insight into what people need help with, and it was the catalyst that prompted me to learn more.”

Wong first heard of Bitcoin when it was valued at US$1, but thought it was a geek thing, ‘magic internet money’.

In 2017 he heard it had hit US$10,000, researched it, and bought some from a friend.

He was also talked into buying some Altcoins (alternative cryptocurrencies).

His investment multiplied by about 40x almost overnight.

When the market crashed, he took bad advice from friends and the crypto community.

“At the time I didn’t know it was bad advice; I thought it was great advice: 'When it goes low, just buy more – buy the dip'.

“Of course, once you know what you’re doing, you know if it’s a dip or if it’s a crash, but I was an amateur and an amateur doesn’t really know the difference.”

He says he fell into every trap waiting for the beginner in currency trading.

“It starts with overinvesting, then buying what you think is a dip on bad advice. When you start crashing, you discover leverage trading [borrowing to invest] because you think that’s the way to win back your money.

“Of course, that’s an even bigger trap, because it’s so dangerous.”

Still, Wong realised there was a lot of potential in cryptocurrency. “I decided that, instead of buying more cryptocurrency, I’d buy some education.”

He found real experts online and, starting in 2018, he did some online courses on how to trade.

“It blew away all the stuff I had previously learned, so I added that to my arsenal.”

Unable to work after injuring himself in his trade as a builder, he spend hours learning and practising.

He shared his trades and soon had a sizeable investment again, and a big online following on Facebook.

“People were following my trades and making a lot of money.”

Last year, he started Altcoin Ignition as an educational platform to help others avoid the mistakes he made, and he’s now is working fulltime on the business.

“I’m still invested, and the returns are definitely life changing but, of course,
we’re actually recovering from a decent dip and it’s all starting to come back up again. It’s not about becoming an overnight millionaire; although that does happen.”

He’s created his own course and continues to coach on his platforms on Facebook and in a Discord community.

“The community is close to having its first Bitcoin millionaire,” he says.

The course takes somebody who already knows how to buy Bitcoin through the basic skills of charting, risk management, and correct position sizing, so you’re not exposing yourself to too much risk.

And then he moves on to a set of basic strategies he’s used to become profitable.

Not everyone will be as profitable as he has been, he warns. “Half of it is having control over your emotions, which is the most difficult part.”

One of the first things he teaches newbies is when the market’s choppy, don’t trade it. He knows that from bitter experience.

Wong’s happy to give free advice through the Discord community and on his Facebook page.

His course is US$300, but half-price for community members. There’s also a seven-day free trial, through his website, www.altcoinignition.io.

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