There’s all these new cryptos is continuously flooding in…Coinbase Dex… i suggest how do you finish with this deluge of novel cryptocurrency um well well it’s a great deal of that honestly has to do with education so you if you find out the the really basics here’s how bitcoin works and and we talk with a great deal of once again financial advisors here’s simply how bitcoin works and when you understand bitcoin you comprehend things like blockchain technology you comprehend transparency and immutability and all those things and then you begin to get into what is the investment thesis behind bitcoin which is 80 of the game right there 80 of comprehending these other crypto currencies originates from understanding how bitcoin functions then you enter that you understand all these new tokens all these new cryptocurrencies a few of them are literally just there to attempt to where they have no performance it’s simply we hope
that the rate tomorrow is higher than the rate today that’s the only factor you’re entering into it and that comes from education understanding and once again returning to an investment thesis honestly and saying i’m not going to purchase 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 learn what it is and discover where it fits for me um i you know obviously need to do a whole lot of research study 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 noted on some exchange and i’m and i go i’ve never even i can’t believe i’ve never ever become aware of that i get a huge ego and i resemble how could i not have actually heard of that however i have it and somehow it gets noted and there are most likely lots of other people saying the same things about cryptos that i know a lot about because i i tend to take a look at a lot 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 methods 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 purchase what do i like to invest in do i like to invest in the ones that have some sort of capital or liquidity protocol or something like that so comprehending those i don’t like to buy some that are simply just purely you understand pumps like pump schemes or something i understand a lot of people generated income on shiba inu i know a great deal of individuals generated income on dogecoin that’s terrific to hear i don’t wish to do that that that’s not me i choose not to and i’m not telling anybody they must or they should not because there are a great deal of people that have succeeded i choose not to do that one due to the fact that they’re they trade remember 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 take place is i’ll never ever sleep again and again from a psychological perspective i don’t want that i i attempt to discover a fair bit about the ones that i’m interested in or learn you understand find out why i might be interested why they might have worth and honestly man it just takes a great deal of education the other thing i’ll state about that real rapidly is you hear a great deal of individuals who do not understand a lot about crypto or or are actually versus it saying stating i do not 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 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 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 function efficiently so it so if we feel and and look this this gets into a bit of a viewpoint i’m a huge defy man i love decentralized finance and part of the reason is since i have actually been in finance for so long and i know where the ineffectiveness are and i know if we can take some of those inefficiencies out of the system and we can utilize blockchain technology 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 really effective operating 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 quite fact to the assertion that because there’s all these cryptocurrencies there’s a restricted quantity 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 viewpoint start to begin to engulf the standard monetary system and i do not mean that everything else is going to go away i indicate my sensation is banks and the crypto that the procedures and whatever are going to begin collaborating they’re going to begin incorporating together which’s where you’re visiting a good deal of this value so there’s a lot cash in the conventional 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 simply going to be called the monetary 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 an investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar exclusively relayed for etoro us club members our webinars let members directly communicate with our guests using a q a and anyone or you can sign up with etoro club and u.s club members get a bunch of perks such as an etoro swag bag exclusive access to our regular monthly webinars quarterly market reports and a devoted account manager if you join our higher tiers you can likewise get things like a membership of the wall street journal delta pro and special invitations to irl yes reality etoro events make sure to have a look at the description for any advertising deals and to read more about our fantastic visitors i’ll see you in etoro us’s club Coinbase Dex.