There’s all these brand-new cryptos is constantly flooding in…Autoview Etoro… i suggest how do you make with this deluge of novel cryptocurrency um well well it’s a lot of that honestly has to do with education so you if you find out the the very essentials here’s how bitcoin works and and we talk with a great deal of once again monetary advisors here’s just how bitcoin works and as soon as you comprehend bitcoin you understand things like blockchain innovation you comprehend transparency and immutability and all those things and after that you start to enter what is the investment thesis behind bitcoin which is 80 of the game right there 80 of understanding these other crypto currencies originates from comprehending how bitcoin functions then you enter that you know all these new tokens all these new cryptocurrencies a few of them are actually simply there to try to where they have no functionality it’s simply we hope
that the rate tomorrow is higher than the price today that’s the only factor you’re entering into it which originates from education understanding and again returning to an investment thesis honestly and saying i’m not going to buy anything just because i saw some guy 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 suitables for me um i you know of course 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 think i have actually never become aware of that i get a huge ego and i resemble how could i not have heard of that however i have it and somehow it gets noted and there are most likely lots of other people saying the very same features of cryptos that i know a lot about since i i tend to take a look at a great deal 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 ways one is i attempt to inform myself as much as possible and then have an idea of what i like to find out about and like to invest in 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 don’t like to purchase some that are just just purely you know pumps like pump plans or something i understand a great deal of people earned money on shiba inu i know a lot of individuals generated income on dogecoin that’s great to hear i don’t want 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 succeeded i pick not to do that a person 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 occur is i’ll never ever sleep again and again from an emotional standpoint i don’t desire that i i try to discover a fair bit about the ones that i’m interested in or learn you understand discover why i might be interested why they may have value and truthfully male it just 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 actually versus it stating stating i do not understand 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 a lot of them are a currency that is for a specific 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 fine if eth is the currency of the ethereum network so there’s an entire network there and it has 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 into a bit of a viewpoint i’m a huge defy man i love decentralized financing and part of the factor is because i have actually been in finance for so long and i know where the ineffectiveness are and i understand if we can take a few of those inefficiencies out of the system and we can use blockchain technology to do it that would be terrific 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 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 limited 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 once again in my opinion start to begin to swallow up the standard financial system and i don’t suggest that whatever else is going to disappear i suggest my feeling is banks and the crypto that the protocols and everything are going to start collaborating they’re going to start incorporating together and that’s where you’re going to see a lot of this worth so there’s so much money in the standard finance system that’s going to make its method into what we currently call the crypto system or the
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Defi system and eventually it’s simply going to be called the financial system because it’s simply a it’s basically a database in a network you get educated and 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 broadcast for etoro us club members our webinars let members directly interact with our guests using a q a and any person or you can sign up with 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 greater tiers you can also get things like a membership of the wall street journal delta pro and special invites to irl yes real life etoro occasions make sure to take a look at the description for any advertising deals and to read more about our fantastic guests i’ll see you in etoro us’s club Autoview Etoro.