There’s all these brand-new cryptos is constantly flooding in…Etoro Gear… i indicate how do you do 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 discover the the really fundamentals here’s how bitcoin works and and we speak to a lot of again monetary advisors here’s just how bitcoin works and as soon as you understand bitcoin you understand things like blockchain technology you comprehend openness and immutability and all those things and after that you start to enter what is the financial investment thesis behind bitcoin which is 80 of the game right there 80 of understanding these other crypto currencies originates from comprehending how bitcoin functions then you get into that you understand all these brand-new tokens all these new cryptocurrencies a few of them are actually just there to attempt 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 factor you’re entering into it which comes from education understanding and once again going back to an investment thesis truthfully and stating i’m not going to buy anything even if i saw some man pumping it on tick tock or i saw somebody pumping it on twitter i’m going to do my research study and find out what it is and find out where it fits for me um i you understand obviously have to do a great deal of research i can’t stay up to date 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’ve never ever heard of that i get a huge ego and i resemble how could i not have actually become aware of that however i have it and in some way it gets listed and there are most likely lots of other individuals saying the exact 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 lot of those tokens so the the way i take a look at it is one there are a couple of ways one is i try to educate myself as much as possible and then have a concept of what i like to find out about and like to invest in what do i like to buy do i like to buy the ones that have some sort of cash flow or liquidity protocol or something like that so comprehending those i do not like to invest in some that are just simply purely you understand pumps like pump plans or something i know a great deal of people earned money on shiba inu i know a great deal of individuals earned money on dogecoin that’s great to hear i do not want to do that that that’s not me i choose not to and i’m not telling anyone they must or they should not because there are a great deal of people that have done well i choose not to do that one because they’re they trade remember 24 7 365.
i don’t wish to go to bed one night and i’m up here and wake up and i’m down here because what will happen is i’ll never sleep again and again from an emotional standpoint i don’t want that i i attempt to find out a fair bit about the ones that i’m interested in or learn you understand discover why i might be interested why they might have worth and truthfully male it just takes a lot of education the other thing i’ll say about that genuine rapidly is you hear a lot of individuals who don’t understand a lot about crypto or or are actually against it saying stating i don’t understand how there can be all these cryptocurrencies one of them has to win but that’s that’s not the case they are all they they can or a lot of them can exist on their own many 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 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 needs to have its own currency to work efficiently so it so if we feel and and look this this enters into a little bit of a viewpoint i’m a big defy guy i love decentralized financing and part of the factor is because i’ve been in financing for so long and i understand where the inefficiencies are and i know if we can take a few of those inefficiencies out of the system and we can use blockchain technology to do it that would be excellent the thing is the blockchain innovation is not efficient without the currency that runs the network you can’t have the blockchain technology 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 very much reality to the assertion that because there’s all these cryptocurrencies there’s a restricted quantity of dollars that’s going to go 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 begin to swallow up the standard monetary system and i don’t mean that whatever else is going to disappear i suggest my feeling is banks and the crypto that the protocols and everything are going to begin collaborating they’re going to begin incorporating together and that’s where you’re visiting a great deal of this value so there’s so much money in the conventional financing system that’s going to make its way into what we presently call the crypto system or the
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Defi system and eventually it’s simply going to be called the monetary system because it’s just a it’s basically a database in a network you get informed and again when you get informed 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 exclusively broadcast for etoro us club members our webinars let members straight communicate with our guests utilizing a q a and anybody or you can join etoro club and u.s club members get a lot of advantages such as an etoro boodle bag unique access to our month-to-month 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 unique invites to irl yes reality etoro occasions make certain to take a look at the description for any promotional deals and for more information about our incredible visitors i’ll see you in etoro us’s club Etoro Gear.