There’s all these new cryptos is continuously flooding in…Reset Virtual Portfolio Etoro… i mean how do you do 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 learn the the really essentials here’s how bitcoin works and and we speak with a lot of again financial consultants here’s just how bitcoin works and when you understand bitcoin you understand things like blockchain technology you understand transparency and immutability and all those things and then you begin to get into what is the investment thesis behind bitcoin and that is 80 of the video game right there 80 of comprehending these other crypto currencies comes from comprehending how bitcoin functions then you enter that you know all these brand-new tokens all these new cryptocurrencies some of them are literally simply there to try to where they have no performance it’s just we hope
that the cost tomorrow is higher than the cost today that’s the only factor you’re getting into it and that originates from education understanding and once again returning to a financial investment thesis honestly and stating i’m not going to invest in anything just because 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 discover what it is and learn where it fits for me um i you know obviously have 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 each week i see a new one being listed on some exchange and i’m and i go i have actually never even i can’t believe i have actually never heard of that i get a big ego and i resemble how could i not have become aware of that but i have it and somehow it gets noted and there are most likely lots of other individuals saying the very same things about 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 way i look at it is one there are a couple of ways one is i attempt to inform myself as much as possible and then have an idea of what i like to find out about and like to purchase what do i like to buy do i like to purchase the ones that have some sort of cash flow or liquidity procedure or something like that so understanding those i don’t like to purchase some that are simply just purely you know pumps like pump plans or something i understand a lot of individuals made money on shiba inu i know a great deal of people generated income on dogecoin that’s excellent to hear i do not want to do that that that’s not me i choose not to and i’m not telling anyone they should or they shouldn’t because there are a lot of people that have succeeded i pick not to do that one because they’re they trade keep in mind 24 7 365.
i do not want to go to bed one night and i’m up here and wake up and i’m down here due to the fact that what will occur is i’ll never ever sleep again and again from a psychological standpoint i don’t want that i i try to find out a fair bit about the ones that i’m interested in or discover you know learn why i might be interested why they might have value and honestly man it simply takes a great deal of education the other thing i’ll say about that genuine rapidly is you hear a lot of people who do not comprehend a lot about crypto or or are really against it stating saying i don’t comprehend 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 much of them can exist on their own many 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 financial 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 requires to have its own currency to operate efficiently so it so if we feel and and look this this enters a little bit of an opinion i’m a big defy guy i love decentralized finance and part of the reason is due to the fact that i’ve been in financing for so long and i know where the inefficiencies are and i know if we can take some 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 efficient without the currency that runs the network you can’t have the blockchain technology be really efficient working on dollars working on us dollars over the banking system you have to have the cryptocurrency the currency of the network to make it efficient so there is to me not quite reality to the assertion that because there’s all these cryptocurrencies there’s a limited 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 begin to engulf the conventional monetary system and i don’t imply that whatever else is going to disappear i indicate my sensation is banks and the crypto that the protocols and whatever are going to begin working together they’re going to begin integrating together which’s where you’re going to see a great deal of this worth so there’s a lot cash 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 monetary system because it’s just a it’s basically a database in a network you get educated and again as soon as you get informed have an investment thesis here’s what i like to buy here’s what i do not this is a clip from our webinar specifically transmitted for etoro us club members our webinars let members straight connect with our visitors utilizing a q a and anyone or you can join etoro club and u.s club members get a lot of perks such as an etoro swag bag special access to our regular monthly webinars quarterly market reports and a dedicated account supervisor if you join our greater tiers you can also get things like a subscription of the wall street journal delta pro and special invitations to irl yes reality etoro occasions make certain to have a look at the description for any promotional offers and to get more information about our remarkable guests i’ll see you in etoro us’s club Reset Virtual Portfolio Etoro.