There’s all these brand-new cryptos is constantly flooding in…Tradezero Vs Robinhood… i indicate how do you do with this deluge of unique cryptocurrency um well well it’s a great deal of that truthfully has to do with education so you if you find out the the really fundamentals here’s how bitcoin works and and we speak to a great deal of once again financial consultants here’s just how bitcoin works and once you understand bitcoin you comprehend things like blockchain innovation you comprehend transparency and immutability and all those things and then you begin to enter into what is the financial investment thesis behind bitcoin and that is 80 of the game right there 80 of understanding these other crypto currencies originates from comprehending how bitcoin functions then you enter that you understand all these new tokens all these brand-new cryptocurrencies a few of them are literally 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 factor you’re entering 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 someone pumping it on twitter i’m going to do my research and discover what it is and learn where it suitables for me um i you know naturally need to do a great deal of research study i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh weekly i see a 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 heard of that i get a huge ego and i’m like how might i not have heard of that however i have it and somehow it gets listed and there are most likely tons of other people stating the very same aspects of cryptos that i know a lot about since i i tend to take a look at a great deal of defy things i tend to look a great deal of those tokens so the the method i take a look at it is one there are a couple of ways one is i try to inform 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 purchase do i like to invest in the ones that have some sort of cash flow or liquidity procedure or something like that so understanding those i do not like to invest in some that are simply just simply you understand pumps like pump schemes or something i understand a lot of people generated income on shiba inu i understand a lot of people generated income on dogecoin that’s excellent to hear i don’t want to do that that that’s not me i pick not to and i’m not telling anybody they must or they shouldn’t because there are a lot of individuals that have actually succeeded i choose not to do that a person since 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 since what will happen is i’ll never ever sleep again and again from a psychological standpoint i do not want that i i try to discover 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 honestly male it simply takes a lot of education the other thing i’ll say about that real rapidly is you hear a great deal of people who don’t understand a lot about crypto or or are really against it saying saying i don’t understand how there can be all these cryptocurrencies among them needs to win however that’s that’s not the case they are all they they can or a number 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 economic network fine 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 effectively so it so if we feel and and look this this gets 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 financing for so long and i understand where the inefficiencies are and i know if we can take some of those ineffectiveness out of the system and we can use blockchain innovation 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 innovation be truly efficient working on dollars operating 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 quite reality to the assertion that since 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 viewpoint start to start to swallow up the conventional monetary system and i don’t imply that everything else is going to disappear i suggest my sensation is banks and the crypto that the protocols and everything are going to begin collaborating they’re going to begin integrating together and that’s where you’re visiting a lot of this value so there’s a lot cash in the traditional financing system that’s going to make its method into what we presently call the crypto system or the
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Defi system and ultimately 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 once 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 exclusively broadcast for etoro us club members our webinars let members directly communicate with our visitors using a q a and any person or you can join etoro club and u.s club members get a bunch of advantages such as an etoro swag bag exclusive access to our regular monthly webinars quarterly market reports and a devoted account supervisor if you join our higher tiers you can also get things like a membership of the wall street journal delta pro and special invitations to irl yes real life etoro events make sure to have a look at the description for any marketing deals and to read more about our fantastic visitors i’ll see you in etoro us’s club Tradezero Vs Robinhood.