There’s all these new cryptos is constantly flooding in…Etoro Spread Betting… i imply how do you finish with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly 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 lot of once again financial consultants here’s just how bitcoin works and when you comprehend bitcoin you understand things like blockchain technology you understand openness and immutability and all those things and after that you start to get into what is the investment thesis behind bitcoin which is 80 of the video game right there 80 of comprehending these other crypto currencies comes from understanding how bitcoin functions then you enter into that you know all these new tokens all these brand-new cryptocurrencies some of them are actually simply there to try to where they have no performance it’s just we hope
that the price tomorrow is higher than the cost today that’s the only factor you’re getting into it which comes from education understanding and again returning to an investment thesis truthfully and saying i’m not going to invest in anything even if 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 find out what it is and learn where it suitables for me um i you know naturally 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 new one being noted on some exchange and i’m and i go i have actually never even i can’t believe i’ve never ever heard of that i get a huge ego and i’m like how might i not have actually become aware of that but i have it and in some way it gets noted and there are probably tons of other individuals saying the exact same features of cryptos that i understand 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 educate myself as much as possible and after that have an idea of what i like to learn more about and like to purchase what do i like to buy do i like to purchase the ones that have some sort of cash flow or liquidity protocol or something like that so comprehending those i do not like to invest in some that are just just purely you know pumps like pump schemes or something i know a lot of individuals earned money on shiba inu i understand a great deal of people generated income on dogecoin that’s great to hear i don’t wish to do that that that’s not me i choose not to and i’m not telling anybody they ought to or they shouldn’t because there are a great deal of individuals that have succeeded i choose not to do that a person since they’re they trade keep in mind 24 7 365.
i do not want to go to sleep one night and i’m up here and awaken and i’m down here because what will occur is i’ll never sleep again and again from a psychological viewpoint i don’t want that i i attempt to learn a fair bit about the ones that i have an interest in or discover you understand find out why i might be interested why they might have worth and honestly male it simply takes a lot of education the other thing i’ll state about that real rapidly is you hear a lot of individuals who do not understand a lot about crypto or or are truly against it saying saying i don’t comprehend how there can be all these cryptocurrencies among them has to win however that’s that’s not the case they are all they they can or a number of them can exist on their own much of them are a currency that is for a specific 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 economic network fine 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 efficiently so it so if we feel and and look this this enters a bit of a viewpoint i’m a huge defy person i love decentralized finance and part of the reason is since i’ve been in finance for so long and i know where the inadequacies are and i understand if we can take some of those inadequacies out of the system and we can utilize blockchain technology to do it that would be terrific the important things is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain technology be truly efficient operating on dollars operating 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 very much reality to the assertion that since there’s all these cryptocurrencies there’s a limited amount of dollars that’s going to go into them so i got to figure out which one’s going to be the winner it is going to again in my viewpoint start to start to engulf the traditional financial system and i do not suggest that whatever else is going to go away i mean my feeling is banks and the crypto that the protocols and everything are going to start interacting they’re going to begin integrating together which’s where you’re visiting a great deal of this value so there’s so much money in the conventional 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 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 once again as soon as 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 exclusively transmitted for etoro us club members our webinars let members straight engage with our guests using a q a and anyone or you can join etoro club and u.s club members get a lot of perks such as an etoro boodle bag special access to our monthly webinars quarterly market reports and a devoted account manager if you join our greater tiers you can likewise get things like a subscription of the wall street journal delta pro and unique invites to irl yes real life etoro occasions make sure to have a look at the description for any marketing deals and for more information about our incredible visitors i’ll see you in etoro us’s club Etoro Spread Betting.