There’s all these brand-new cryptos is continuously flooding in…Etoro Guru… i suggest how do you do with this deluge of unique cryptocurrency um well well it’s a great deal of that honestly has to do with education so you if you discover the the really fundamentals here’s how bitcoin works and and we speak to a great deal of once again monetary consultants here’s simply how bitcoin works and when you comprehend bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and then you begin to enter into what is the financial investment thesis behind bitcoin which is 80 of the game right there 80 of understanding these other crypto currencies comes from understanding how bitcoin functions then you enter that you understand all these new tokens all these brand-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 rate today that’s the only reason you’re getting into it and that originates from education understanding and again returning to an investment thesis honestly and saying i’m not going to invest in anything even if i saw some guy pumping it on tick tock or i saw somebody pumping it on twitter i’m going to do my research and find out what it is and learn where it fits for me um i you understand of course have to do a great deal of research study i can’t stay up to date with most likely ten percent of the the tokens and cryptos that come out uh each week i see a new one being noted on some exchange and i’m and i go i have actually never even i can’t think i’ve never heard of that i get a huge ego and i resemble how might i not have actually heard of that however i have it and somehow it gets noted and there are probably lots of other people stating the very same things about cryptos that i understand a lot about because i i tend to take a look at a lot of defy things 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 inform myself as much as possible and after that have an idea of what i like to learn more about and like to purchase what do i like to buy do i like to purchase the ones that have some sort of cash flow or liquidity procedure or something like that so comprehending those i don’t like to invest in some that are simply simply simply you understand pumps like pump plans or something i understand a great deal of individuals earned money on shiba inu i know a great deal of people made money on dogecoin that’s fantastic to hear i do not want to do that that that’s not me i choose not to and i’m not telling anyone they ought to or they should not 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 do not want to go to bed one night and i’m up here and wake up and i’m down here because what will take place is i’ll never ever sleep again and again from a psychological viewpoint i don’t want that i i try to find out quite a bit about the ones that i’m interested in or learn you understand find out why i might be interested why they might have value and truthfully guy it simply takes a great deal of education the other thing i’ll state about that real rapidly is you hear a great deal of people who don’t comprehend a lot about crypto or or are truly versus it stating saying i do not understand how there can be all these cryptocurrencies one of them has 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 number of them are a currency that is for a specific 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 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 requires to have its own currency to operate efficiently so it so if we feel and and look this this enters into a little bit of a viewpoint i’m a huge defy guy i love decentralized finance and part of the factor is since i’ve remained in financing 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 use blockchain innovation to do it that would be excellent 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 actually efficient running on dollars operating 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 due to the fact that there’s all these cryptocurrencies there’s a restricted 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 traditional monetary system and i do not indicate that whatever else is going to go away i imply my sensation is banks and the crypto that the protocols and whatever are going to begin working together they’re going to begin incorporating together which’s where you’re visiting a good deal of this worth so there’s a lot money in the traditional financing system that’s going to make its way 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 monetary system due to the fact that it’s simply a it’s basically a database in a network you get educated and again when you get informed have an investment thesis here’s what i like to purchase 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 anybody or you can sign up with etoro club and u.s club members get a bunch of benefits such as an etoro boodle bag unique access to our regular monthly webinars quarterly market reports and a devoted account supervisor if you join our higher tiers you can also get things like a membership of the wall street journal delta pro and exclusive invitations to irl yes real life etoro events make certain to take a look at the description for any marketing offers and to read more about our amazing guests i’ll see you in etoro us’s club Etoro Guru.