There’s all these new cryptos is constantly flooding in…Fatca Etoro… i imply how do you finish with this deluge of novel cryptocurrency um well well it’s a great deal of that truthfully has to do with education so you if you learn the the really fundamentals here’s how bitcoin works and and we speak to a lot of again financial advisors here’s simply how bitcoin works and when you understand bitcoin you comprehend things like blockchain technology you comprehend transparency and immutability and all those things and then 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 get into that you understand all these brand-new tokens all these brand-new cryptocurrencies some of them are literally just there to try 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 factor you’re entering it which originates from education understanding and once again returning to a financial investment thesis truthfully and saying i’m not going to invest in 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 study and learn what it is and discover where it fits for me um i you understand of course have to do a great deal of research i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh weekly i see a 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 become aware of that i get a huge ego and i resemble how could i not have actually become aware of that but i have it and somehow it gets listed and there are most likely tons of other individuals stating the exact same things about cryptos that i know a lot about since i i tend to take a 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 couple of ways one is i try to inform myself as much as possible and then 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 invest in some that are just just simply you know pumps like pump plans or something i know a lot of people generated income on shiba inu i know a great deal of individuals generated income on dogecoin that’s excellent 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 shouldn’t because there are a great deal of individuals that have actually done well i select not to do that one because they’re they trade keep in mind 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 due to the fact that what will happen is i’ll never sleep again and again from an emotional perspective i don’t want that i i try to discover a fair bit about the ones that i’m interested in or discover you know discover why i might be interested why they might have value and honestly guy it simply takes a great deal of education the other thing i’ll say about that real quickly is you hear a great deal of individuals who don’t understand a lot about crypto or or are really against it saying saying i don’t comprehend 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 many of them can exist on their own a lot 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 fine 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 efficiently so it so if we feel and and look this this enters a little bit of a viewpoint i’m a huge defy person i love decentralized finance and part of the reason is because i have actually remained in financing for so long and i understand where the inadequacies are and i understand if we can take some of those ineffectiveness out of the system and we can use blockchain innovation to do it that would be terrific the thing is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain technology be really efficient operating on dollars running 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 quite reality to the assertion that since there’s all these cryptocurrencies there’s a restricted amount 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 engulf the standard financial system and i do not imply 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 and that’s where you’re going to see a great deal of this worth so there’s a lot cash 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 since it’s simply a it’s basically a database in a network you get educated and once 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 specifically 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 advantages such as an etoro swag bag unique access to our monthly webinars quarterly market reports and a dedicated account supervisor if you join our greater tiers you can likewise get things like a membership of the wall street journal delta pro and exclusive invites to irl yes real life etoro events make sure to check out the description for any marketing offers and to learn more about our remarkable guests i’ll see you in etoro us’s club Fatca Etoro.