There’s all these new cryptos is constantly flooding in…Destination Tag Etoro… i indicate how do you finish with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly is about education so you if you learn the the very basics here’s how bitcoin works and and we speak to a great deal of again financial consultants here’s simply how bitcoin works and as soon as you understand bitcoin you comprehend things like blockchain innovation you comprehend transparency and immutability and all those things and after that you start to enter what is the investment thesis behind bitcoin which is 80 of the video game right there 80 of comprehending these other crypto currencies originates from understanding how bitcoin functions then you enter into that you know all these brand-new tokens all these brand-new cryptocurrencies a few of them are actually just there to attempt 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 entering it which comes from education understanding and once again going back to a financial investment thesis honestly and stating i’m not going to purchase 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 and learn what it is and learn where it fits for me um i you know naturally have to do a great deal of research study i can’t stay up to date with most likely 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’ve never heard of that i get a big ego and i’m like how might i not have become aware of that however i have it and somehow it gets listed and there are most likely tons of other people saying the same things about cryptos that i know a lot about since i i tend to look at a great deal of defy stuff i tend to look a great deal of those tokens so the the way 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 after that have an idea of what i like to learn about and like to invest in what do i like to buy 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 don’t like to buy some that are simply simply purely you understand pumps like pump plans or something i understand a lot of people made money on shiba inu i understand a lot of people earned money on dogecoin that’s terrific to hear i do not 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 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 get up and i’m down here because 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 discover quite a bit about the ones that i’m interested in or discover you know discover why i might be interested why they might have value and honestly man it just takes a lot of education the other thing i’ll state about that genuine quickly is you hear a great deal of people who don’t comprehend a lot about crypto or or are truly versus it saying stating i don’t comprehend 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 much 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 alright 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 requires to have its own currency to work efficiently so it so if we feel and and look this this enters into a little bit of a viewpoint i’m a big defy man i love decentralized finance and part of the factor is due to the fact that i have actually 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 utilize blockchain innovation to do it that would be fantastic the important things is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain innovation be really efficient operating on dollars working on us dollars over the banking system you need to have the cryptocurrency the currency of the network to make it efficient so there is to me not very much truth to the assertion that due to the fact that there’s all these cryptocurrencies there’s a minimal amount 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 once again in my opinion start to start to swallow up the standard financial system and i do not suggest that whatever else is going to go away i indicate my feeling is banks and the crypto that the procedures and everything are going to start interacting they’re going to start integrating together and that’s where you’re going to see a lot of this value so there’s so much cash in the traditional 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 due to the fact that it’s simply a it’s essentially a database in a network you get informed and again once you get educated have an investment thesis here’s what i like to invest in here’s what i don’t this is a clip from our webinar solely transmitted for etoro us club members our webinars let members directly communicate with our guests using a q a and any person or you can join etoro club and u.s club members get a bunch of perks such as an etoro swag bag special access to our monthly webinars quarterly market reports and a dedicated account supervisor if you join our higher tiers you can also get things like a membership of the wall street journal delta pro and unique invitations to irl yes real life etoro occasions make sure to check out the description for any marketing offers and to read more about our incredible visitors i’ll see you in etoro us’s club Destination Tag Etoro.