There’s all these brand-new cryptos is constantly flooding in…Etoro Vs Kucoin… i mean how do you finish with this deluge of novel cryptocurrency um well well it’s a lot of that truthfully is about education so you if you learn the the really basics here’s how bitcoin works and and we talk with a great deal of again monetary consultants here’s just how bitcoin works and once you understand bitcoin you understand things like blockchain innovation you comprehend openness and immutability and all those things and then you start to enter what is the investment thesis behind bitcoin and that is 80 of the game right there 80 of understanding these other crypto currencies comes from understanding how bitcoin functions then you get into that you know all these new tokens all these new cryptocurrencies some of them are literally just there to attempt to where they have no performance it’s simply we hope
that the price tomorrow is higher than the cost today that’s the only factor you’re entering into it which comes from education understanding and once again returning to a financial investment thesis truthfully and stating i’m not going to buy 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 find out what it is and discover where it fits for me um i you know of course need 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 each 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 think i’ve never heard of that i get a huge ego and i’m like how could i not have become aware of that but i have it and in some way it gets listed and there are probably lots of other individuals stating the exact same aspects of cryptos that i understand a lot about due to the fact that i i tend to take a look at a lot of defy stuff i tend to look a lot of those tokens so the the way i take a look at it is one there are a few methods one is i attempt to educate myself as much as possible and then have an idea of what i like to learn about and like to purchase what do i like to buy 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 simply just purely you know pumps like pump plans or something i understand a great deal of individuals earned money on shiba inu i understand a lot of people made money on dogecoin that’s terrific to hear i don’t wish to do that that that’s not me i select not to and i’m not telling anybody they need to or they shouldn’t because there are a great deal of people that have actually done well i choose not to do that one since they’re they trade keep in mind 24 7 365.
i do not want to go to sleep one night and i’m up here and awaken and i’m down here because what will occur is i’ll never ever sleep again and again from a psychological standpoint i do not want that i i attempt to learn a fair bit about the ones that i’m interested in or learn you understand learn why i might be interested why they might have worth and honestly man it just takes a great deal of education the other thing i’ll say about that real quickly is you hear a great deal of individuals who don’t comprehend a lot about crypto or or are actually against it saying stating i do not comprehend how there can be all these cryptocurrencies among them has 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 many 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 all right 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 requires to have its own currency to work effectively so it so if we feel and and look this this gets into a little bit of a viewpoint i’m a huge defy man i love decentralized financing and part of the reason is because i’ve remained in finance for so long and i understand where the inadequacies 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 great the important things is the blockchain innovation is not efficient without the currency that runs the network you can’t have the blockchain innovation be actually effective operating on dollars operating on us dollars over the banking system you have 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 since 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 again in my opinion start to start to swallow up the conventional financial system and i do not indicate that everything else is going to go away i suggest my sensation is banks and the crypto that the protocols and whatever are going to start collaborating they’re going to begin incorporating together which’s where you’re going to see a great deal of this worth so there’s a lot money in the standard finance 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 just going to be called the financial system due to the fact that it’s simply a it’s essentially a database in a network you get educated and again once you get informed have an investment thesis here’s what i like to buy here’s what i do not this is a clip from our webinar solely relayed for etoro us club members our webinars let members straight communicate with our visitors utilizing a q a and anybody or you can sign up with etoro club and u.s club members get a bunch of benefits such as an etoro swag bag exclusive access to our regular monthly webinars quarterly market reports and a devoted account manager if you join our higher tiers you can likewise get things like a subscription of the wall street journal delta pro and special invites to irl yes real life etoro events be sure to have a look at the description for any advertising offers and to learn more about our incredible guests i’ll see you in etoro us’s club Etoro Vs Kucoin.