There’s all these brand-new cryptos is continuously flooding in…Etoro Community Coin Of The Month… i mean how do you make 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 learn the the very fundamentals here’s how bitcoin works and and we talk with a lot of again financial consultants here’s simply how bitcoin works and as soon as you comprehend bitcoin you comprehend things like blockchain technology you comprehend transparency and immutability and all those things and then you start to enter into what is the investment thesis behind bitcoin which is 80 of the game right there 80 of comprehending these other crypto currencies originates from comprehending how bitcoin functions then you enter into that you know all these brand-new tokens all these new cryptocurrencies a few of them are literally just there to attempt to where they have no performance it’s simply we hope
that the cost 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 truthfully and saying i’m not going to purchase 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 study and learn what it is and learn where it suitables for me um i you know obviously have 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’ve never ever even i can’t think i have actually never heard of that i get a huge ego and i’m like how could i not have become aware of that but i have it and somehow it gets listed and there are most likely lots of other individuals saying the very same features of cryptos that i understand a lot about due to the fact that i i tend to take a look at a great deal of defy stuff i tend to look a great deal 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 then have an idea of what i like to learn more about and like to purchase what do i like to purchase do i like to purchase the ones that have some sort of capital or liquidity protocol or something like that so understanding those i don’t like to buy some that are simply just purely you know pumps like pump schemes or something i understand a lot of individuals earned money on shiba inu i know a lot of individuals earned money on dogecoin that’s great to hear i do not 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 lot of individuals that have done well i select 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 since what will happen is i’ll never ever sleep again and again from a psychological viewpoint i do not want that i i try to learn quite a bit about the ones that i have an interest in or discover you know learn why i might be interested why they might have value and truthfully guy it just takes a whole lot of education the other thing i’ll say about that real rapidly is you hear a lot of individuals who don’t comprehend a lot about crypto or or are really against it saying saying i don’t comprehend how there can be all these cryptocurrencies among them needs to win but that’s that’s not the case they are all they they can or many 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 economic network fine 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 effectively so it so if we feel and and look this this gets into a little bit of a viewpoint i’m a huge defy man i love decentralized finance and part of the factor is due to the fact that i’ve remained in finance for so long and i know where the inadequacies are and i know if we can take some of those ineffectiveness out of the system and we can use blockchain technology to do it that would be fantastic the important things is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain innovation be truly effective running on dollars running 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 restricted 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 once again in my viewpoint start to start to swallow up the conventional financial system and i do not mean that whatever else is going to disappear i imply 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 lot of this value so there’s so much money in the traditional 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 ultimately 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 informed and once again as soon as you get educated have a financial investment thesis here’s what i like to invest in here’s what i do not this is a clip from our webinar specifically relayed for etoro us club members our webinars let members straight interact with our visitors utilizing a q a and anybody or you can join etoro club and u.s club members get a bunch of perks such as an etoro swag bag exclusive access to our monthly webinars quarterly market reports and a devoted account manager if you join our greater 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 occasions be sure to take a look at the description for any marketing offers and to find out more about our incredible visitors i’ll see you in etoro us’s club Etoro Community Coin Of The Month.