There’s all these new cryptos is constantly flooding in…Etoro Questions Answers… i mean how do you make with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly is about education so you if you find out the the very basics here’s how bitcoin works and and we talk with a lot of again financial advisors here’s simply how bitcoin works and when you understand bitcoin you understand things like blockchain technology you understand openness and immutability and all those things and after that you start to enter into what is the financial investment thesis behind bitcoin which 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 brand-new cryptocurrencies a few of them are actually just there to attempt to where they have no functionality it’s just we hope
that the rate tomorrow is higher than the price today that’s the only factor you’re entering it which originates from education understanding and again returning to a financial investment thesis honestly and stating i’m not going to buy anything even if i saw some dude pumping it on tick tock or i saw somebody pumping it on twitter i’m going to do my research study and learn what it is and learn where it suitables for me um i you know of course need to do a great deal of research i can’t keep up with probably ten percent of the the tokens and cryptos that come out uh weekly i see a brand-new one being listed on some exchange and i’m and i go i have actually never ever even i can’t believe i’ve never ever heard of that i get a big ego and i’m like how might i not have actually become aware of that but i have it and somehow it gets listed and there are most likely tons of other individuals saying the exact same features of cryptos that i understand a lot about because i i tend to look at a lot of defy stuff 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 a concept of what i like to find out about and like to buy what do i like to invest in do i like to purchase the ones that have some sort of cash flow or liquidity procedure or something like that so understanding those i do not like to purchase some that are simply just purely you understand pumps like pump plans or something i understand a lot of individuals earned money on shiba inu i understand a lot of people generated income on dogecoin that’s great to hear i don’t wish 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 individuals that have succeeded i select not to do that a person because they’re they trade keep in mind 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 due to the fact that what will occur is i’ll never sleep again and again from an emotional standpoint i do not want that i i attempt to learn 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 may have value 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 people who don’t comprehend a lot about crypto or or are really against it saying saying i do not understand how there can be all these cryptocurrencies one of them has 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 a number of them are a currency that is for a specific 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 fine 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 requires to have its own currency to work effectively so it so if we feel and and look this this gets into a bit of an opinion i’m a big defy man i love decentralized financing and part of the factor is since i have actually been in financing for so long and i know where the ineffectiveness are and i understand if we can take some of those ineffectiveness out of the system and we can use blockchain innovation to do it that would be great the important things is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain technology be really 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 effective so there is to me not quite reality to the assertion that since there’s all these cryptocurrencies there’s a limited 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 opinion start to start to swallow up the traditional monetary system and i don’t mean that everything else is going to go away i mean my sensation is banks and the crypto that the protocols and whatever are going to begin collaborating they’re going to start integrating together which’s where you’re going to see a lot of this worth so there’s a lot money in the conventional finance 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 since it’s just a it’s basically a database in a network you get educated and once again once you get informed have a financial investment thesis here’s what i like to purchase here’s what i do not this is a clip from our webinar solely relayed for etoro us club members our webinars let members straight engage with our visitors using 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 special access to our regular monthly webinars quarterly market reports and a dedicated account manager if you join our greater tiers you can also get things like a subscription of the wall street journal delta pro and special invitations to irl yes reality etoro occasions make certain to take a look at the description for any promotional deals and to learn more about our fantastic visitors i’ll see you in etoro us’s club Etoro Questions Answers.