There’s all these brand-new cryptos is constantly flooding in…Etoro Automatic Reinvestment… i suggest how do you finish with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly has to do with education so you if you learn the the really basics here’s how bitcoin works and and we speak to a lot of once again financial advisors here’s just how bitcoin works and when you comprehend bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and after that you start to enter what is the financial investment thesis behind bitcoin which is 80 of the video game right there 80 of understanding these other crypto currencies originates 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 actually just there to try to where they have no functionality it’s just we hope
that the rate tomorrow is higher than the price today that’s the only factor you’re getting into it and that comes from education understanding and again going back to an investment thesis truthfully and stating i’m not going to invest in 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 learn what it is and learn where it fits for me um i you understand obviously need to do a 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 weekly i see a brand-new one being listed on some exchange and i’m and i go i have actually never ever even i can’t think i have actually never become aware of that i get a big ego and i’m like how could i not have heard of that however i have it and somehow it gets listed and there are most likely tons of other people saying the exact same aspects of cryptos that i understand a lot about because i i tend to look at a lot 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 methods one is i attempt to educate myself as much as possible and then have a concept of what i like to learn about and like to invest in what do i like to purchase do i like to purchase the ones that have some sort of capital or liquidity protocol or something like that so comprehending those i do not like to buy some that are simply just simply you know pumps like pump schemes or something i know a lot of people made 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 anybody they need to or they should not because there are a lot of individuals that have done well 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 bed one night and i’m up here and awaken and i’m down here because what will take place is i’ll never sleep again and again from an emotional viewpoint i don’t want that i i attempt to learn quite a bit about the ones that i’m interested in or learn you know 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 quickly is you hear a lot of people who don’t understand a lot about crypto or or are really against it saying saying i do not understand how there can be all these cryptocurrencies one of them needs 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 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 a bit of an opinion i’m a huge defy person i love decentralized finance and part of the reason is because i have actually been in finance for so long and i know where the inefficiencies are and i understand if we can take a few of those inefficiencies out of the system and we can utilize blockchain technology to do it that would be terrific the thing is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain technology be really effective operating on dollars operating 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 reality to the assertion that since 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 start to engulf the traditional monetary system and i don’t mean that whatever else is going to disappear i indicate my sensation is banks and the crypto that the protocols and whatever are going to begin collaborating they’re going to begin integrating together and that’s where you’re visiting a good deal of this worth so there’s so much money in the conventional finance 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 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 educated and again as soon as you get educated have an investment thesis here’s what i like to buy here’s what i don’t this is a clip from our webinar exclusively transmitted for etoro us club members our webinars let members straight connect with our visitors utilizing a q a and anybody 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 month-to-month webinars quarterly market reports and a dedicated account supervisor if you join our greater tiers you can also get things like a membership of the wall street journal delta pro and unique invitations to irl yes reality etoro occasions make certain to take a look at the description for any marketing offers and to read more about our amazing guests i’ll see you in etoro us’s club Etoro Automatic Reinvestment.