There’s all these brand-new cryptos is constantly flooding in…Force Index In Etoro… i mean how do you make with this deluge of unique cryptocurrency um well well it’s a lot of that honestly has to do with education so you if you discover the the very essentials here’s how bitcoin works and and we speak with a lot of once again monetary advisors here’s simply how bitcoin works and once you understand bitcoin you understand things like blockchain technology you comprehend openness and immutability and all those things and then you begin to get into 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 enter that you know all these new tokens all these new cryptocurrencies some of them are actually just there to try to where they have no functionality it’s simply we hope
that the cost tomorrow is higher than the price today that’s the only factor you’re getting into it and that originates from education understanding and again going back to an investment thesis truthfully and saying i’m not going to invest in anything even if i saw some man pumping it on tick tock or i saw somebody pumping it on twitter i’m going to do my research study and find out what it is and discover where it suitables for me um i you understand obviously have to do a lot of research i can’t stay up to date 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’ve never ever heard of that i get a huge ego and i’m like how might i not have actually heard of that however i have it and somehow it gets noted and there are probably tons of other people saying the exact same aspects of cryptos that i know a lot about since i i tend to look at a lot of defy things i tend to look a lot of those tokens so the the method i look at it is one there are a few methods one is i try to educate myself as much as possible and after that have a concept of what i like to discover and like to invest in what do i like to purchase 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 invest in some that are just simply purely you understand pumps like pump schemes or something i know a lot of individuals made money on shiba inu i understand a great deal of people made money 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 should or they shouldn’t because there are a lot of individuals that have done well i choose not to do that one because they’re they trade keep in mind 24 7 365.
i don’t want to go to sleep 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 an emotional standpoint i do not want that i i try to find out a fair bit about the ones that i’m interested in or discover you understand find out why i might be interested why they might have worth and truthfully guy it simply takes a great deal of education the other thing i’ll state about that real quickly is you hear a great deal of individuals who don’t understand a lot about crypto or or are truly versus it stating saying i don’t comprehend 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 many 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 an entire network there and it needs to have his own it it requires to have its own currency to work efficiently so it so if we feel and and look this this gets into a little bit of an opinion i’m a huge defy person i love decentralized financing and part of the reason is because i have actually remained in financing for so long and i understand where the inadequacies are and i know 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 thing is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain innovation be truly effective working on dollars running 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 quite fact 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 determine which one’s going to be the winner it is going to again in my viewpoint start to start to engulf the traditional monetary system and i do not mean that everything else is going to disappear i suggest my feeling is banks and the crypto that the protocols and everything are going to begin working together they’re going to start integrating together which’s where you’re going to see a great deal of this worth so there’s so much cash in the traditional 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 eventually it’s simply going to be called the monetary system due to the fact that it’s just a it’s essentially 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 invest in here’s what i do not this is a clip from our webinar specifically transmitted for etoro us club members our webinars let members straight interact with our guests utilizing a q a and anybody or you can join etoro club and u.s club members get a bunch of benefits such as an etoro swag bag unique access to our month-to-month webinars quarterly market reports and a devoted account manager if you join our higher tiers you can likewise get things like a membership of the wall street journal delta pro and exclusive invitations to irl yes real life etoro events make sure to have a look at the description for any marketing deals and to find out more about our fantastic visitors i’ll see you in etoro us’s club Force Index In Etoro.