There’s all these brand-new cryptos is constantly flooding in…Etoro Wequant… i indicate 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 discover the the extremely fundamentals here’s how bitcoin works and and we speak to a great deal of once again financial advisors here’s just how bitcoin works and when 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 into 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 comprehending how bitcoin functions then you enter that you understand all these brand-new tokens all these new cryptocurrencies some of them are literally just there to try to where they have no performance it’s simply we hope
that the cost tomorrow is higher than the price today that’s the only reason you’re entering into it and that comes from education understanding and once again returning to an investment thesis truthfully and saying 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 learn what it is and discover where it fits for me um i you understand of course need to do a great deal of research study i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh each week i see a brand-new one being listed on some exchange and i’m and i go i’ve never even i can’t think i’ve never ever become aware of that i get a huge ego and i resemble how could i not have heard of that but i have it and in some way it gets listed and there are probably tons of other individuals saying the very same features of cryptos that i know a lot about since i i tend to look at a great deal of defy things i tend to look a great deal of those tokens so the the way i take a look at it is one there are a few ways one is i try to educate myself as much as possible and after that have a concept of what i like to learn more about and like to purchase what do i like to purchase do i like to invest in the ones that have some sort of cash flow or liquidity protocol or something like that so understanding those i don’t like to buy some that are simply simply purely you know pumps like pump plans or something i understand a lot of individuals made money on shiba inu i know a lot of individuals made money on dogecoin that’s excellent 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 need to or they shouldn’t because there are a lot of individuals that have actually succeeded i pick not to do that a person since they’re they trade remember 24 7 365.
i do not want to go to sleep one night and i’m up here and get up and i’m down here since what will happen is i’ll never ever sleep again and again from an emotional perspective i don’t want that i i try to discover a fair bit about the ones that i’m interested in or learn you understand discover why i might be interested why they may have worth and honestly guy it just takes a lot of education the other thing i’ll say about that genuine quickly is you hear a lot of individuals who don’t comprehend a lot about crypto or or are actually versus it stating saying i do not understand how there can be all these cryptocurrencies among them has 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 a lot 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 a whole network there and it needs to have his own it it needs to have its own currency to operate efficiently so it so if we feel and and look this this gets into a little bit of a viewpoint i’m a big defy guy i love decentralized finance and part of the reason is due to the fact that i have actually remained in finance for so long and i understand where the inefficiencies are and i know if we can take a few of those inadequacies out of the system and we can use blockchain technology to do it that would be terrific the important things is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain innovation be truly effective 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 effective so there is to me not very much fact to the assertion that because 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 once again in my viewpoint start to begin to swallow up the conventional monetary system and i do not mean that whatever else is going to disappear i mean my sensation is banks and the crypto that the procedures and everything are going to start working together they’re going to begin integrating together which’s where you’re going to see a good deal of this value so there’s a lot 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 ultimately it’s simply going to be called the financial system because it’s simply a it’s essentially a database in a network you get educated and once again once you get educated have an investment thesis here’s what i like to buy here’s what i do not this is a clip from our webinar solely broadcast for etoro us club members our webinars let members directly interact 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 manager if you join our higher tiers you can also get things like a membership of the wall street journal delta pro and exclusive invites to irl yes real life etoro events make certain to have a look at the description for any promotional deals and to read more about our amazing visitors i’ll see you in etoro us’s club Etoro Wequant.