There’s all these brand-new cryptos is continuously flooding in…Das Neue Etoro… i mean how do you finish with this deluge of unique cryptocurrency um well well it’s a lot of that honestly has to do with education so you if you learn the the very essentials here’s how bitcoin works and and we talk to a great deal of again financial consultants here’s simply how bitcoin works and as soon as you understand bitcoin you understand things like blockchain technology 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 game right there 80 of understanding these other crypto currencies comes from comprehending how bitcoin functions then you enter into that you understand all these brand-new tokens all these brand-new cryptocurrencies a few of them are literally just there to try to where they have no functionality it’s simply we hope
that the cost tomorrow is higher than the rate today that’s the only factor you’re getting into it and that comes from education understanding and again returning to a financial investment thesis honestly and saying i’m not going to purchase anything even if i saw some man 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 suitables for me um i you know naturally have to do a lot of research i can’t stay up to date with most likely 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 have actually never ever even i can’t believe i’ve never ever become aware of that i get a huge ego and i’m like how might i not have actually heard of that but i have it and in some way it gets listed and there are probably tons of other people stating the same things about cryptos that i know a lot about due to the fact that 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 method i take a look at it is one there are a few methods one is i attempt to inform myself as much as possible and then have an idea of what i like to learn more about and like to buy what do i like to invest in do i like to invest in the ones that have some sort of cash flow or liquidity protocol or something like that so understanding those i do not like to invest in some that are simply just purely you understand pumps like pump schemes or something i understand a lot of people earned money on shiba inu i know a lot of individuals generated income on dogecoin that’s terrific to hear i don’t want to do that that that’s not me i pick not to and i’m not telling anyone they should or they shouldn’t because there are a lot of people that have actually done well i select not to do that one due to the fact that they’re they trade keep in mind 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 due to the fact that what will happen is i’ll never ever sleep again and again from a psychological standpoint i don’t desire that i i attempt to learn a fair 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 guy it simply takes a whole lot of education the other thing i’ll say about that real quickly is you hear a great deal of individuals who don’t comprehend a lot about crypto or or are truly against it stating stating i do not understand how there can be all these cryptocurrencies among them has to win however that’s that’s not the case they are all they they can or a lot of them can exist on their own much 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 okay 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 needs to have its own currency to work efficiently so it so if we feel and and look this this gets into a bit of an opinion i’m a big defy man i love decentralized finance and part of the factor is because i’ve remained in financing for so long and i understand where the ineffectiveness are and i understand if we can take a few of those inadequacies out of the system and we can utilize blockchain technology to do it that would be terrific the thing is the blockchain innovation is not efficient without the currency that runs the network you can’t have the blockchain technology be actually effective running on dollars running on us dollars over the banking system you need 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 minimal amount of dollars that’s going to go into them so i got to find out which one’s going to be the winner it is going to again in my viewpoint start to begin to swallow up the traditional monetary system and i don’t suggest that everything else is going to disappear i suggest my feeling is banks and the crypto that the protocols and whatever are going to begin interacting they’re going to begin incorporating together which’s where you’re visiting a great deal of this value so there’s a lot money 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 ultimately it’s just going to be called the financial system due to the fact that it’s just a it’s basically a database in a network you get informed and again when you get informed have a financial investment thesis here’s what i like to invest in here’s what i don’t this is a clip from our webinar exclusively broadcast for etoro us club members our webinars let members straight communicate with our visitors utilizing a q a and any person or you can sign up with etoro club and u.s club members get a bunch of benefits such as an etoro swag bag unique 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 real life etoro occasions make sure to take a look at the description for any promotional deals and to learn more about our fantastic visitors i’ll see you in etoro us’s club Das Neue Etoro.