There’s all these brand-new cryptos is continuously flooding in…Porters 5 Forces Etoro… i suggest how do you make 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 learn the the extremely fundamentals here’s how bitcoin works and and we speak to a lot of again monetary advisors here’s just how bitcoin works and once you comprehend bitcoin you understand things like blockchain innovation you comprehend openness and immutability and all those things and after that you begin to get 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 comes from understanding how bitcoin functions then you get into that you know all these brand-new tokens all these brand-new cryptocurrencies some of them are literally simply there to try to where they have no functionality it’s simply we hope
that the rate tomorrow is higher than the cost today that’s the only reason you’re entering into it and that comes from education understanding and again going back to an investment thesis truthfully and saying i’m not going to buy anything even if i saw some guy pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research study and find out what it is and learn where it fits for me um i you understand naturally need to do a great deal of research i can’t stay up to date with probably ten percent of the the tokens and cryptos that come out uh every week i see a brand-new one being noted on some exchange and i’m and i go i have actually never even i can’t think i have actually 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 noted and there are probably lots of other individuals saying the very same things about cryptos that i know a lot about because i i tend to look at a great deal of defy stuff i tend to look a great deal of those tokens so the the way i look at it is one there are a couple of methods one is i try to educate myself as much as possible and then have an idea of what i like to discover and like to buy 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 comprehending those i do not like to purchase some that are just just simply you understand pumps like pump plans or something i understand a great deal of people generated income on shiba inu i know a great deal of people made money on dogecoin that’s terrific to hear i do not wish to do that that that’s not me i pick not to and i’m not telling anybody they should or they shouldn’t because there are a lot of people that have succeeded i pick not to do that one since they’re they trade remember 24 7 365.
i don’t want to go to bed 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 standpoint i do not desire that i i attempt to learn quite a bit about the ones that i have an interest in or discover you understand discover why i might be interested why they might have value and truthfully male it simply 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 truly versus it saying stating i do not understand how there can be all these cryptocurrencies one of them needs 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 much 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 financial network all right 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 operate efficiently so it so if we feel and and look this this enters into a bit of an opinion i’m a big defy person i love decentralized finance and part of the factor is due to the fact that i’ve remained in finance for so long and i know where the inefficiencies are and i understand if we can take some of those ineffectiveness out of the system and we can utilize blockchain innovation to do it that would be fantastic 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 efficient running on dollars running 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 reality to the assertion that due to the fact that there’s all these cryptocurrencies there’s a minimal 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 conventional monetary system and i do not mean that everything else is going to go away i indicate my feeling is banks and the crypto that the procedures and everything are going to start working together they’re going to start integrating together which’s where you’re visiting a great deal of this worth so there’s so much money in the conventional 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 ultimately it’s simply going to be called the monetary system since it’s just a it’s basically a database in a network you get informed and once again when you get educated have an investment thesis here’s what i like to invest in here’s what i do not this is a clip from our webinar exclusively transmitted for etoro us club members our webinars let members straight interact with our visitors using a q a and anybody or you can join etoro club and u.s club members get a bunch of advantages such as an etoro swag 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 membership of the wall street journal delta pro and unique invitations to irl yes reality etoro occasions be sure to check out the description for any marketing deals and to read more about our incredible visitors i’ll see you in etoro us’s club Porters 5 Forces Etoro.