There’s all these new cryptos is constantly flooding in…Is Etoro A Clearinghouse… i suggest how do you finish with this deluge of unique cryptocurrency um well well it’s a lot of that honestly has to do with education so you if you find out the the very basics here’s how bitcoin works and and we speak to a great deal of again financial advisors here’s just how bitcoin works and as soon as you comprehend bitcoin you understand things like blockchain technology you comprehend openness and immutability and all those things and after that 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 understanding how bitcoin functions then you enter that you know all these brand-new tokens all these brand-new cryptocurrencies a few of them are actually simply there to attempt to where they have no functionality it’s simply we hope
that the price tomorrow is higher than the cost today that’s the only reason you’re entering into it which originates from education understanding and again going back to a financial investment thesis honestly 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 learn what it is and learn where it suitables for me um i you understand of course need to do a 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 new one being noted on some exchange and i’m and i go i have actually never ever even i can’t think i have actually never ever become aware of that i get a huge ego and i’m like how could i not have actually become aware of that but i have it and in some way it gets noted and there are probably lots of other individuals saying the exact same aspects of cryptos that i understand a lot about because i i tend to look at a great deal of defy things i tend to look a lot of those tokens so the the method i take a look at it is one there are a few ways one is i try to inform myself as much as possible and after that have an idea of what i like to learn about and like to invest in what do i like to invest in do i like to purchase the ones that have some sort of capital or liquidity protocol or something like that so understanding those i don’t like to invest in some that are just just purely you know pumps like pump schemes or something i know a great deal of individuals earned money on shiba inu i know a lot of people generated income on dogecoin that’s fantastic to hear i don’t want to do that that that’s not me i pick not to and i’m not telling anyone they ought to or they should not because there are a great deal of individuals that have done well i pick not to do that a person due to the fact that they’re they trade keep in mind 24 7 365.
i do not 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 happen is i’ll never sleep again and again from an emotional perspective i don’t desire that i i attempt to learn quite a bit about the ones that i have an interest in or discover you understand find out why i might be interested why they may have worth and truthfully man it simply takes a whole lot of education the other thing i’ll say about that real quickly is you hear a great deal of people who do not comprehend a lot about crypto or or are truly versus it stating saying i don’t understand how there can be all these cryptocurrencies among them has to win however that’s that’s not the case they are all they they can or many of them can exist on their own much of them are a currency that is for a specific 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 economic network okay 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 requires to have its own currency to operate effectively so it so if we feel and and look this this gets into a bit of a viewpoint i’m a big defy person i love decentralized financing and part of the factor is because i have actually been in financing for so long and i know where the ineffectiveness are and i know if we can take a few of those inadequacies out of the system and we can use blockchain innovation to do it that would be fantastic the important things is the blockchain innovation is not effective without the currency that runs the network you can’t have the blockchain innovation be truly 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 effective so there is to me not very much truth to the assertion that because there’s all these cryptocurrencies there’s a minimal quantity of dollars that’s going to go into them so i got to figure 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 conventional financial system and i do not indicate that everything else is going to disappear i suggest my feeling is banks and the crypto that the protocols and whatever are going to begin interacting they’re going to start integrating together which’s where you’re visiting a good deal of this value so there’s so much cash in the traditional financing system that’s going to make its way into what we currently call the crypto system or the
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Defi system and eventually it’s simply going to be called the financial system because it’s simply a it’s basically a database in a network you get informed and once again once you get informed have an investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar exclusively broadcast for etoro us club members our webinars let members straight engage with our guests utilizing a q a and anyone or you can join etoro club and u.s club members get a bunch of benefits such as an etoro swag bag special access to our month-to-month webinars quarterly market reports and a dedicated account supervisor if you join our greater tiers you can also get things like a membership of the wall street journal delta pro and unique invites to irl yes real life etoro events make sure to check out the description for any marketing deals and for more information about our incredible guests i’ll see you in etoro us’s club Is Etoro A Clearinghouse.