There’s all these brand-new cryptos is constantly flooding in…Etoro Income Statement… i suggest how do you make with this deluge of unique cryptocurrency um well well it’s a lot of that truthfully has to do with education so you if you learn the the extremely fundamentals here’s how bitcoin works and and we speak with a lot of once again monetary advisors here’s just how bitcoin works and as soon as you comprehend bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and after that you start 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 understanding how bitcoin functions then you enter that you know all these new tokens all these new cryptocurrencies some of them are actually just 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 factor you’re getting into it and that originates from education understanding and again going back to an investment thesis honestly and stating i’m not going to purchase anything even if 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 find out what it is and find out where it suitables for me um i you know obviously need to do a great deal of research study i can’t stay up to date with probably 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’ve never even i can’t think i have actually never ever become aware of that i get a big ego and i resemble how could i not have heard of that but i have it and in some way it gets noted and there are probably tons of other individuals stating the same things about cryptos that i understand a lot about due to the fact that i i tend to 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 few ways one is i try to educate myself as much as possible and then have an idea of what i like to discover and like to buy what do i like to purchase 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 simply simply you know pumps like pump schemes or something i understand a lot of individuals generated income on shiba inu i understand a great deal of people made money on dogecoin that’s fantastic to hear i don’t wish to do that that that’s not me i choose not to and i’m not telling anybody they ought to or they should not because there are a great deal of individuals that have actually succeeded i select not to do that a person because they’re they trade remember 24 7 365.
i don’t wish to go to sleep one night and i’m up here and awaken and i’m down here due to the fact that what will take place is i’ll never sleep again and again from a psychological standpoint i don’t want that i i try to find out a fair bit about the ones that i’m interested in or learn you know learn why i might be interested why they might have worth and truthfully male 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 don’t comprehend a lot about crypto or or are actually against it saying stating i do not 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 a number 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 okay if eth is the currency of the ethereum network so there’s an entire 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 enters into a little bit of an opinion i’m a big defy person i love decentralized finance and part of the factor is due to the fact that i’ve remained in finance for so long and i understand where the ineffectiveness are and i know if we can take a few of those inadequacies out of the system and we can utilize blockchain technology to do it that would be excellent the important things is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain innovation be really efficient operating on dollars operating 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 very much fact to the assertion that due to the fact that there’s all these cryptocurrencies there’s a restricted 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 viewpoint start to begin to swallow up the traditional monetary system and i don’t imply that everything else is going to go away i suggest my sensation is banks and the crypto that the protocols and everything are going to begin collaborating they’re going to start integrating together and that’s where you’re going to see a good deal of this value so there’s a lot cash in the traditional financing 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 monetary system since it’s simply a it’s essentially a database in a network you get educated and once 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 relayed 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 bunch of perks such as an etoro swag bag special access to our monthly 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 invitations to irl yes reality etoro events make certain to check out the description for any marketing deals and for more information about our fantastic guests i’ll see you in etoro us’s club Etoro Income Statement.