There’s all these new cryptos is continuously flooding in…Minnesota Etoro… i mean how do you do with this deluge of novel cryptocurrency um well well it’s a lot of that truthfully is about education so you if you find out the the very fundamentals here’s how bitcoin works and and we speak with a great deal of once again monetary consultants here’s just how bitcoin works and when you understand bitcoin you understand things like blockchain technology you understand transparency and immutability and all those things and then you start to enter 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 understanding how bitcoin functions then you enter into that you understand all these new tokens all these new cryptocurrencies some of them are literally just there to attempt to where they have no functionality it’s just we hope
that the rate tomorrow is higher than the rate today that’s the only factor you’re entering into it and that comes from education understanding and once again returning to an investment thesis honestly and saying i’m not going to purchase anything even if i saw some guy 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 discover where it suitables for me um i you understand naturally need to do a whole lot of research study 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 have actually never even i can’t believe i have actually never ever heard 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 noted and there are most likely lots of other individuals stating the same aspects of cryptos that i know a lot about since i i tend to look at a great deal of defy things i tend to look a lot of those tokens so the the way i look at it is one there are a couple of ways one is i try to educate myself as much as possible and then have an idea of what i like to discover and like to purchase what do i like to purchase do i like to invest in the ones that have some sort of capital or liquidity protocol 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 lot of individuals generated income on shiba inu i know a lot of individuals earned money on dogecoin that’s excellent to hear i don’t want to do that that that’s not me i pick not to and i’m not telling anyone 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 bed one night and i’m up here and wake up and i’m down here because what will occur is i’ll never sleep again and again from an emotional standpoint 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 find out why i might be interested why they may have value and honestly guy 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 actually against it stating saying i don’t understand how there can be all these cryptocurrencies among them needs 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 many 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 okay if eth is the currency of the ethereum network so there’s an entire network there and it needs to have his own it it requires to have its own currency to work effectively so it so if we feel and and look this this enters a bit of a viewpoint i’m a big defy man i love decentralized financing and part of the factor is because i have actually remained in finance for so long and i understand where the inefficiencies are and i understand if we can take a few of those inefficiencies out of the system and we can use 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 actually efficient working on dollars operating 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 reality to the assertion that due to the fact that there’s all these cryptocurrencies there’s a restricted quantity 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 opinion start to begin to swallow up the traditional monetary system and i do not indicate that whatever else is going to disappear i indicate my feeling is banks and the crypto that the protocols and everything are going to begin collaborating they’re going to start integrating together and that’s where you’re visiting a lot of this value so there’s so much money in the traditional finance system that’s going to make its method into what we currently 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 informed and again once you get educated have an investment thesis here’s what i like to invest in here’s what i don’t this is a clip from our webinar exclusively broadcast for etoro us club members our webinars let members straight engage with our visitors utilizing a q a and anyone or you can sign up with etoro club and u.s club members get a bunch of benefits such as an etoro swag bag special access to our monthly webinars quarterly market reports and a dedicated account manager if you join our greater tiers you can likewise get things like a subscription of the wall street journal delta pro and special invites to irl yes reality etoro occasions make sure to take a look at the description for any promotional offers and to find out more about our fantastic guests i’ll see you in etoro us’s club Minnesota Etoro.