There’s all these brand-new cryptos is continuously flooding in…Etoro Vs Coindesk Vs Kraken… i mean how do you finish with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly is about education so you if you discover the the extremely essentials 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 understand bitcoin you understand things like blockchain technology you understand openness and immutability and all those things and after that you begin to get into what is the investment thesis behind bitcoin which is 80 of the game right there 80 of comprehending these other crypto currencies comes from understanding how bitcoin functions then you enter into that you understand all these brand-new tokens all these brand-new cryptocurrencies a few of them are literally just there to try 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 factor you’re entering into it which comes from education understanding and again going back to a financial investment thesis truthfully and saying i’m not going to invest in anything just because i saw some guy pumping it on tick tock or i saw somebody 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 know of course have to do a lot of research i can’t stay up to date with most likely ten percent of the the tokens and cryptos that come out uh weekly i see a new one being listed on some exchange and i’m and i go i have actually never even i can’t think i have actually never ever heard of that i get a huge ego and i’m like how might i not have heard of that however i have it and in some way it gets noted and there are probably lots of other individuals stating the same aspects of cryptos that i understand a lot about because i i tend to look at a great deal of defy things i tend to look a lot of those tokens so the the way i take a look at it is one there are a couple of ways one is i try to educate myself as much as possible and then have a concept of what i like to learn about and like to purchase what do i like to invest in do i like to purchase the ones that have some sort of cash flow or liquidity protocol or something like that so comprehending those i don’t like to purchase some that are simply just simply you know pumps like pump plans or something i know a great deal of people earned money on shiba inu i know a great deal of people generated income on dogecoin that’s fantastic to hear i don’t want to do that that that’s not me i select not to and i’m not telling anybody they must or they shouldn’t because there are a great deal of people 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 sleep one night and i’m up here and get up and i’m down here due to the fact that what will take place is i’ll never sleep again and again from a psychological perspective i do not desire that i i attempt to find out quite a 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 truthfully guy it simply takes a lot of education the other thing i’ll say about that real quickly is you hear a lot of individuals who don’t understand a lot about crypto or or are actually against it saying 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 much of them can exist on their own many of them are a currency that is for a specific 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 okay 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 work effectively so it so if we feel and and look this this gets into a bit of an opinion i’m a big defy guy i love decentralized financing and part of the factor is since i’ve remained in finance for so long and i understand where the inefficiencies are and i understand if we can take a few of those inefficiencies out of the system and we can utilize 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 truly efficient 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 very much reality to the assertion that since there’s all these cryptocurrencies there’s a restricted 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 engulf the standard financial system and i do not imply that whatever else is going to go away i mean my feeling is banks and the crypto that the procedures and whatever are going to start collaborating they’re going to start integrating together which’s where you’re going to see a good deal of this worth so there’s so much money in the traditional financing system that’s going to make its way into what we presently call the crypto system or the
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Defi system and ultimately it’s simply 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 as soon as you get educated have an investment thesis here’s what i like to purchase here’s what i do not this is a clip from our webinar specifically broadcast for etoro us club members our webinars let members directly interact with our guests utilizing a q a and any person or you can join etoro club and u.s club members get a bunch of perks such as an etoro swag bag exclusive access to our monthly webinars quarterly market reports and a dedicated account manager if you join our higher tiers you can likewise get things like a subscription of the wall street journal delta pro and unique invitations to irl yes reality etoro occasions make sure to check out the description for any marketing deals and to find out more about our incredible guests i’ll see you in etoro us’s club Etoro Vs Coindesk Vs Kraken.