There’s all these new cryptos is continuously flooding in…Etoro Custodian… i indicate how do you make with this deluge of novel cryptocurrency um well well it’s a lot of that honestly has to do with education so you if you discover the the extremely basics here’s how bitcoin works and and we talk to a lot of again financial consultants here’s simply how bitcoin works and when you comprehend bitcoin you comprehend things like blockchain technology you comprehend openness and immutability and all those things and then you begin to get into what is the investment thesis behind bitcoin which is 80 of the game right there 80 of understanding these other crypto currencies originates from comprehending how bitcoin functions then you get into that you know all these new tokens all these new cryptocurrencies a few of them are actually just there to attempt to where they have no performance it’s simply we hope
that the rate tomorrow is higher than the price today that’s the only reason you’re getting into it and that originates from education understanding and once again returning to an investment thesis honestly and stating i’m not going to buy anything just because i saw some man pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research study and learn what it is and learn where it suitables for me um i you understand obviously need to do a great deal of research i can’t keep up with probably ten percent of the the tokens and cryptos that come out uh weekly i see a brand-new one being listed on some exchange and i’m and i go i have actually never ever even i can’t think i have actually never ever heard of that i get a huge ego and i’m like how might i not have actually become aware of that however i have it and somehow it gets listed and there are most likely tons of other people saying the exact same aspects of cryptos that i know a lot about because i i tend to take a look at a great deal of defy stuff i tend to look a lot of those tokens so the the way i look at it is one there are a few methods one is i attempt to educate myself as much as possible and then have a concept of what i like to discover and like to invest in what do i like to invest in 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 don’t like to purchase some that are simply just simply you know pumps like pump plans or something i know a great deal of individuals earned money on shiba inu i understand a lot of individuals generated income on dogecoin that’s fantastic to hear i don’t want to do that that that’s not me i choose not to and i’m not telling anyone they must or they should not because there are a great deal of people that have actually done well i choose not to do that a person since they’re they trade remember 24 7 365.
i don’t want to go to bed one night and i’m up here and wake up and i’m down here since what will take place is i’ll never sleep again and again from an emotional perspective i don’t desire that i i try to discover quite a bit about the ones that i’m interested in or discover you understand discover why i might be interested why they might have worth and truthfully guy it simply takes a lot of education the other thing i’ll say about that real quickly is you hear a lot of people who do not understand a lot about crypto or or are actually against it stating saying i do not understand how there can be all these cryptocurrencies one of them needs to win however that’s that’s not the case they are all they they can or much of them can exist on their own much of them are a currency that is for a particular network so bitcoin for instance is the currency for the bitcoin network it’s the equivalent of the dollar is the currency for the united states financial network all right 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 operate effectively so it so if we feel and and look this this gets into a bit of a viewpoint i’m a huge defy guy i love decentralized finance and part of the factor is because i’ve remained in financing for so long and i know where the inefficiencies are and i understand if we can take some of those inadequacies out of the system and we can utilize blockchain innovation to do it that would be excellent the thing is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain innovation be actually effective working on dollars working 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 fact 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 find out which one’s going to be the winner it is going to once again in my opinion start to begin to swallow up the conventional financial system and i do not indicate that everything else is going to disappear i imply my feeling is banks and the crypto that the procedures and whatever are going to start collaborating they’re going to begin incorporating together which’s where you’re going to see a good 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 presently call the crypto system or the
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Defi system and ultimately it’s just going to be called the financial system since it’s just a it’s essentially a database in a network you get educated and again once you get informed have an investment thesis here’s what i like to invest in here’s what i do not this is a clip from our webinar solely relayed for etoro us club members our webinars let members directly interact with our guests utilizing 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 exclusive access to our month-to-month webinars quarterly market reports and a dedicated account supervisor if you join our higher tiers you can also get things like a subscription of the wall street journal delta pro and unique invites to irl yes real life etoro occasions be sure to check out the description for any promotional deals and for more information about our amazing visitors i’ll see you in etoro us’s club Etoro Custodian.