There’s all these new cryptos is constantly flooding in…I Can’t Close My Trade On Etoro… i mean how do you do with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly has to do with education so you if you discover the the very essentials here’s how bitcoin works and and we speak to a great deal of once again financial consultants here’s simply how bitcoin works and once 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 what is the 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 into that you know all these new tokens all these brand-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 price today that’s the only factor you’re entering it and that comes from education understanding and once again going back to an investment thesis truthfully and saying i’m not going to invest in 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 and find out what it is and learn where it fits for me um i you understand obviously have 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 weekly i see a new one being listed on some exchange and i’m and i go i’ve never ever even i can’t believe i’ve never heard of that i get a big ego and i resemble how could i not have actually become aware of that but i have it and somehow it gets listed and there are most likely lots of other people saying the same things about 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 method i look at it is one there are a few ways one is i attempt to inform myself as much as possible and then have a concept of what i like to discover and like to invest in what do i like to buy do i like to purchase 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 just just purely you understand pumps like pump schemes or something i understand a lot of individuals made money on shiba inu i understand a great deal of individuals made money on dogecoin that’s fantastic to hear i do not want to do that that that’s not me i select not to and i’m not telling anybody they should or they shouldn’t because there are a great deal of individuals that have actually succeeded i pick not to do that one due to the fact that they’re they trade keep in mind 24 7 365.
i do not want to go to sleep one night and i’m up here and awaken and i’m down here because what will take place is i’ll never sleep again and again from an emotional standpoint i don’t want that i i attempt to learn a fair bit about the ones that i’m interested in or discover you understand find out why i might be interested why they may have worth and honestly man it just takes a great deal of education the other thing i’ll state about that genuine rapidly is you hear a lot of individuals who don’t comprehend a lot about crypto or or are really against it saying stating i don’t 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 much 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 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 effectively so it so if we feel and and look this this gets into a little bit of an opinion i’m a huge defy person i love decentralized finance and part of the reason is since i have actually remained in finance for so long and i understand where the inefficiencies are and i understand 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 great the thing is the blockchain innovation is not effective without the currency that runs the network you can’t have the blockchain technology be truly 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 because there’s all these cryptocurrencies there’s a limited amount of dollars that’s going to enter into them so i got to figure out which one’s going to be the winner it is going to again in my opinion start to start to engulf the traditional monetary system and i do not indicate 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 interacting they’re going to start integrating together and that’s where you’re visiting a great deal of this worth so there’s so much money in the traditional 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 just going to be called the financial system due to the fact that it’s just a it’s essentially 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 buy here’s what i do not this is a clip from our webinar solely transmitted for etoro us club members our webinars let members straight communicate with our guests using 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 boodle bag special access to our regular monthly webinars quarterly market reports and a devoted account manager if you join our higher tiers you can likewise get things like a subscription of the wall street journal delta pro and exclusive invites to irl yes reality etoro events make certain to check out the description for any promotional offers and to find out more about our incredible visitors i’ll see you in etoro us’s club I Can’t Close My Trade On Etoro.