There’s all these brand-new cryptos is constantly flooding in…Etoro Portfolio Is Empty… i imply how do you make 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 discover the the very fundamentals here’s how bitcoin works and and we talk with a great deal of once again financial consultants here’s simply how bitcoin works and when you understand bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and after that you start to get into what is the financial 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 brand-new tokens all these new cryptocurrencies a few of them are literally just there to attempt to where they have no performance it’s simply we hope
that the cost tomorrow is higher than the cost today that’s the only reason you’re entering into it which originates from education understanding and once again going back to a financial investment thesis honestly and stating i’m not going to invest in 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 and find out what it is and find out where it fits for me um i you understand obviously have to do a whole lot of research study i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh every week i see a brand-new one being noted on some exchange and i’m and i go i’ve never even i can’t think i’ve never ever become aware of that i get a big ego and i’m like how might i not have heard of that however i have it and somehow it gets listed and there are most likely tons of other people saying the same things about cryptos that i know a lot about since i i tend to look at a great deal of defy stuff i tend to look a great deal of those tokens so the the way i take a look at it is one there are a few ways one is i try to educate myself as much as possible and then have a concept of what i like to find out about and like to buy what do i like to purchase do i like to buy the ones that have some sort of cash flow or liquidity procedure or something like that so comprehending those i do not like to purchase some that are simply simply simply you understand pumps like pump schemes or something i understand a great deal of people made money on shiba inu i know a great deal of people made money on dogecoin that’s terrific to hear i do not want to do that that that’s not me i select not to and i’m not telling anybody they ought to or they should not because there are a lot of individuals that have done well i pick not to do that a person due to the fact that they’re they trade remember 24 7 365.
i do not want to go to sleep one night and i’m up here and wake 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 perspective i don’t desire that i i attempt to learn a fair bit about the ones that i have an interest in or discover you understand discover why i might be interested why they might have value and truthfully guy it just takes a lot of education the other thing i’ll state about that real quickly is you hear a lot of people who don’t understand a lot about crypto or or are actually 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 many of them can exist on their own a number 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 economic network alright 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 needs to have its own currency to function effectively so it so if we feel and and look this this gets into a bit of a viewpoint i’m a big defy person i love decentralized financing and part of the factor is since i’ve remained in finance for so long and i understand where the inefficiencies are and i know if we can take some of those ineffectiveness out of the system and we can use blockchain innovation to do it that would be fantastic the thing is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain innovation be really effective working on dollars running on us dollars over the banking system you need to have the cryptocurrency the currency of the network to make it effective so there is to me not very much truth to the assertion that because there’s all these cryptocurrencies there’s a minimal amount of dollars that’s going to go into them so i got to determine which one’s going to be the winner it is going to again in my viewpoint start to start to engulf the standard monetary system and i don’t indicate that everything else is going to disappear i mean my sensation is banks and the crypto that the procedures and everything are going to start working together they’re going to begin integrating together and that’s where you’re going to see a great deal of this value so there’s so much cash in the standard finance 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 eventually 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 informed and again once you get informed have a financial investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar solely broadcast for etoro us club members our webinars let members directly connect with our guests utilizing a q a and anyone or you can join etoro club and u.s club members get a bunch of benefits such as an etoro swag bag exclusive access to our regular monthly webinars quarterly market reports and a devoted account supervisor if you join our greater tiers you can also get things like a membership of the wall street journal delta pro and unique invites to irl yes reality etoro occasions be sure to check out the description for any advertising offers and to read more about our incredible visitors i’ll see you in etoro us’s club Etoro Portfolio Is Empty.