There’s all these new cryptos is continuously flooding in…Ayondo Versus Etoro… i suggest how do you finish 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 fundamentals here’s how bitcoin works and and we talk with a great deal of again monetary advisors 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 then you begin to get into what is the investment thesis behind bitcoin and that is 80 of the video game right there 80 of understanding these other crypto currencies comes from comprehending how bitcoin functions then you get into that you understand all these new tokens all these new cryptocurrencies some of them are actually simply there to try to where they have no performance it’s simply we hope
that the cost tomorrow is higher than the price today that’s the only factor you’re entering it which comes from education understanding and again returning to a financial investment thesis truthfully and saying i’m not going to purchase anything just because i saw some man pumping it on tick tock or i saw somebody pumping it on twitter i’m going to do my research and learn what it is and discover where it suitables for me um i you know naturally 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 each week i see a brand-new one being noted on some exchange and i’m and i go i have actually never ever even i can’t believe i have actually never become aware of that i get a huge ego and i’m like how could i not have heard of that however i have it and somehow it gets noted and there are probably tons of other people saying the exact same features of cryptos that i understand a lot about because i i tend to look at a great deal of defy things i tend to look a great deal of those tokens so the the method i take a 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 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 purchase some that are just just purely you understand pumps like pump schemes or something i know a lot of individuals made money on shiba inu i understand a lot of people generated income on dogecoin that’s excellent to hear i do not wish to do that that that’s not me i choose not to and i’m not telling anyone they need to or they shouldn’t because there are a great deal of individuals that have actually done well i pick not to do that a person due to the fact that they’re they trade keep in mind 24 7 365.
i don’t wish 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 take place is i’ll never ever sleep again and again from a psychological viewpoint i do not want that i i try to learn a fair bit about the ones that i have an interest in or learn you understand learn why i might be interested why they may have worth and truthfully guy it just takes a whole lot of education the other thing i’ll state about that real rapidly is you hear a great deal of people who don’t comprehend a lot about crypto or or are truly versus it stating stating i do not understand how there can be all these cryptocurrencies one of them has 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 many 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 economic network all right 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 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 guy i love decentralized finance and part of the reason is since i’ve been in finance for so long and i understand where the inefficiencies are and i know if we can take a few of those inefficiencies out of the system and we can utilize blockchain innovation to do it that would be excellent 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 running on dollars running on us dollars over the banking system you have to have the cryptocurrency the currency of the network to make it efficient so there is to me not quite truth to the assertion that because there’s all these cryptocurrencies there’s a restricted amount of dollars that’s going to enter into them so i got to determine which one’s going to be the winner it is going to once again in my viewpoint start to start to swallow up the conventional financial system and i don’t indicate that whatever else is going to disappear i imply my sensation is banks and the crypto that the protocols and whatever are going to begin interacting they’re going to begin incorporating together which’s where you’re visiting a lot of this value so there’s a lot money in the traditional 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 simply going to be called the monetary system because it’s simply a it’s basically a database in a network you get educated and again as soon as you get educated have an investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar solely transmitted for etoro us club members our webinars let members directly communicate with our visitors using a q a and anybody or you can sign up with etoro club and u.s club members get a lot of benefits such as an etoro boodle bag exclusive access to our monthly webinars quarterly market reports and a devoted account supervisor if you join our greater tiers you can likewise get things like a membership of the wall street journal delta pro and unique invites to irl yes reality etoro occasions make certain to check out the description for any promotional deals and for more information about our amazing guests i’ll see you in etoro us’s club Ayondo Versus Etoro.