There’s all these brand-new cryptos is constantly flooding in…Etoro Vs Coinify… i imply how do you finish with this deluge of unique cryptocurrency um well well it’s a lot of that truthfully has to do with education so you if you learn the the extremely essentials here’s how bitcoin works and and we speak to a lot of once again monetary consultants here’s just how bitcoin works and as soon as you comprehend bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and then you start to enter into what is the financial investment thesis behind bitcoin and that 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 understand all these new tokens all these new cryptocurrencies some of them are literally just there to try to where they have no functionality it’s just we hope
that the cost tomorrow is higher than the price today that’s the only factor you’re entering it which comes from education understanding and once again going back to an investment thesis honestly and saying i’m not going to purchase anything just because 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 find out what it is and find out where it fits for me um i you know of course need 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 weekly i see a brand-new one being noted on some exchange and i’m and i go i have actually never even i can’t think i have actually never ever heard of that i get a huge ego and i’m like how might i not have heard of that but i have it and somehow it gets listed and there are most likely lots of other people stating the exact same features of cryptos that i know a lot about since i i tend to look at a great deal of defy stuff i tend to look a lot of those tokens so the the method i look at it is one there are a couple of ways one is i attempt to inform myself as much as possible and then have a concept of what i like to learn about and like to invest in 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 comprehending those i don’t like to buy some that are simply just purely you know pumps like pump schemes or something i know a great deal of individuals made money on shiba inu i know a lot of individuals made money on dogecoin that’s fantastic to hear i don’t wish to do that that that’s not me i select not to and i’m not telling anybody they must or they shouldn’t because there are a lot of people that have done well i pick not to do that a person because they’re they trade remember 24 7 365.
i do not want to go to bed one night and i’m up here and awaken and i’m down here because what will occur is i’ll never ever sleep again and again from an emotional standpoint i do not want that i i try to discover quite a bit about the ones that i have an interest in or learn you understand discover why i might be interested why they may have value and honestly guy it just takes a great deal of education the other thing i’ll say about that genuine rapidly is you hear a lot of individuals who do not comprehend a lot about crypto or or are really versus it stating saying i don’t understand 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 a lot 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 financial 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 function effectively so it so if we feel and and look this this gets into a little bit of an opinion i’m a huge defy guy i love decentralized finance and part of the reason is because i’ve remained in financing for so long and i understand where the inefficiencies are and i understand if we can take a few of those inadequacies out of the system and we can utilize blockchain technology to do it that would be terrific the thing is the blockchain technology is not effective without the currency that runs the network you can’t have the blockchain technology be truly effective running 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 limited quantity 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 traditional financial system and i do not indicate that whatever else is going to go away i mean my feeling is banks and the crypto that the protocols and everything are going to start interacting they’re going to start integrating together and that’s where you’re visiting a good 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 currently call the crypto system or the
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Defi system and ultimately it’s just going to be called the financial system due to the fact that it’s simply a it’s essentially a database in a network you get educated and again once 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 solely transmitted for etoro us club members our webinars let members straight communicate 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 perks such as an etoro swag bag unique access to our month-to-month 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 special invites to irl yes real life etoro events be sure to have a look at the description for any advertising offers and to get more information about our remarkable visitors i’ll see you in etoro us’s club Etoro Vs Coinify.