There’s all these brand-new cryptos is constantly flooding in…Trading 212 Hotkeys… i indicate how do you make with this deluge of novel cryptocurrency um well well it’s a great deal of that truthfully is about education so you if you find out the the really essentials here’s how bitcoin works and and we talk with a lot of once again monetary advisors here’s just how bitcoin works and once you understand bitcoin you comprehend things like blockchain technology you comprehend transparency and immutability and all those things and then you start to enter into 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 that you understand all these brand-new tokens all these brand-new cryptocurrencies some of them are literally simply there to attempt to where they have no performance it’s just we hope
that the cost tomorrow is higher than the rate today that’s the only factor you’re getting into it and that originates from education understanding and once again going back to a financial investment thesis honestly and stating i’m not going to invest in anything just because i saw some man pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research study and learn what it is and learn where it fits for me um i you know of course need to do a lot 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 new one being listed on some exchange and i’m and i go i have actually never even i can’t believe i’ve never become aware of that i get a big ego and i’m like how could i not have actually become aware of that however i have it and in some way it gets noted and there are most likely tons of other individuals stating the same features of cryptos that i understand a lot about since i i tend to take a look at a great deal of defy stuff 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 educate myself as much as possible and after that have an idea of what i like to discover and like to invest in what do i like to invest in 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 purchase some that are simply just purely you understand pumps like pump plans or something i know a lot of individuals earned money on shiba inu i understand a great deal of individuals generated income on dogecoin that’s fantastic to hear i do not want to do that that that’s not me i pick not to and i’m not telling anyone they need to or they shouldn’t because there are a lot of people that have actually succeeded i select not to do that a person since they’re they trade keep in mind 24 7 365.
i don’t want to go to sleep one night and i’m up here and wake up and i’m down here since what will take place is i’ll never ever sleep again and again from an emotional standpoint i do not desire that i i try to learn quite a bit about the ones that i have an interest in or discover you know learn why i might be interested why they might have value and truthfully man it just takes a great deal of education the other thing i’ll state about that genuine rapidly is you hear a great deal of individuals who do not comprehend a lot about crypto or or are truly against it stating stating i do not comprehend how there can be all these cryptocurrencies among them has to win but that’s that’s not the case they are all they they can or a number of them can exist on their own a lot 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 an entire network there and it has to have his own it it needs to have its own currency to work effectively so it so if we feel and and look this this enters 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 have actually remained in financing for so long and i understand where the ineffectiveness are and i know if we can take some of those ineffectiveness out of the system and we can utilize 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 technology be really 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 efficient so there is to me not quite truth to the assertion that since there’s all these cryptocurrencies there’s a restricted amount 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 again in my viewpoint start to begin to engulf the conventional monetary system and i do not indicate that everything else is going to disappear i suggest my feeling is banks and the crypto that the procedures and whatever are going to begin collaborating they’re going to start incorporating together and that’s where you’re visiting a good deal of this value so there’s a lot cash in the standard finance 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 essentially a database in a network you get educated and again as soon as you get educated have a financial investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar specifically broadcast for etoro us club members our webinars let members straight connect with our visitors using a q a and anyone or you can sign up with etoro club and u.s club members get a lot of benefits such as an etoro swag bag unique 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 subscription of the wall street journal delta pro and unique invites to irl yes real life etoro events make certain to take a look at the description for any advertising deals and to find out more about our fantastic visitors i’ll see you in etoro us’s club Trading 212 Hotkeys.