There’s all these brand-new cryptos is constantly flooding in…Concurrent Etoro… i indicate how do you do with this deluge of unique cryptocurrency um well well it’s a lot of that honestly is about education so you if you learn the the extremely fundamentals here’s how bitcoin works and and we speak with a great deal of once again monetary advisors here’s simply how bitcoin works and once you understand bitcoin you understand things like blockchain innovation you comprehend transparency and immutability and all those things and then you start to enter into what is the financial investment thesis behind bitcoin which is 80 of the game right there 80 of comprehending these other crypto currencies comes from comprehending how bitcoin functions then you get into that you know all these new tokens all these new cryptocurrencies a few of them are actually just there to attempt to where they have no performance it’s just we hope
that the price tomorrow is higher than the rate today that’s the only factor you’re getting into it and that originates from education understanding and once again going back to a financial investment thesis truthfully and saying i’m not going to buy 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 fits for me um i you know of course have to do a lot of research study 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 new one being noted on some exchange and i’m and i go i’ve never even i can’t believe i’ve never heard of that i get a huge ego and i’m like how might i not have heard of that however i have it and in some way it gets listed and there are probably lots of other people stating the very same aspects 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 few ways one is i try to educate myself as much as possible and after that have a concept of what i like to find out about and like to purchase what do i like to buy do i like to buy the ones that have some sort of cash flow or liquidity protocol or something like that so comprehending those i do not like to buy some that are simply simply purely you understand pumps like pump plans or something i know a great deal of individuals earned money on shiba inu i understand a lot of people made money 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 people that have actually succeeded i choose not to do that one because they’re they trade keep in mind 24 7 365.
i don’t wish to go to sleep one night and i’m up here and wake up and i’m down here since what will happen is i’ll never sleep again and again from a psychological standpoint i do not desire that i i attempt to discover a fair bit about the ones that i’m interested in or learn you understand learn why i might be interested why they might have value and truthfully man it just takes a whole lot of education the other thing i’ll say about that real rapidly is you hear a lot of people who do not understand a lot about crypto or or are truly against it saying stating i don’t understand how there can be all these cryptocurrencies one of them needs 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 particular 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 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 requires to have its own currency to operate efficiently so it so if we feel and and look this this enters a little bit of a viewpoint i’m a big defy man i love decentralized finance and part of the factor is since 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 ineffectiveness out of the system and we can use 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 effective operating 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 quite fact to the assertion that since there’s all these cryptocurrencies there’s a minimal amount of dollars that’s going to go into them so i got to find out which one’s going to be the winner it is going to once again in my viewpoint start to begin to swallow up the traditional financial system and i do not mean that everything else is going to go away i indicate my sensation is banks and the crypto that the procedures and everything 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 cash 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 eventually it’s just going to be called the financial system due to the fact that it’s just 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 invest in here’s what i don’t this is a clip from our webinar exclusively relayed for etoro us club members our webinars let members directly connect with our guests utilizing a q a and anybody or you can join etoro club and u.s club members get a lot of benefits such as an etoro boodle bag exclusive access to our regular monthly webinars quarterly market reports and a devoted account manager if you join our higher tiers you can likewise get things like a membership of the wall street journal delta pro and special invites to irl yes real life etoro events make certain to check out the description for any advertising deals and to learn more about our remarkable guests i’ll see you in etoro us’s club Concurrent Etoro.