There’s all these new cryptos is constantly flooding in…Does Bitcoin Buy And Sell On Robinhood Count As Day Trades… i imply how do you finish with this deluge of unique cryptocurrency um well well it’s a lot of that honestly has to do with education so you if you find out the the very essentials here’s how bitcoin works and and we speak to a lot of again monetary advisors here’s simply how bitcoin works and when you comprehend bitcoin you understand things like blockchain technology you comprehend transparency and immutability and all those things and after that you begin to enter into what is the investment thesis behind bitcoin which is 80 of the game right there 80 of comprehending these other crypto currencies originates from understanding how bitcoin functions then you enter that you understand 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 rate tomorrow is higher than the price today that’s the only factor you’re entering it and that originates from education understanding and again going back to a financial investment thesis truthfully and saying i’m not going to invest in anything just because i saw some guy pumping it on tick tock or i saw somebody pumping it on twitter i’m going to do my research and discover what it is and learn where it suitables for me um i you know of course need to do a great deal 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 each week i see a brand-new one being noted on some exchange and i’m and i go i have actually never even i can’t believe i’ve never heard of that i get a big ego and i resemble how could i not have actually heard of that but i have it and in some way it gets noted and there are most likely tons of other people stating the same things about cryptos that i understand a lot about because i i tend to look at a lot 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 methods one is i attempt to educate myself as much as possible and then have an idea of what i like to find out about and like to purchase what do i like to invest in do i like to purchase 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 simply simply purely you understand pumps like pump plans or something i know a lot of individuals generated income on shiba inu i understand a lot of people earned money on dogecoin that’s fantastic to hear i do not wish to do that that that’s not me i select not to and i’m not telling anybody they ought to or they should not because there are a great deal of people that have actually succeeded i select not to do that a person due to the fact that they’re they trade remember 24 7 365.
i don’t wish to go to sleep one night and i’m up here and awaken and i’m down here since what will happen is i’ll never ever sleep again and again from a psychological perspective i do not want that i i attempt to find out quite a bit about the ones that i’m interested in or discover you understand discover why i might be interested why they may have value and honestly male it simply takes a lot of education the other thing i’ll say about that genuine quickly is you hear a lot of individuals who don’t comprehend a lot about crypto or or are really against it saying stating i do not understand how there can be all these cryptocurrencies among them needs to win however that’s that’s not the case they are all they they can or a lot of them can exist on their own much 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 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 man i love decentralized financing 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 inadequacies out of the system and we can utilize blockchain technology to do it that would be fantastic the important things is the blockchain innovation is not effective without the currency that runs the network you can’t have the blockchain technology be truly effective working 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 fact to the assertion that due to the fact that 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 once again in my opinion start to start to engulf the traditional 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 protocols and whatever are going to begin working together they’re going to start integrating together and that’s where you’re visiting a great deal of this value so there’s so much cash in the traditional financing 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 monetary system since it’s just a it’s essentially a database in a network you get informed and again when 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 specifically broadcast for etoro us club members our webinars let members directly communicate with our guests utilizing a q a and any person or you can join etoro club and u.s club members get a lot of benefits such as an etoro swag bag exclusive access to our month-to-month webinars quarterly market reports and a dedicated account supervisor if you join our greater tiers you can likewise get things like a subscription of the wall street journal delta pro and unique invitations to irl yes real life etoro occasions be sure to check out the description for any marketing deals and to learn more about our incredible guests i’ll see you in etoro us’s club Does Bitcoin Buy And Sell On Robinhood Count As Day Trades.