There’s all these brand-new cryptos is constantly flooding in…Beginning Unrealized Equity Etoro… i imply how do you finish with this deluge of novel cryptocurrency um well well it’s a lot of that truthfully has to do with education so you if you find out the the extremely fundamentals here’s how bitcoin works and and we talk to a lot of again financial advisors here’s just how bitcoin works and when you comprehend bitcoin you understand things like blockchain innovation you understand transparency and immutability and all those things and then you start to enter what is the investment thesis behind bitcoin and that is 80 of the video game right there 80 of understanding these other crypto currencies originates from understanding how bitcoin functions then you enter into that you understand all these new tokens all these new cryptocurrencies a few of them are literally just there to try to where they have no functionality it’s just we hope
that the price tomorrow is higher than the cost today that’s the only factor you’re entering it and that comes from education understanding and again returning to an investment thesis honestly and saying i’m not going to purchase anything just because i saw some dude pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research and discover what it is and learn where it fits for me um i you know of course have to do a lot of research i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh each week i see a new one being listed on some exchange and i’m and i go i’ve never ever even i can’t think i’ve never ever heard of that i get a big ego and i’m like how might i not have heard of that but i have it and somehow it gets listed and there are probably tons of other individuals saying the same features of cryptos that i know a lot about due to the fact that i i tend to take a look at a lot of defy things i tend to look a lot of those tokens so the the way i take a look at it is one there are a couple of ways one is i try to inform myself as much as possible and after that have a concept of what i like to find out about and like to buy what do i like to buy do i like to purchase the ones that have some sort of cash flow or liquidity procedure or something like that so understanding those i do not like to buy some that are just just simply you know pumps like pump schemes or something i know a lot of people made money on shiba inu i know a great deal of people generated income on dogecoin that’s terrific to hear i don’t want to do that that that’s not me i select not to and i’m not telling anybody they need to or they should not because there are a lot of individuals that have actually done well i select not to do that one since they’re they trade remember 24 7 365.
i don’t want to go to sleep one night and i’m up here and get up and i’m down here due to the fact that what will occur is i’ll never sleep again and again from a psychological standpoint i don’t desire that i i try to discover quite a bit about the ones that i have an interest in or discover you know find out why i might be interested why they may have worth and truthfully man it just takes a great deal of education the other thing i’ll say about that real quickly is you hear a lot of individuals who don’t comprehend a lot about crypto or or are truly versus it stating saying i do not understand how there can be all these cryptocurrencies among them needs to win but that’s that’s not the case they are all they they can or much of them can exist on their own many of them are a currency that is for a specific network so bitcoin for example is the currency for the bitcoin network it’s the equivalent of the dollar is the currency for the united states financial network okay if eth is the currency of the ethereum network so there’s a whole network there and it needs to have his own it it requires to have its own currency to function effectively so it so if we feel and and look this this gets into a little bit of an opinion i’m a big defy person i love decentralized finance and part of the reason is because i have actually been in financing for so long and i understand where the ineffectiveness are and i know if we can take some of those inefficiencies out of the system and we can utilize blockchain technology to do it that would be terrific the thing is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain technology be actually efficient operating on dollars working on us dollars over the banking system you have to have the cryptocurrency the currency of the network to make it effective so there is to me not quite reality to the assertion that because there’s all these cryptocurrencies there’s a minimal quantity of dollars that’s going to enter into them so i got to determine which one’s going to be the winner it is going to again in my opinion start to start to engulf the traditional monetary system and i don’t indicate that whatever else is going to go away i mean my sensation is banks and the crypto that the procedures and everything are going to start working together they’re going to start incorporating together which’s where you’re visiting a good deal of this value so there’s so much cash in the traditional finance system that’s going to make its method into what we presently call the crypto system or the
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Defi system and ultimately it’s just going to be called the monetary system because it’s just a it’s essentially a database in a network you get educated and once again when you get educated have a financial investment thesis here’s what i like to buy here’s what i do not this is a clip from our webinar exclusively transmitted for etoro us club members our webinars let members directly engage with our guests utilizing a q a and any person or you can sign up with etoro club and u.s club members get a bunch of benefits such as an etoro boodle bag exclusive access to our monthly webinars quarterly market reports and a dedicated account manager if you join our higher tiers you can also get things like a subscription of the wall street journal delta pro and special invitations to irl yes reality etoro occasions make certain to take a look at the description for any promotional offers and to read more about our fantastic visitors i’ll see you in etoro us’s club Beginning Unrealized Equity Etoro.