There’s all these new cryptos is constantly flooding in…Fullscreen Etoro Pro… i imply how do you do with this deluge of novel cryptocurrency um well well it’s a lot of that honestly is about education so you if you learn the the very basics here’s how bitcoin works and and we talk with a lot of once again financial consultants here’s just how bitcoin works and as soon as you understand bitcoin you understand things like blockchain innovation you comprehend openness and immutability and all those things and after that you begin to enter into what is the investment thesis behind bitcoin which is 80 of the video game right there 80 of comprehending these other crypto currencies comes from understanding how bitcoin functions then you enter into that you know all these new tokens all these new cryptocurrencies a few of them are literally simply there to try to where they have no functionality it’s just we hope
that the rate tomorrow is higher than the cost today that’s the only reason you’re entering it and that originates from education understanding and once again going back to a financial investment thesis honestly and saying i’m not going to buy 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 study and discover what it is and discover where it suitables for me um i you know naturally have to do a whole 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 noted on some exchange and i’m and i go i have actually never ever even i can’t believe i’ve never heard of that i get a big ego and i’m like how might i not have actually become aware of that but i have it and in some way it gets listed and there are most likely lots of other people stating the same aspects of cryptos that i understand a lot about since i i tend to look at a lot 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 try to inform myself as much as possible and after that have a concept of what i like to find out about and like to buy what do i like to buy do i like to buy the ones that have some sort of cash flow or liquidity procedure or something like that so comprehending those i do not like to invest in some that are simply just purely you know pumps like pump schemes or something i know a lot of people made money on shiba inu i know a lot of individuals earned money on dogecoin that’s terrific to hear i don’t want to do that that that’s not me i select not to and i’m not telling anyone they should or they shouldn’t because there are a lot of individuals that have actually succeeded i pick not to do that a person because they’re they trade keep in mind 24 7 365.
i don’t wish to go to bed one night and i’m up here and awaken and i’m down here because 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 a fair bit about the ones that i have an interest in or discover you know find out why i might be interested why they might have worth and truthfully guy it simply takes a lot of education the other thing i’ll say about that genuine quickly is you hear a lot of people who don’t understand a lot about crypto or or are actually against it saying stating i don’t understand how there can be all these cryptocurrencies one of them needs 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 a lot 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 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 enters a little bit of a viewpoint i’m a huge defy man i love decentralized finance and part of the factor is because i have actually remained in finance for so long and i understand where the inadequacies are and i understand if we can take a few of those inadequacies out of the system and we can utilize blockchain technology to do it that would be excellent 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 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 effective so there is to me not very much truth to the assertion that since there’s all these cryptocurrencies there’s a limited amount of dollars that’s going to enter into them so i got to figure out which one’s going to be the winner it is going to again in my opinion start to start to engulf the traditional financial system and i do not imply that everything else is going to disappear i mean my feeling is banks and the crypto that the procedures and everything are going to begin working together they’re going to start integrating together and that’s where you’re going to see a great deal of this value so there’s a lot 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 just going to be called the monetary system because it’s just a it’s basically a database in a network you get informed and once again as soon as 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 specifically broadcast for etoro us club members our webinars let members directly communicate with our visitors using a q a and anyone or you can join etoro club and u.s club members get a lot of advantages such as an etoro swag bag unique access to our month-to-month webinars quarterly market reports and a devoted account supervisor if you join our higher tiers you can also get things like a subscription of the wall street journal delta pro and special invitations to irl yes real life etoro events be sure to take a look at the description for any marketing deals and for more information about our amazing visitors i’ll see you in etoro us’s club Fullscreen Etoro Pro.