There’s all these new cryptos is constantly flooding in…Etoro Is Legi… i mean how do you make with this deluge of novel cryptocurrency um well well it’s a lot of that truthfully has to do with education so you if you learn the the very fundamentals here’s how bitcoin works and and we talk to a great deal of again monetary advisors here’s just how bitcoin works and when you understand bitcoin you understand things like blockchain technology you understand transparency and immutability and all those things and then you begin to get into what is the financial investment thesis behind bitcoin and that is 80 of the game right there 80 of understanding these other crypto currencies originates from comprehending how bitcoin functions then you get into that you know all these new tokens all these brand-new cryptocurrencies a few of them are actually just there to attempt to where they have no functionality it’s just we hope
that the cost tomorrow is higher than the rate today that’s the only reason you’re entering it which comes from education understanding and again going back to a financial investment thesis honestly and saying i’m not going to invest in 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 study and learn what it is and find out where it suitables for me um i you understand naturally have to do a great deal of research i can’t keep up 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’ve never even i can’t think i’ve never ever heard of that i get a huge ego and i resemble how could i not have actually become aware of that however i have it and somehow it gets noted and there are most likely tons of other individuals stating the exact same things about cryptos that i know 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 method i look at it is one there are a couple of ways one is i attempt to educate myself as much as possible and then have an idea of what i like to find out 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 purchase some that are just simply simply you know pumps like pump plans or something i understand a great deal of individuals made money on shiba inu i understand a lot of people made money on dogecoin that’s excellent to hear i don’t want to do that that that’s not me i select not to and i’m not telling anyone they should or they shouldn’t because there are a lot of people that have done well i choose not to do that a person because they’re they trade keep in mind 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 because what will occur is i’ll never ever sleep again and again from a psychological standpoint i don’t desire that i i attempt to discover a fair bit about the ones that i’m interested in or learn you know find out why i might be interested why they may have value and honestly guy it simply takes a whole lot of education the other thing i’ll state about that real rapidly is you hear a lot of people who do not understand a lot about crypto or or are truly versus it saying stating i don’t understand how there can be all these cryptocurrencies among them needs to win but that’s that’s not the case they are all they they can or much of them can exist on their own many of them are a currency that is for a particular 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 financial network fine 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 requires to have its own currency to function efficiently so it so if we feel and and look this this enters a little bit of a viewpoint i’m a huge defy person i love decentralized financing and part of the reason is due to the fact that i have actually been in financing for so long and i understand where the inefficiencies are and i understand if we can take a few of those ineffectiveness out of the system and we can utilize blockchain technology to do it that would be terrific the important things is the blockchain technology is not efficient 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 need to have the cryptocurrency the currency of the network to make it effective so there is to me not very much fact 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 determine which one’s going to be the winner it is going to once again in my opinion start to start to engulf the traditional monetary system and i don’t suggest that everything else is going to disappear i indicate my feeling is banks and the crypto that the protocols and everything are going to start collaborating they’re going to start integrating together which’s where you’re going to see a lot of this value so there’s a lot cash in the conventional finance 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 eventually it’s simply going to be called the financial system because it’s just a it’s essentially a database in a network you get educated and again once 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 relayed for etoro us club members our webinars let members straight engage 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 unique 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 membership of the wall street journal delta pro and exclusive invites to irl yes reality etoro occasions make sure to check out the description for any promotional deals and for more information about our incredible visitors i’ll see you in etoro us’s club Etoro Is Legi.