There’s all these brand-new cryptos is constantly flooding in…Etoro Konkurrenz… i suggest how do you make with this deluge of novel cryptocurrency um well well it’s a lot 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 talk with a lot of again financial advisors here’s simply how bitcoin works and as soon as you understand bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and then you start to enter what is the financial investment thesis behind bitcoin and that is 80 of the game right there 80 of comprehending these other crypto currencies originates from comprehending how bitcoin functions then you get into that you know all these brand-new tokens all these new cryptocurrencies a few of them are actually simply there to try to where they have no performance it’s just we hope
that the cost tomorrow is higher than the price today that’s the only reason you’re entering into it and that comes from education understanding and once again returning to an investment thesis honestly and stating i’m not going to invest in anything just because i saw some guy pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research study and discover what it is and discover where it suitables for me um i you understand obviously have to do a lot of research study i can’t keep up with most likely ten percent of the the tokens and cryptos that come out uh weekly i see a new one being noted on some exchange and i’m and i go i’ve never even i can’t believe i’ve never heard of that i get a big ego and i’m like how could i not have actually become aware of that but i have it and somehow it gets noted and there are most likely tons of other people stating the same features of cryptos that i know a lot about since i i tend to take a look at a great deal of defy things 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 attempt to inform myself as much as possible and after that have an idea of what i like to discover and like to buy 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 just simply purely you understand pumps like pump schemes or something i know a great deal of individuals earned money on shiba inu i know a lot of individuals made money on dogecoin that’s great 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 great deal of individuals that have succeeded i pick not to do that a person due to the fact that they’re they trade remember 24 7 365.
i do not wish to go to bed one night and i’m up here and get up and i’m down here since what will happen is i’ll never sleep again and again from an emotional viewpoint i do not want that i i attempt to find out a fair bit about the ones that i have an interest in or learn you know discover why i might be interested why they might have value and honestly guy it just takes a lot of education the other thing i’ll say about that real quickly is you hear a great deal of individuals who do not understand a lot about crypto or or are actually versus it saying saying i do not comprehend 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 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 economic 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 function effectively so it so if we feel and and look this this enters a bit of an opinion i’m a big defy person i love decentralized finance and part of the reason is due to the fact that i have actually been in finance for so long and i know where the ineffectiveness are and i know if we can take a few of those ineffectiveness out of the system and we can utilize blockchain innovation to do it that would be great the important things is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain technology be really efficient running on dollars operating on us dollars over the banking system you have to have the cryptocurrency the currency of the network to make it effective so there is to me not very much truth to the assertion that because there’s all these cryptocurrencies there’s a minimal quantity of dollars that’s going to enter into them so i got to determine which one’s going to be the winner it is going to again in my viewpoint start to start to swallow up the standard financial system and i do not imply that whatever else is going to go away i imply my feeling is banks and the crypto that the protocols and whatever are going to start working together they’re going to start incorporating together which’s where you’re visiting a good deal of this value so there’s so much money in the conventional financing system that’s going to make its method into what we currently call the crypto system or the
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Defi system and ultimately it’s simply going to be called the financial system because it’s simply a it’s essentially a database in a network you get educated and again as soon as 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 specifically broadcast for etoro us club members our webinars let members straight engage with our guests utilizing a q a and anybody or you can join etoro club and u.s club members get a bunch of advantages such as an etoro swag bag exclusive access to our regular monthly webinars quarterly market reports and a devoted account supervisor 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 real life etoro occasions make sure to take a look at the description for any advertising offers and for more information about our incredible visitors i’ll see you in etoro us’s club Etoro Konkurrenz.