There’s all these new cryptos is constantly flooding in…Phillip Capital Vs Dorman Trading Vs Forex… i mean how do you do with this deluge of unique cryptocurrency um well well it’s a lot of that honestly is about education so you if you find out the the extremely essentials here’s how bitcoin works and and we speak with a lot of again financial advisors here’s simply how bitcoin works and when you understand bitcoin you understand things like blockchain technology you comprehend openness and immutability and all those things and after that you begin to enter what is the investment thesis behind bitcoin which is 80 of the game right there 80 of comprehending these other crypto currencies comes from comprehending how bitcoin functions then you enter into that you understand all these new tokens all these brand-new cryptocurrencies some of them are actually just there to attempt to where they have no functionality it’s simply we hope
that the rate tomorrow is higher than the cost today that’s the only reason you’re entering into it which comes from education understanding and again going back to a financial investment thesis truthfully and saying 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 study and discover what it is and discover where it fits for me um i you understand naturally have to do a great deal of research 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 listed on some exchange and i’m and i go i’ve never ever even i can’t believe i have actually never ever become aware of that i get a huge ego and i’m like how could i not have heard of that but i have it and somehow it gets listed and there are probably tons of other people saying the exact same aspects of cryptos that i understand a lot about because i i tend to look at a lot of defy stuff i tend to look a great deal of those tokens so the the way i look at it is one there are a few ways one is i attempt to inform myself as much as possible and after that have an idea of what i like to learn about and like to buy what do i like to invest in 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 simply purely you know pumps like pump schemes or something i understand a great deal of people earned money on shiba inu i know a great deal of individuals made money on dogecoin that’s excellent 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 great deal of individuals that have succeeded i select not to do that a person since they’re they trade remember 24 7 365.
i do not wish to go to sleep one night and i’m up here and awaken and i’m down here since what will occur is i’ll never sleep again and again from a psychological standpoint i do not desire that i i attempt to discover quite a bit about the ones that i’m interested in or learn you know learn why i might be interested why they might have value and honestly man it just takes a whole lot of education the other thing i’ll state about that real quickly is you hear a great deal of individuals who don’t comprehend a lot about crypto or or are really versus it stating stating i don’t understand how there can be all these cryptocurrencies one of 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 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 an entire network there and it needs 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 bit of a viewpoint i’m a huge defy person i love decentralized finance and part of the factor is because i have actually been in finance for so long and i know where the inefficiencies are and i understand if we can take some of those inefficiencies out of the system and we can use blockchain technology to do it that would be great the thing is the blockchain technology is not efficient without the currency that runs the network you can’t have the blockchain technology be really 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 very much fact to the assertion that since 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 again in my opinion start to begin to swallow up the standard financial system and i don’t suggest that whatever else is going to disappear i indicate my feeling 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 so much cash in the traditional finance 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 ultimately it’s just going to be called the monetary system since it’s just a it’s basically a database in a network you get educated and again once you get informed have a financial investment thesis here’s what i like to invest in here’s what i don’t this is a clip from our webinar specifically broadcast for etoro us club members our webinars let members directly communicate with our guests using a q a and any person or you can join etoro club and u.s club members get a lot of perks such as an etoro boodle bag special 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 invitations to irl yes reality etoro events be sure to have a look at the description for any marketing deals and to read more about our fantastic visitors i’ll see you in etoro us’s club Phillip Capital Vs Dorman Trading Vs Forex.