There’s all these new cryptos is constantly flooding in…Can’t Open Etoro App… i indicate how do you do with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly is about education so you if you find out the the extremely fundamentals here’s how bitcoin works and and we talk with a great deal of again financial consultants here’s just how bitcoin works and when you understand bitcoin you comprehend things like blockchain innovation you understand transparency and immutability and all those things and after that you start to enter into what is the investment thesis behind bitcoin which is 80 of the video game right there 80 of understanding these other crypto currencies comes from comprehending how bitcoin functions then you enter into that you know all these brand-new tokens all these brand-new cryptocurrencies a few of them are literally just there to try to where they have no performance it’s just we hope
that the rate tomorrow is higher than the cost today that’s the only reason you’re entering into it and that originates from education understanding and again going back to a financial investment thesis honestly and stating i’m not going to purchase anything just because i saw some guy pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research study and find out what it is and learn where it suitables for me um i you know naturally need to do a great deal of research i can’t stay up to date with probably ten percent of the the tokens and cryptos that come out uh every week i see a brand-new one being listed on some exchange and i’m and i go i’ve never even i can’t think i have actually never become aware of that i get a huge ego and i’m like how could i not have heard of that however i have it and in some way it gets noted and there are most likely lots of other individuals saying the same things about cryptos that i understand a lot about because i i tend to look at a lot of defy stuff i tend to look a lot of those tokens so the the method i look at it is one there are a few ways one is i attempt to educate myself as much as possible and after that have an idea of what i like to learn about and like to invest in what do i like to buy do i like to buy 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 simply simply you know pumps like pump schemes or something i know a lot of individuals made money on shiba inu i understand a great deal of individuals made money on dogecoin that’s terrific to hear i do not wish to do that that that’s not me i pick not to and i’m not telling anybody they should or they should not because there are a great deal of people that have actually done well i select not to do that a person due to the fact that they’re they trade keep in mind 24 7 365.
i do not wish to go to sleep one night and i’m up here and wake up and i’m down here because what will take place is i’ll never sleep again and again from a psychological standpoint i do not desire that i i attempt to learn a fair bit about the ones that i have an interest in or learn you know learn why i might be interested why they may have value and truthfully man it simply takes a great deal of education the other thing i’ll say about that real rapidly is you hear a great deal of individuals who do not comprehend a lot about crypto or or are really versus it saying stating i don’t comprehend how there can be all these cryptocurrencies among them has 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 a number of them are a currency that is for a particular 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 economic network okay if eth is the currency of the ethereum network so there’s an entire network there and it has to have his own it it needs to have its own currency to operate effectively so it so if we feel and and look this this enters into a bit of a viewpoint i’m a big defy man i love decentralized financing and part of the reason is because i’ve remained in financing for so long and i know where the inadequacies are and i understand 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 innovation is not efficient without the currency that runs the network you can’t have the blockchain technology be truly effective running on dollars operating on us dollars over the banking system you need to have the cryptocurrency the currency of the network to make it efficient so there is to me not very much reality to the assertion that because there’s all these cryptocurrencies there’s a limited quantity of dollars that’s going to go into them so i got to find out which one’s going to be the winner it is going to once again in my viewpoint start to begin to engulf the traditional financial system and i do not imply that whatever else is going to go away i mean my feeling is banks and the crypto that the procedures and whatever are going to start collaborating they’re going to start incorporating together and that’s where you’re visiting a great deal of this value so there’s so much cash in the standard financing system that’s going to make its way into what we currently call the crypto system or the
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Defi system and ultimately it’s simply going to be called the financial system because it’s simply a it’s essentially a database in a network you get informed and again as soon as you get informed have an investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar solely transmitted for etoro us club members our webinars let members directly interact with our guests using a q a and any person or you can join etoro club and u.s club members get a bunch of perks such as an etoro swag bag special access to our month-to-month webinars quarterly market reports and a devoted account manager if you join our greater tiers you can also get things like a membership of the wall street journal delta pro and special invites to irl yes real life etoro occasions make sure to have a look at the description for any marketing offers and to read more about our remarkable guests i’ll see you in etoro us’s club Can’t Open Etoro App.