There’s all these new cryptos is continuously flooding in…Etoro Account Opening Questions… i imply how do you make with this deluge of novel cryptocurrency um well well it’s a great deal of that honestly is about education so you if you learn the the very basics here’s how bitcoin works and and we speak to a lot of once again financial consultants here’s just how bitcoin works and as soon as you understand bitcoin you understand things like blockchain technology you understand transparency and immutability and all those things and then you start 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 originates from understanding how bitcoin functions then you enter 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 functionality 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 comes from education understanding and once again going back to a financial investment thesis honestly and stating i’m not going to purchase 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 learn what it is and find out where it fits for me um i you understand of course have to do a great deal of research study i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh every week i see a brand-new one being listed on some exchange and i’m and i go i have actually never even i can’t think i have actually never ever heard of that i get a big ego and i’m like how might 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 saying the same aspects of cryptos that i understand a lot about since i i tend to take a look at a great deal of defy things i tend to look a great deal of those tokens so the the method i 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 learn about and like to purchase what do i like to buy do i like to purchase the ones that have some sort of capital or liquidity protocol or something like that so understanding those i don’t like to buy some that are just simply purely you understand pumps like pump schemes or something i understand a lot of people earned money on shiba inu i know a great deal of people generated income on dogecoin that’s fantastic to hear i do not want to do that that that’s not me i select not to and i’m not telling anyone they need to or they should not because there are a great deal of individuals that have actually done well i pick not to do that a person because they’re they trade keep in mind 24 7 365.
i don’t want to go to sleep 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 standpoint i don’t desire that i i try to find out quite a bit about the ones that i have an interest in or learn you know find out why i might be interested why they might have value and truthfully guy it just takes a whole lot of education the other thing i’ll say about that real quickly is you hear a lot of individuals who do not understand a lot about crypto or or are truly against it saying saying i don’t comprehend 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 much of them can exist on their own a number 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 okay if eth is the currency of the ethereum network so there’s a whole network there and it has to have his own it it needs to have its own currency to work effectively so it so if we feel and and look this this enters into a little bit of an opinion i’m a big defy man i love decentralized finance and part of the reason is due to the fact that i’ve been in finance for so long and i understand where the inefficiencies are and i know if we can take some of those inadequacies 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 effective without the currency that runs the network you can’t have the blockchain innovation be actually effective operating on dollars working on us dollars over the banking system you need to have the cryptocurrency the currency of the network to make it efficient so there is to me not quite reality to the assertion that since there’s all these cryptocurrencies there’s a minimal 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 opinion start to begin to swallow up the conventional financial system and i don’t mean that everything else is going to go away i suggest my feeling is banks and the crypto that the protocols and whatever are going to start interacting they’re going to start incorporating together which’s where you’re visiting a lot of this worth so there’s so much cash in the conventional 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 just going to be called the financial system due to the fact that it’s simply a it’s basically a database in a network you get educated and once again as soon as you get educated have a financial investment thesis here’s what i like to invest in here’s what i don’t this is a clip from our webinar solely transmitted for etoro us club members our webinars let members straight engage with our visitors utilizing 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 monthly webinars quarterly market reports and a devoted account manager if you join our higher tiers you can also get things like a subscription of the wall street journal delta pro and special invitations to irl yes reality etoro events be sure to have a look at the description for any advertising deals and for more information about our remarkable guests i’ll see you in etoro us’s club Etoro Account Opening Questions.