There’s all these brand-new cryptos is continuously flooding in…Etoro Manual… i suggest how do you make 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 extremely fundamentals here’s how bitcoin works and and we talk to a lot of again financial advisors here’s simply how bitcoin works and once you comprehend bitcoin you understand things like blockchain technology you understand transparency and immutability and all those things and after that you start to enter what is the investment thesis behind bitcoin which is 80 of the game right there 80 of understanding these other crypto currencies comes from comprehending how bitcoin functions then you get into that you understand all these brand-new tokens all these new cryptocurrencies a few of them are literally simply there to try to where they have no performance it’s simply we hope
that the rate tomorrow is higher than the price today that’s the only reason you’re getting into it which comes from education understanding and again returning to an investment thesis truthfully and stating i’m not going to purchase 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 and find out what it is and learn where it suitables for me um i you know naturally need to do a great deal of research study i can’t keep up with probably ten percent of the the tokens and cryptos that come out uh every week i see a new one being noted on some exchange and i’m and i go i’ve never ever even i can’t believe i have actually never ever heard of that i get a big ego and i’m like how might i not have actually heard of that however i have it and in some way it gets listed and there are most likely tons of other people stating the exact same features of cryptos that i know a lot about because i i tend to take a look at a lot of defy things i tend to look a great deal 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 then have an idea of what i like to learn about and like to invest in what do i like to invest in do i like to buy 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 just simply you know pumps like pump schemes or something i understand a lot of individuals made money on shiba inu i know a great deal of individuals made money on dogecoin that’s terrific to hear i do not wish to do that that that’s not me i pick not to and i’m not telling anybody they must or they shouldn’t because there are a lot of people that have succeeded i choose not to do that a person because they’re they trade remember 24 7 365.
i don’t want to go to sleep one night and i’m up here and awaken and i’m down here since what will take place is i’ll never ever 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’m interested in or discover you understand discover why i might be interested why they may have value and truthfully guy it just takes a whole lot of education the other thing i’ll say about that real quickly is you hear a lot of individuals who do not comprehend a lot about crypto or or are actually versus it saying stating i don’t understand how there can be all these cryptocurrencies one of 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 much 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 economic network fine if eth is the currency of the ethereum network so there’s a whole network there and it has to have his own it it needs to have its own currency to operate efficiently so it so if we feel and and look this this gets into a bit of an opinion i’m a big defy man i love decentralized finance and part of the factor is due to the fact that i’ve remained in finance for so long and i understand where the inadequacies are and i know if we can take a few of those inefficiencies out of the system and we can use blockchain technology to do it that would be excellent the thing is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain technology be really efficient 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 efficient so there is to me not very much reality to the assertion that because there’s all these cryptocurrencies there’s a minimal amount of dollars that’s going to enter 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 monetary system and i do not mean that everything else is going to go away i imply my sensation is banks and the crypto that the procedures and whatever are going to start working together they’re going to begin incorporating together and that’s where you’re going to see a lot of this value so there’s a lot cash in the conventional financing system that’s going to make its way into what we currently call the crypto system or the
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Defi system and ultimately it’s just going to be called the financial system because it’s simply a it’s essentially a database in a network you get educated and once again when you get educated have an investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar solely broadcast for etoro us club members our webinars let members directly interact with our visitors using a q a and anybody or you can sign up with etoro club and u.s club members get a bunch of perks such as an etoro swag bag special access to our month-to-month webinars quarterly market reports and a devoted account manager if you join our higher tiers you can also get things like a membership of the wall street journal delta pro and unique invites to irl yes reality etoro events make certain to take a look at the description for any advertising deals and to get more information about our fantastic guests i’ll see you in etoro us’s club Etoro Manual.