There’s all these brand-new cryptos is constantly flooding in…Etoro Asx… i mean how do you finish with this deluge of novel cryptocurrency um well well it’s a lot of that honestly is about education so you if you discover the the extremely fundamentals here’s how bitcoin works and and we speak to a lot of again financial advisors here’s just how bitcoin works and once you comprehend bitcoin you comprehend 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 video 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 some of them are literally simply there to try to where they have no functionality it’s simply we hope
that the cost tomorrow is higher than the rate today that’s the only reason you’re getting into it and that originates from education understanding and once again returning to an investment thesis truthfully and saying i’m not going to purchase anything even if i saw some dude pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research and learn what it is and learn where it fits for me um i you know obviously 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 every week i see a 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 become aware of that i get a huge ego and i’m like how could i not have actually become aware of that but i have it and in some way it gets noted and there are most likely tons of other individuals saying the exact same features of cryptos that i know a lot about because 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 take a look at it is one there are a couple of methods one is i try to inform myself as much as possible and after that have an idea of what i like to learn more about and like to buy what do i like to invest in do i like to invest in 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 just just simply you understand pumps like pump schemes or something i know a lot of people generated income on shiba inu i know a great deal of people generated income on dogecoin that’s fantastic to hear i don’t want to do that that that’s not me i select not to and i’m not telling anybody they should or they shouldn’t because there are a great deal of individuals that have succeeded i choose not to do that a person because they’re they trade remember 24 7 365.
i don’t want to go to sleep one night and i’m up here and wake up and i’m down here since what will take place is i’ll never sleep again and again from a psychological perspective i don’t want that i i attempt to find out a fair bit about the ones that i have an interest in or discover you know discover why i might be interested why they may have value and honestly guy it just takes a whole lot of education the other thing i’ll state about that genuine quickly is you hear a lot of individuals who don’t understand a lot about crypto or or are actually against it stating stating i don’t understand how there can be all these cryptocurrencies among them needs to win but that’s that’s not the case they are all they they can or many 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 alright 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 needs to have its own currency to operate effectively 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 reason is since i’ve been in finance for so long and i understand where the inadequacies are and i know if we can take a few of those inefficiencies out of the system and we can utilize blockchain innovation to do it that would be fantastic the thing is the blockchain innovation is not effective without the currency that runs the network you can’t have the blockchain technology be truly efficient running 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 very much truth to the assertion that because 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 start to engulf the conventional monetary system and i do not indicate that everything else is going to go away i imply my sensation is banks and the crypto that the procedures and whatever are going to start working together they’re going to start incorporating together which’s where you’re going to see a great deal of this value so there’s a lot money in the traditional finance 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 eventually it’s simply going to be called the financial system due to the fact that it’s just a it’s essentially a database in a network you get educated and once again when you get educated have a financial investment thesis here’s what i like to purchase 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 connect with our visitors using a q a and anyone or you can sign up with etoro club and u.s club members get a bunch of advantages such as an etoro swag bag special access to our monthly webinars quarterly market reports and a devoted account manager if you join our greater tiers you can also get things like a membership of the wall street journal delta pro and exclusive invitations to irl yes reality etoro occasions make sure to take a look at the description for any advertising offers and to read more about our amazing visitors i’ll see you in etoro us’s club Etoro Asx.