There’s all these new cryptos is constantly flooding in…Etoro Open Book… 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 learn the the very fundamentals here’s how bitcoin works and and we talk with a lot of once again financial advisors here’s simply how bitcoin works and as soon as you comprehend bitcoin you comprehend things like blockchain technology you understand openness and immutability and all those things and after that you begin to enter into what is the investment thesis behind bitcoin which is 80 of the video game right there 80 of understanding these other crypto currencies originates from understanding how bitcoin functions then you enter that you know all these new tokens all these brand-new cryptocurrencies a few of them are actually just there to attempt to where they have no functionality it’s just we hope
that the cost tomorrow is higher than the rate today that’s the only factor you’re getting into it and that originates from education understanding and again going back to an investment thesis truthfully and stating i’m not going to buy anything even if i saw some dude 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 fits for me um i you know naturally need to do a whole lot of research 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 ever even i can’t believe i’ve never become aware 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 noted and there are most likely lots of other individuals saying the very same aspects of 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 great deal of those tokens so the the way i take a look at it is one there are a few methods one is i attempt to inform myself as much as possible and then have a concept of what i like to learn more about and like to invest in what do i like to buy do i like to buy the ones that have some sort of capital or liquidity protocol or something like that so comprehending those i do not like to buy some that are just just purely you know pumps like pump schemes or something i understand a great deal of people generated income on shiba inu i understand a great deal of individuals made 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 ought to or they shouldn’t because there are a lot of individuals 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 bed one night and i’m up here and wake up and i’m down here since what will happen is i’ll never sleep again and again from a psychological perspective i don’t desire that i i try to find out a fair bit about the ones that i’m interested in or discover you understand find out why i might be interested why they may have value and truthfully guy it just takes a great deal of education the other thing i’ll state about that genuine quickly is you hear a great deal of individuals who do not understand a lot about crypto or or are really versus it stating stating i do not comprehend 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 many of them can exist on their own many 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 alright 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 needs to have its own currency to function effectively so it so if we feel and and look this this enters a little bit of a viewpoint i’m a big defy man i love decentralized financing and part of the reason is because i’ve been in finance for so long and i know where the inefficiencies are and i understand if we can take some of those inadequacies out of the system and we can use blockchain innovation to do it that would be fantastic the thing is the blockchain innovation is not efficient without the currency that runs the network you can’t have the blockchain technology be really effective working on dollars operating on us dollars over the banking system you have 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 since there’s all these cryptocurrencies there’s a minimal 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 again in my opinion start to begin to engulf the traditional 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 whatever are going to start collaborating they’re going to start integrating together and that’s where you’re visiting a lot of this value so there’s a lot cash in the conventional 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 financial system due to the fact that it’s just a it’s basically a database in a network you get informed and once again when you get informed have an investment thesis here’s what i like to purchase here’s what i do not this is a clip from our webinar solely transmitted for etoro us club members our webinars let members directly connect 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 unique access to our regular monthly webinars quarterly market reports and a devoted account manager if you join our higher tiers you can likewise get things like a membership of the wall street journal delta pro and unique invites to irl yes reality etoro events make sure to check out the description for any marketing offers and to find out more about our fantastic guests i’ll see you in etoro us’s club Etoro Open Book.