There’s all these brand-new cryptos is continuously flooding in…Tobin Tax Etoro… i mean how do you do with this deluge of novel cryptocurrency um well well it’s a lot of that truthfully has to do with education so you if you discover the the really basics here’s how bitcoin works and and we talk to a lot of once again financial advisors here’s simply how bitcoin works and as soon as you comprehend bitcoin you understand things like blockchain technology you understand transparency and immutability and all those things and then you begin to get into what is the financial investment thesis behind bitcoin and that is 80 of the game right there 80 of comprehending these other crypto currencies originates from comprehending how bitcoin functions then you enter that you understand all these new tokens all these new cryptocurrencies a few of them are literally just there to try to where they have no functionality it’s simply we hope
that the rate tomorrow is higher than the cost today that’s the only reason you’re entering into it which comes from education understanding and once again going back to a financial investment thesis honestly and saying i’m not going to buy 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 and learn what it is and learn where it suitables for me um i you know obviously need to do a whole lot of research study i can’t keep up 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 ever become aware of that i get a huge ego and i’m like how could i not have actually heard of that however i have it and in some way it gets listed and there are probably lots of other individuals saying the very same features 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 lot of those tokens so the the way i take a look at it is one there are a few methods one is i try to educate myself as much as possible and then have an idea of what i like to discover and like to purchase what do i like to purchase 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 do not like to invest in some that are simply just purely you understand pumps like pump schemes or something i know a lot of individuals made money on shiba inu i understand a lot of people made money on dogecoin that’s great to hear i don’t wish to do that that that’s not me i choose not to and i’m not telling anyone they ought to or they shouldn’t because there are a lot of individuals that have succeeded i pick not to do that a person due to the fact that 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 happen is i’ll never sleep again and again from a psychological perspective i do not want that i i attempt to discover quite a bit about the ones that i’m interested in or discover you understand discover why i might be interested why they might have value and honestly man it just takes a whole lot of education the other thing i’ll say about that real quickly is you hear a lot of people who do not understand a lot about crypto or or are really versus it saying saying i don’t understand how there can be all these cryptocurrencies among 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 much 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 financial 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 needs to have its own currency to operate efficiently so it so if we feel and and look this this enters into a bit of an opinion i’m a huge defy guy i love decentralized finance and part of the reason is because i have actually remained in finance for so long and i understand where the inadequacies are and i know if we can take a few of those inadequacies out of the system and we can utilize blockchain innovation to do it that would be excellent the important things is the blockchain innovation is not effective without the currency that runs the network you can’t have the blockchain innovation be really efficient running on dollars working on us dollars over the banking system you need to have the cryptocurrency the currency of the network to make it efficient so there is to me not quite fact to the assertion that since there’s all these cryptocurrencies there’s a minimal amount of dollars that’s going to go 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 start to swallow up the traditional financial system and i do not imply that whatever else is going to go away i suggest my sensation is banks and the crypto that the protocols and everything are going to begin collaborating they’re going to begin integrating together and that’s where you’re going to see a lot of this value so there’s a lot money in the traditional financing system that’s going to make its method 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 due to the fact that it’s simply a it’s essentially a database in a network you get informed and again once you get informed have an investment thesis here’s what i like to buy here’s what i don’t this is a clip from our webinar exclusively broadcast for etoro us club members our webinars let members directly communicate with our visitors using a q a and anyone or you can sign up with etoro club and u.s club members get a lot of benefits such as an etoro swag bag special access to our monthly webinars quarterly market reports and a dedicated account supervisor if you join our greater 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 occasions make certain to have a look at the description for any promotional deals and for more information about our amazing guests i’ll see you in etoro us’s club Tobin Tax Etoro.