There’s all these new cryptos is continuously flooding in…Etoro Bank… i mean how do you do with this deluge of unique cryptocurrency um well well it’s a lot of that truthfully has to do with education so you if you learn the the very essentials here’s how bitcoin works and and we speak with a great deal of once again financial advisors here’s just how bitcoin works and once you comprehend bitcoin you understand things like blockchain innovation you comprehend transparency and immutability and all those things and then you begin to enter what is the investment thesis behind bitcoin and that is 80 of the video game right there 80 of understanding these other crypto currencies comes from understanding how bitcoin functions then you enter that you understand all these new tokens all these brand-new cryptocurrencies some of them are actually just there to try to where they have no performance 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 originates from education understanding and again going back to an investment thesis honestly and stating i’m not going to purchase anything even if i saw some guy 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 discover where it fits for me um i you know naturally need to do a lot 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 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 heard of that i get a huge ego and i’m like how might i not have actually become aware of that but i have it and somehow it gets noted and there are most likely lots of other individuals saying the exact same aspects of cryptos that i understand a lot about due to the fact that i i tend to look at a lot of defy stuff i tend to look a lot of those tokens so the the method i look at it is one there are a few methods one is i try to inform myself as much as possible and after that have an idea of what i like to learn more about and like to purchase what do i like to invest in do i like to purchase 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 know a great deal of people made money on shiba inu i know a great deal 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 must or they should not because there are a great deal of individuals that have actually succeeded i pick not to do that a person since they’re they trade remember 24 7 365.
i do not wish to go to sleep one night and i’m up here and get up and i’m down here because what will happen is i’ll never sleep again and again from an emotional 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 understand find out why i might be interested why they may have worth and honestly guy it simply takes a lot of education the other thing i’ll state about that genuine rapidly is you hear a great deal of people who don’t understand a lot about crypto or or are actually against it saying stating i don’t comprehend how there can be all these cryptocurrencies one of them needs 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 particular 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 needs to have his own it it needs to have its own currency to function effectively so it so if we feel and and look this this enters into a bit of an opinion i’m a huge defy person i love decentralized financing and part of the reason is because i’ve been in financing for so long and i understand where the inadequacies are and i know if we can take a few of those inadequacies out of the system and we can use blockchain innovation to do it that would be fantastic the thing is the blockchain technology is not efficient 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 need to have the cryptocurrency the currency of the network to make it efficient so there is to me not quite fact to the assertion that because there’s all these cryptocurrencies there’s a limited quantity 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 once again in my viewpoint start to begin to swallow up the traditional financial system and i don’t suggest that everything else is going to go away i mean my feeling is banks and the crypto that the protocols and whatever are going to start interacting they’re going to start integrating together and that’s where you’re visiting a lot of this worth so there’s so much money in the standard 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 eventually it’s just going to be called the monetary system since it’s simply a it’s basically a database in a network you get informed and once again when you get educated 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 solely relayed for etoro us club members our webinars let members straight interact with our guests 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 special access to our monthly webinars quarterly market reports and a devoted account manager if you join our greater tiers you can also get things like a subscription of the wall street journal delta pro and exclusive invitations to irl yes reality etoro occasions be sure to check out the description for any promotional offers and to get more information about our remarkable guests i’ll see you in etoro us’s club Etoro Bank.