There’s all these new cryptos is constantly flooding in…Harmony One Proce Etoro… i indicate how do you make with this deluge of novel cryptocurrency um well well it’s a great deal of that truthfully has to do with education so you if you learn the the very basics here’s how bitcoin works and and we talk with a lot of once again monetary consultants here’s just how bitcoin works and as soon as you comprehend bitcoin you comprehend things like blockchain technology you comprehend openness and immutability and all those things and then you start to get into what is the investment thesis behind bitcoin and that is 80 of the video game right there 80 of understanding these other crypto currencies comes from comprehending how bitcoin functions then you enter into that you understand all these brand-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 simply we hope
that the rate tomorrow is higher than the rate today that’s the only reason you’re entering into it which comes from education understanding and again going back to an investment thesis truthfully and saying i’m not going to invest in anything just because i saw some guy 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 suitables for me um i you know naturally need to do a whole lot of research study i can’t keep up with probably ten percent of the the tokens and cryptos that come out uh each week i see a brand-new one being noted 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 might i not have heard of that however i have it and somehow it gets listed and there are probably tons of other people stating the exact same things about cryptos that i understand a lot about since i i tend to take a 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 methods one is i try to educate myself as much as possible and after that have a concept of what i like to find out about and like to purchase what do i like to invest in do i like to buy the ones that have some sort of capital or liquidity procedure or something like that so understanding those i don’t like to purchase some that are simply simply purely you understand pumps like pump plans or something i understand a great deal of people made money on shiba inu i know a great deal of individuals earned money 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 should or they should not because there are a great deal of individuals that have actually succeeded i select not to do that one due to the fact that 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 because what will take place is i’ll never ever sleep again and again from a psychological standpoint i don’t want that i i attempt to learn a fair bit about the ones that i have an interest in or discover you know find out why i might be interested why they might have value and honestly guy it just takes a 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 truly versus it stating saying 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 number of them can exist on their own a number 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 a whole 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 man i love decentralized finance and part of the factor is because i have actually remained in financing for so long and i understand where the inefficiencies are and i understand if we can take some of those inefficiencies out of the system and we can use blockchain innovation to do it that would be great the important things is the blockchain innovation is not efficient without the currency that runs the network you can’t have the blockchain technology be really efficient operating on dollars working 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 truth 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 go into them so i got to determine 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 don’t mean that whatever else is going to go away i indicate my feeling is banks and the crypto that the protocols and whatever are going to begin collaborating they’re going to begin incorporating together which’s where you’re going to see a great deal of this worth so there’s a lot money in the conventional finance 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 just going to be called the financial system since it’s just a it’s essentially a database in a network you get educated and again as soon as you get educated have a financial investment thesis here’s what i like to buy here’s what i do not this is a clip from our webinar specifically broadcast for etoro us club members our webinars let members straight interact with our visitors utilizing a q a and any person or you can join etoro club and u.s club members get a bunch of perks such as an etoro boodle bag unique 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 special invites to irl yes reality etoro events make certain to take a look at the description for any advertising offers and to read more about our incredible guests i’ll see you in etoro us’s club Harmony One Proce Etoro.