There’s all these brand-new cryptos is constantly flooding in…Etoro Show High And Low… i suggest how do you do with this deluge of unique cryptocurrency um well well it’s a great deal of that truthfully is about education so you if you discover the the really basics here’s how bitcoin works and and we speak with a great deal of once again monetary advisors here’s simply how bitcoin works and once you comprehend bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and then you start to get into what is the financial investment thesis behind bitcoin which is 80 of the video game right there 80 of understanding these other crypto currencies originates from understanding how bitcoin functions then you enter into that you know all these brand-new tokens all these new cryptocurrencies a few of them are literally simply there to attempt to where they have no performance it’s just we hope
that the cost tomorrow is higher than the cost today that’s the only factor you’re getting into it and that originates from education understanding and once again going back to a financial investment thesis truthfully and saying 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 study and find out what it is and learn where it suitables for me um i you understand of course need 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 noted on some exchange and i’m and i go i’ve never ever even i can’t believe i’ve never become aware of that i get a big ego and i resemble how could i not have heard of that however i have it and somehow it gets noted and there are most likely lots of other people saying the exact same features of cryptos that i understand a lot about because i i tend to take a look at a great deal of defy things i tend to look a great deal of those tokens so the the way i look at it is one there are a few methods one is i attempt to educate myself as much as possible and after that have an idea of what i like to learn about and like to purchase what do i like to buy do i like to buy the ones that have some sort of capital or liquidity procedure or something like that so understanding those i don’t like to invest in some that are just just purely you know pumps like pump plans or something i know a lot of people earned money on shiba inu i know a great deal of individuals earned money on dogecoin that’s fantastic to hear i don’t want to do that that that’s not me i choose not to and i’m not telling anybody they need to or they should not because there are a lot of people that have actually done well i select not to do that a person because they’re they trade remember 24 7 365.
i do not wish to go to bed one night and i’m up here and wake up and i’m down here because what will happen is i’ll never sleep again and again from a psychological standpoint i don’t want that i i attempt to learn quite a bit about the ones that i’m interested in or discover you understand learn why i might be interested why they may have worth and truthfully guy it just takes a great deal of education the other thing i’ll state about that real rapidly is you hear a lot of people who don’t understand a lot about crypto or or are actually against it stating saying i don’t comprehend 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 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 an entire network there and it has to have his own it it needs to have its own currency to operate effectively so it so if we feel and and look this this enters a little bit of a viewpoint i’m a big defy person i love decentralized finance and part of the factor is due to the fact that i have actually remained in financing for so long and i understand where the ineffectiveness are and i understand if we can take a few of those inefficiencies out of the system and we can use blockchain innovation 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 innovation be actually effective working on dollars working 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 quite reality to the assertion that since there’s all these cryptocurrencies there’s a minimal amount 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 once again in my opinion start to begin to swallow up the traditional monetary system and i do not suggest that everything else is going to disappear i imply my sensation is banks and the crypto that the protocols and whatever are going to start interacting they’re going to start incorporating together which’s where you’re visiting a great deal of this worth so there’s a lot money in the traditional finance 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 eventually it’s just going to be called the financial system due to the fact that it’s just a it’s basically a database in a network you get informed and once again as soon as you get informed have an investment thesis here’s what i like to purchase here’s what i don’t this is a clip from our webinar exclusively broadcast for etoro us club members our webinars let members straight interact with our guests utilizing a q a and anyone or you can sign up with etoro club and u.s club members get a lot of advantages such as an etoro boodle bag special access to our monthly webinars quarterly market reports and a dedicated 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 invites to irl yes real life etoro occasions make sure to take a look at the description for any promotional offers and to find out more about our fantastic guests i’ll see you in etoro us’s club Etoro Show High And Low.