Bitcoin traders, why don't you just trade forex?

[brad07226]

Bitcoin traders might prefer trading Bitcoin over Forex for several reasons, even when considering the advantages offered by Bitcoin Forex brokers.

One significant factor is Bitcoin's high volatility compared to traditional forex currencies, leading to higher potential profits in shorter time frames. Additionally, Bitcoin operates on a decentralized network, free from government control or intervention, appealing to those who prefer a decentralized financial system. Bitcoin markets also operate 24/7, providing continuous trading opportunities, unlike forex markets that close over the weekend.

The lower barriers to entry in Bitcoin trading can make it more accessible to retail traders compared to forex trading, which often involves significant leverage and margin requirements. Furthermore, Bitcoin's underlying blockchain technology offers a transparent and secure ledger of transactions, which can be more appealing to traders concerned about security and transparency. Lastly, the innovative nature and significant growth potential of Bitcoin and the broader cryptocurrency market attract traders interested in new technologies and high-growth assets.

Despite these advantages, Bitcoin Forex brokers offer several benefits. They often allow traders to access both forex and cryptocurrency markets on a single platform, providing diverse trading opportunities. Some Bitcoin Forex brokers offer high leverage on both Bitcoin and forex trades, potentially increasing profit margins for experienced traders. Reputable Bitcoin Forex brokers are often regulated, providing an additional layer of security and trust. These brokers typically offer advanced trading tools, including technical analysis, charting software, and risk management features. They also facilitate the integration of fiat and cryptocurrency trading, allowing for easier conversion and withdrawal options between different asset classes.

[Fivestar4everMVP]

I see there are a lot of first time traders trading Bitcoin via the hack exchanges of MtGox and Tradehill.  It makes me wonder, why don't you guys just trade real forex?  You can open micro accounts with as little as $25.  You get security far better than these shady exchanges.  You get real customer service with a real business that won't disappear and leave you only an email address to cry to.  You get real trading platforms with reliable data, not some ghetto hack stuff.  You get plenty of liquidity, which allows of smooth trading.  And, best of all, you don't have to worry whether it's legal or not!  Trading is hard enough as it is, why anyone would want all these additional factors working against them is beyond me.

So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?

And you really think that the forex market is more safer to trade on, than trading cryptocurrencies is? Man, please don't fool yourself, I personally have been a forex trader before moving over to trading cryptocurrencies, and I can tell you that there are several other persons like myself who have moved from trading forex to trading bitcoin and cryptocurrencies..

And talking about exchanges that provide the trading ability, both forex and cryptocurrency markets have scammer,  I know atleast, a few persons who have lost hundreds of thousands of dollars to forex trading scams and account hacks, this is to tell you that in terms of security, both forex and cryptocurrency trading platforms can be secure or insecure, depends of the traders choice of platform and his or her approach to security issues/measures.