There’s all these brand-new cryptos is constantly flooding in…Etoro Vs Coinmarketcap… i mean how do you do with this deluge of unique 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 basics here’s how bitcoin works and and we speak with a great deal of again monetary consultants here’s just how bitcoin works and once you comprehend bitcoin you comprehend things like blockchain technology you understand transparency and immutability and all those things and then you start to enter what is the investment thesis behind bitcoin and that is 80 of the video game right there 80 of comprehending these other crypto currencies comes from understanding how bitcoin functions then you get into that you know all these new tokens all these new cryptocurrencies a few of them are actually just there to try to where they have no functionality it’s just we hope
that the rate tomorrow is higher than the price today that’s the only reason you’re entering it and that originates from education understanding and once again returning to an investment thesis honestly and stating i’m not going to buy 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 learn what it is and discover where it fits for me um i you know of course have to do a whole lot of research i can’t keep up with probably ten percent of the the tokens and cryptos that come out uh every week 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’ve never heard of that i get a big ego and i’m like how could i not have actually heard of that however i have it and somehow it gets noted and there are probably tons of other people stating the exact same aspects of cryptos that i understand a lot about due to the fact that i i tend to look at a lot of defy things i tend to look a lot of those tokens so the the way i look at it is one there are a few methods one is i try to inform myself as much as possible and then have an idea of what i like to learn more about and like to invest in what do i like to purchase do i like to buy the ones that have some sort of cash flow or liquidity protocol or something like that so understanding those i do not like to invest in some that are simply simply purely you understand pumps like pump plans or something i know a great deal of people generated income on shiba inu i know a great deal of people earned money on dogecoin that’s great to hear i do not want 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 succeeded i select not to do that a person since they’re they trade keep in mind 24 7 365.
i don’t 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 sleep again and again from a psychological viewpoint i do not want that i i try to discover a fair bit about the ones that i’m interested in or discover you understand learn why i might be interested why they may have worth and truthfully man it simply takes a lot of education the other thing i’ll say about that real rapidly is you hear a great deal of people who do not understand a lot about crypto or or are truly versus it saying saying i do not comprehend 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 number of them can exist on their own a number of them are a currency that is for a particular 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 economic network alright 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 work effectively so it so if we feel and and look this this enters a little bit of an opinion i’m a big defy man i love decentralized financing and part of the factor is due to the fact that i’ve remained in finance for so long and i understand where the ineffectiveness are and i know if we can take a few of those inadequacies out of the system and we can use blockchain technology to do it that would be fantastic the thing is the blockchain innovation is not effective without the currency that runs the network you can’t have the blockchain innovation be truly effective operating on dollars operating 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 very much 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 figure out which one’s going to be the winner it is going to again in my viewpoint start to start to engulf the standard financial system and i do not indicate that whatever else is going to disappear i indicate my feeling is banks and the crypto that the protocols and everything are going to begin interacting they’re going to start integrating together and that’s where you’re visiting a great deal of this value so there’s so much cash in the conventional financing system that’s going to make its way 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 because it’s just a it’s basically a database in a network you get educated and once again as soon as you get informed have a financial 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 directly communicate with our guests 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 boodle bag exclusive access to our regular monthly webinars quarterly market reports and a devoted account manager if you join our higher tiers you can also get things like a subscription of the wall street journal delta pro and unique invites to irl yes reality etoro occasions be sure to check out the description for any advertising offers and to read more about our amazing guests i’ll see you in etoro us’s club Etoro Vs Coinmarketcap.