There’s all these new cryptos is continuously flooding in…Etoro M Pesa… i suggest how do you do with this deluge of unique cryptocurrency um well well it’s a lot of that honestly is about education so you if you discover the the really fundamentals here’s how bitcoin works and and we speak to a lot of once again monetary advisors here’s simply how bitcoin works and when you understand bitcoin you comprehend things like blockchain technology you comprehend transparency and immutability and all those things and after that you start to get into what is the financial 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 into that you know all these new tokens all these new cryptocurrencies a few of them are literally just there to attempt to where they have no functionality it’s just we hope
that the cost tomorrow is higher than the price today that’s the only reason you’re entering it and that originates from education understanding and once again returning to a financial investment thesis truthfully and saying i’m not going to purchase anything just because i saw some dude pumping it on tick tock or i saw someone pumping it on twitter i’m going to do my research and find out what it is and discover where it fits for me um i you know obviously have to do a great deal of research i can’t keep up with probably ten percent of the the tokens and cryptos that come out uh every week i see a brand-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’m like how could i not have actually heard of that but i have it and somehow it gets noted and there are probably tons of other individuals stating the same things about cryptos that i understand a lot about because i i tend to look at a lot of defy stuff i tend to look a lot of those tokens so the the way i look at it is one there are a couple of methods one is i attempt to educate myself as much as possible and after that have an idea of what i like to learn more about and like to buy what do i like to purchase do i like to purchase the ones that have some sort of cash flow or liquidity protocol or something like that so understanding those i don’t like to invest in some that are just just simply you know pumps like pump plans or something i understand a lot of people earned money on shiba inu i understand a lot of people earned money on dogecoin that’s fantastic to hear i do not want to do that that that’s not me i select not to and i’m not telling anyone they must or they shouldn’t because there are a lot of individuals that have actually done well i choose not to do that one due to the fact that they’re they trade remember 24 7 365.
i don’t want to go to bed one night and i’m up here and wake up and i’m down here due to the fact that what will happen is i’ll never ever sleep again and again from a psychological viewpoint i don’t desire that i i try to learn quite a bit about the ones that i have an interest in or discover you understand learn why i might be interested why they may have worth and truthfully male it just takes a lot of education the other thing i’ll say about that real rapidly is you hear a great deal of people who don’t understand a lot about crypto or or are really versus it stating stating i do not understand 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 a lot of them can exist on their own a lot 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 financial network fine 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 needs to have its own currency to function efficiently so it so if we feel and and look this this enters into a little bit of an opinion i’m a big defy person i love decentralized financing and part of the factor is because i have actually been in financing for so long and i know where the inefficiencies are and i understand if we can take some of those inefficiencies out of the system and we can use blockchain innovation to do it that would be fantastic 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 actually effective running 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 truth to the assertion that because there’s all these cryptocurrencies there’s a restricted amount 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 engulf the traditional financial system and i do not suggest that everything else is going to disappear i mean my sensation is banks and the crypto that the protocols and everything are going to start interacting they’re going to start integrating together and that’s where you’re going to see a good deal of this value so there’s a lot money 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 ultimately 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 educated and once again when you get educated have a financial investment thesis here’s what i like to purchase here’s what i do not this is a clip from our webinar solely relayed for etoro us club members our webinars let members directly communicate with our guests using a q a and any person or you can sign up with etoro club and u.s club members get a bunch of perks such as an etoro boodle bag unique 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 subscription of the wall street journal delta pro and special invites to irl yes reality etoro events be sure to have a look at the description for any advertising offers and to get more information about our amazing visitors i’ll see you in etoro us’s club Etoro M Pesa.