There’s all these brand-new cryptos is constantly flooding in…Etoro Annual Report… i imply how do you finish with this deluge of novel cryptocurrency um well well it’s a lot of that honestly has to do with education so you if you find out the the really fundamentals here’s how bitcoin works and and we talk to a lot of again financial consultants here’s just how bitcoin works and as soon as you understand bitcoin you understand things like blockchain innovation you understand openness and immutability and all those things and after that you start to enter into what is the investment thesis behind bitcoin which is 80 of the game right there 80 of understanding these other crypto currencies comes from comprehending how bitcoin functions then you enter that you know all these brand-new tokens all these new cryptocurrencies some of them are literally simply there to attempt to where they have no functionality it’s simply we hope
that the price tomorrow is higher than the rate today that’s the only reason you’re entering into it and that comes from education understanding and again going back to an investment thesis truthfully and stating i’m not going to buy anything just because i saw some guy pumping it on tick tock or i saw someone 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 obviously need to do a whole lot of research 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 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 resemble how might i not have actually become aware of that however i have it and somehow it gets listed and there are probably tons of other people stating the same aspects of cryptos that i know a lot about since i i tend to take a look at a lot 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 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 procedure or something like that so understanding those i don’t like to buy some that are simply just simply you know pumps like pump schemes or something i understand a great deal of people generated income on shiba inu i know a great deal of people made money on dogecoin that’s terrific to hear i do not want to do that that that’s not me i pick not to and i’m not telling anyone they should or they should not because there are a great deal of individuals that have succeeded i choose not to do that a person due to the fact that they’re they trade remember 24 7 365.
i do not wish to go to sleep one night and i’m up here and get up and i’m down here because what will happen is i’ll never ever sleep again and again from an emotional standpoint i do not want that i i attempt to find out a fair bit about the ones that i’m interested in or learn you know discover why i might be interested why they may have value and honestly male it just takes a lot of education the other thing i’ll say about that genuine quickly is you hear a lot of people who do not understand a lot about crypto or or are truly versus it stating saying i don’t 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 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 economic network all right if eth is the currency of the ethereum network so there’s a whole 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 gets into a little bit of an opinion i’m a big defy guy i love decentralized finance and part of the factor is since i have actually been in financing for so long and i understand where the inefficiencies are and i understand if we can take some of those ineffectiveness out of the system and we can utilize blockchain technology to do it that would be excellent the thing is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain innovation be really effective running 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 truth to the assertion that due to the fact that there’s all these cryptocurrencies there’s a limited amount of dollars that’s going to enter into them so i got to find out which one’s going to be the winner it is going to again in my opinion start to begin to engulf the conventional financial system and i don’t suggest that everything else is going to disappear i suggest my sensation is banks and the crypto that the procedures and whatever are going to start working together they’re going to begin integrating together which’s where you’re visiting a great deal of this value so there’s so much money in the standard financing system that’s going to make its method into what we presently call the crypto system or the
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Defi system and ultimately 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 informed and again once 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 solely transmitted for etoro us club members our webinars let members directly connect with our visitors utilizing a q a and any person or you can sign up with etoro club and u.s club members get a lot of benefits such as an etoro swag bag exclusive access to our monthly webinars quarterly market reports and a devoted account supervisor 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 real life etoro occasions make sure to have a look at the description for any promotional offers and to get more information about our fantastic visitors i’ll see you in etoro us’s club Etoro Annual Report.