There’s all these new cryptos is constantly flooding in…Apps Like Etoro For Latin America… i suggest how do you do with this deluge of unique cryptocurrency um well well it’s a great deal of that truthfully has to do with education so you if you find out the the extremely basics here’s how bitcoin works and and we talk to a great deal of again monetary consultants here’s simply how bitcoin works and as soon as you understand bitcoin you comprehend things like blockchain technology you understand openness and immutability and all those things and then you start 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 comprehending how bitcoin functions then you enter that you understand all these new tokens all these brand-new cryptocurrencies some of them are literally simply there to try to where they have no performance it’s simply we hope
that the price tomorrow is higher than the price today that’s the only factor you’re entering into it and that comes from education understanding and once again going back to an investment thesis honestly and saying i’m not going to invest in anything even if i saw some dude pumping it on tick tock or i saw somebody pumping it on twitter i’m going to do my research study and learn what it is and learn where it fits for me um i you know naturally have 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 every week i see a new one being listed on some exchange and i’m and i go i’ve never ever even i can’t think i have actually never become aware 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 features of cryptos that i know a lot about because i i tend to look at a lot of defy stuff i tend to look a lot of those tokens so the the method 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 after that have an idea of what i like to learn about and like to invest in what do i like to purchase do i like to invest in 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 just just simply you know pumps like pump schemes or something i know a lot of people generated income on shiba inu i understand a lot of people earned money on dogecoin that’s terrific to hear i don’t wish to do that that that’s not me i pick not to and i’m not telling anybody they should or they should not because there are a great deal of people that have actually succeeded i pick not to do that a person 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 wake up and i’m down here due to the fact that what will occur is i’ll never sleep again and again from a psychological viewpoint i do not want that i i try to discover a fair bit about the ones that i have an interest in or learn you understand discover 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 rapidly is you hear a great deal of people who don’t understand a lot about crypto or or are actually against it saying saying i don’t understand how there can be all these cryptocurrencies one of them needs to win but that’s that’s not the case they are all they they can or a number of them can exist on their own much of them are a currency that is for a particular 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 financial 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 function efficiently so it so if we feel and and look this this gets into a little bit of a viewpoint i’m a huge defy guy i love decentralized financing and part of the reason is due to the fact that i’ve remained in financing for so long and i know where the ineffectiveness 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 technology be really effective operating on dollars running 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 quite reality to the assertion that because there’s all these cryptocurrencies there’s a minimal quantity of dollars that’s going to go into them so i got to figure out which one’s going to be the winner it is going to once again in my viewpoint start to begin to swallow up the standard financial system and i do not imply that everything else is going to disappear i suggest my feeling is banks and the crypto that the procedures and everything are going to start collaborating they’re going to start integrating together which’s where you’re visiting a great deal of this value so there’s a lot money 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 ultimately it’s simply going to be called the financial system because it’s simply a it’s essentially a database in a network you get educated and once again once you get educated have a financial investment thesis here’s what i like to invest in here’s what i don’t this is a clip from our webinar exclusively broadcast for etoro us club members our webinars let members straight connect with our visitors using 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 unique access to our regular monthly webinars quarterly market reports and a dedicated account manager if you join our greater tiers you can also get things like a membership of the wall street journal delta pro and unique invites to irl yes real life etoro occasions make sure to check out the description for any marketing deals and for more information about our incredible guests i’ll see you in etoro us’s club Apps Like Etoro For Latin America.