There’s all these brand-new cryptos is continuously flooding in…Drivewealth Vs Etoro… i suggest how do you do with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly has to do with education so you if you find out the the very basics here’s how bitcoin works and and we talk with a great deal of once again financial consultants here’s just how bitcoin works and as soon as you understand bitcoin you comprehend things like blockchain innovation you comprehend transparency and immutability and all those things and then you begin to enter what is the financial investment thesis behind bitcoin and that is 80 of the 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 literally simply there to try to where they have no performance it’s simply we hope
that the price tomorrow is higher than the price today that’s the only reason you’re entering it which originates from education understanding and again returning to an investment thesis truthfully and saying i’m not going to buy anything just because i saw some man pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research study and learn what it is and discover where it suitables for me um i you know obviously have to do a whole 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 weekly 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 think i’ve never ever heard of that i get a big ego and i’m like how might i not have actually become aware of that but i have it and in some way it gets noted and there are probably tons of other individuals stating the exact same things about cryptos that i know a lot about because i i tend to take a look at a lot of defy stuff i tend to look a lot of those tokens so the the method i take a look at it is one there are a couple of ways one is i attempt to inform myself as much as possible and then have an idea of what i like to learn more about and like to purchase what do i like to invest in do i like to invest in the ones that have some sort of cash flow or liquidity protocol or something like that so understanding those i do not like to invest in some that are just just simply you understand pumps like pump schemes or something i know a lot of individuals earned money on shiba inu i understand a lot of people made money on dogecoin that’s terrific to hear i don’t wish to do that that that’s not me i choose not to and i’m not telling anyone they need to or they should not because there are a great deal of people that have succeeded i pick not to do that one due to the fact that they’re they trade remember 24 7 365.
i don’t want to go to bed one night and i’m up here and awaken and i’m down here because what will happen is i’ll never sleep again and again from a psychological perspective i do not desire that i i attempt to discover quite a bit about the ones that i’m interested in or learn you know discover why i might be interested why they might have value and truthfully 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 understand a lot about crypto or or are really versus it stating saying 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 a lot of them can exist on their own a lot 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 has to have his own it it requires to have its own currency to function efficiently so it so if we feel and and look this this gets into a little bit of an opinion i’m a huge defy guy i love decentralized financing and part of the reason is because i’ve remained in financing for so long and i know where the inefficiencies are and i understand if we can take some of those inefficiencies out of the system and we can utilize blockchain innovation to do it that would be excellent the thing is the blockchain innovation is not effective without the currency that runs the network you can’t have the blockchain innovation be really efficient working on dollars operating on us dollars over the banking system you have 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 because there’s all these cryptocurrencies there’s a minimal quantity 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 again in my opinion start to begin to swallow up the conventional monetary system and i do not indicate that everything else is going to disappear i mean my feeling is banks and the crypto that the procedures and everything are going to begin interacting they’re going to begin integrating together which’s where you’re visiting a good deal of this worth so there’s a lot money 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 eventually it’s simply going to be called the financial system since it’s simply a it’s essentially a database in a network you get informed and again once you get informed have an investment thesis here’s what i like to purchase here’s what i do not this is a clip from our webinar solely relayed for etoro us club members our webinars let members directly communicate with our guests using a q a and anybody or you can join etoro club and u.s club members get a bunch of advantages such as an etoro swag bag unique access to our month-to-month webinars quarterly market reports and a dedicated account manager if you join our higher tiers you can also get things like a subscription of the wall street journal delta pro and exclusive 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 incredible visitors i’ll see you in etoro us’s club Drivewealth Vs Etoro.