There’s all these brand-new cryptos is constantly flooding in…Coinbase Btv… i suggest how do you make 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 very essentials 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 innovation 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 game right there 80 of understanding these other crypto currencies comes from understanding how bitcoin functions then you enter that you understand all these brand-new tokens all these brand-new cryptocurrencies a few of them are actually simply there to attempt to where they have no functionality it’s simply we hope
that the rate tomorrow is higher than the cost today that’s the only factor you’re entering into it and that comes from education understanding and again going back to a financial investment thesis truthfully and stating i’m not going to purchase 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 discover what it is and learn where it suitables for me um i you know naturally need to do a lot of research study i can’t stay up to date 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 have actually never ever even i can’t think i have actually never ever heard of that i get a huge ego and i’m like how might i not have become aware of that however i have it and in some way it gets noted and there are probably lots of other individuals saying the same features of cryptos that i understand a lot about since i i tend to look at a lot of defy things i tend to look a great deal of those tokens so the the way i look at it is one there are a few ways one is i try to educate myself as much as possible and after that have an idea of what i like to learn about and like to buy what do i like to purchase do i like to purchase the ones that have some sort of capital or liquidity protocol or something like that so understanding those i do not like to invest in some that are simply simply purely you know pumps like pump schemes or something i know a lot of people earned money on shiba inu i know a lot of individuals generated income on dogecoin that’s terrific to hear i don’t want 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 lot of individuals that have done well i select not to do that a person due to the fact that they’re they trade keep in mind 24 7 365.
i do not wish to go to bed one night and i’m up here and get up and i’m down here since what will take place is i’ll never sleep again and again from an emotional perspective i do not want that i i try to learn a fair bit about the ones that i’m interested in or learn you know find out why i might be interested why they might have value and honestly man it simply takes a great deal of education the other thing i’ll say about that real rapidly is you hear a lot of people who don’t understand a lot about crypto or or are truly versus it saying saying i don’t understand how there can be all these cryptocurrencies one of them has to win but that’s that’s not the case they are all they they can or much of them can exist on their own much 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 financial 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 needs to have its own currency to work efficiently so it so if we feel and and look this this enters a bit of an opinion i’m a huge defy guy i love decentralized finance and part of the reason is due to the fact that i’ve remained in finance for so long and i understand where the inefficiencies are and i understand if we can take some of those inefficiencies out of the system and we can use blockchain technology to do it that would be great the important things is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain technology be really effective working on dollars working 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 quite reality to the assertion that since there’s all these cryptocurrencies there’s a minimal quantity of dollars that’s going to enter 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 start to swallow up the traditional financial system and i do not mean that everything else is going to disappear i mean my feeling is banks and the crypto that the procedures and whatever are going to begin working together they’re going to start integrating together and that’s where you’re going to see a good deal of this worth so there’s so much cash in the standard 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 because it’s simply a it’s basically a database in a network you get educated and once again once 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 utilizing a q a and anyone or you can sign up with etoro club and u.s club members get a bunch of advantages such as an etoro boodle bag special access to our regular 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 exclusive invites to irl yes real life etoro events be sure to check out the description for any marketing deals and to learn more about our amazing guests i’ll see you in etoro us’s club Coinbase Btv.