Is Forex trades is a part of Crypto Trade?

[Amicable55]

I see Forex where the pair of currencies mostly consist of two countries like "EURUSD" which are mostly traded in the world. While Crypto is based on blockchain. Please elaborate on the major differences between Crypto and forex.

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[mk4]

Pretty simple.

forex: fiat currency <-> fiat currency
crypto: fiat currency <-> crypto, or crypto <-> crypto

[Myleschetty]

It's simple mate. The major major difference between Crypto and forex trading is the commodity you trade on. In crypto, you trade on cryptocurrencies, or probably NFTs while you trade on fiat currency for another or crude oil, gold, etc in forex trading.

[GeorgeJohn]

The difference between cryptocurrency trading and forex trading is orderly a big deal, even with the explanation of mk4 i think it's the shortest way of explaining these for you to comprehend, but know that both end product or points landed on buying and selling of assets and commodities.. but you can read more here..https://www.motilaloswal.com/blog-details/similarities-and-differences-between-crypto-and-forex-online-trading/20126

[jackg]

I see Forex where the pair of currencies mostly consist of two countries like "EURUSD" which are mostly traded in the world. While Crypto is based on blockchain. Please elaborate on the major differences between Crypto and forex.

Realistically they're all speculation on the strength of the community that uses them.

Forex is lower in volatility for most economies who's currencies are traded (they're normally selected that way though because they have very high volumes in both directions - at least for the major pairs I've seen). The asset types themselves are also a bit different as crypto investments are in the underlying technology while forex moves are more on the strength of the people running the economy.

[FuloosIO]

Yeah, Forex Trades are not a part of Crypto Trading. Forex is FIAT Trading only.

[examplens]

Yeah, Forex Trades are not a part of Crypto Trading. Forex is FIAT Trading only.

I would not be exclusive here. I saw some forex houses which offer BTC>Fiat pairs.

I will say in crypto trading you mostly always have some value. At any time you can withdraw Bitcoin (or any other coin/token) or fiat.
On Forex, you buy appreciation/depreciation of some currency. For example, you can create a sell EUR to USD order, even if you haven't EUR. perhaps it is more obvious when you place an order to sell sugar even though you don't have it or have never bought it.
it is more like gambling where you predict in which direction a certain market will move, and you bet on that.

[Charles-Tim]

I see Forex where the pair of currencies mostly consist of two countries like "EURUSD" which are mostly traded in the world. While Crypto is based on blockchain. Please elaborate on the major differences between Crypto and forex.

Forex trading does not necessary mean it is exchange only between Euro and USD, any other fiat currencies can be used like Pounds, Yen, Yuan etc. Which means fiat is traded for another fiat in forex trading.

In crypto trading, coins, tokens and NFTs are trader for. Example is conversion of bitcoin to USDT, ethereum or Litecoin.

Forex is fiat based while crypto trading is crypto based.

[bitzizzix]

I think your crypto trading will need a digital wallet and a verified account to trade in cryptocurrencies.
and forex trading is the practice of buying and selling foreign exchange or currencies, the forex market is a decentralized over-the-counter (OTC) market.
and a quite striking difference is that the Forex market is open 5 days a week whereas the cryptocurrency market never closes.

[Charles-Tim]

I think your crypto trading will need a digital wallet and a verified account to trade in cryptocurrencies.

What kind of digital wallet do you need in crypto trading? If a trader is a day trader or trade very frequently, he will have no option than using a crypto exchange. Some fiat wallets which are electronic wallets can also be referred to as digital wallet, so to be more specific, crypto wallet will be more appropriate. But using crypto wallet directly to trade can be a form of decentralized mean of trading. The kind of trading OP is referring to are most possible on exchanges.

the forex market is a decentralized over-the-counter (OTC) market.

There is nothing decentralized about forex, all are centralized, the platform used is centralized, the coin traded to is also completely centralized.

[Zanab247]

Crypto trading is different from forex trading because crypto stand as a decentralized currency which is not control by the government compare to forex which is a centralized currency that is control by the government. Crypto price can increase higher without taking any permission from the government officials before it can pump or dump in the country compare to forex price which is be control by an individual in the country, items of pumping and dumping in the country. Many traders prefer crypto trading than forex trading because their is more reward in crypto trading than forex trading.

[bitzizzix]

I think your crypto trading will need a digital wallet and a verified account to trade in cryptocurrencies.

What kind of digital wallet do you need in crypto trading? If a trader is a day trader or trade very frequently, he will have no option than using a crypto exchange. Some fiat wallets which are electronic wallets can also be referred to as digital wallet, so to be more specific, crypto wallet will be more appropriate. But using crypto wallet directly to trade can be a form of decentralized mean of trading. The kind of trading OP is referring to are most possible on exchanges.

the forex market is a decentralized over-the-counter (OTC) market.

There is nothing decentralized about forex, all are centralized, the platform used is centralized, the coin traded to is also completely centralized.

I don't think any is the best and all wallets have advantages and disadvantages, ask yourself what kind of wallet do you need for day trading or something else according to his needs and habits.

and I made a typo and I mean centered, thanks for the correction.

[Captain Corporate]

You do not need a wallet if you are a day trader. We are talking about people who will need that money in the exchanges so that they could constantly trade it, if they withdraw it to their wallets and deposit it back to exchanges constantly then it would be a futile attempt and would be an expensive mistake as well. The best idea would be to actually let it be and then keep it in the exchanges. Is there a risk with it? Of course, there is, but that is the best way to do it if you are a day trader. Otherwise, it would be quite a difficult challenge to keep sending it back and forth, which is really useless and just a waste of time.

[Quidat]

Pretty simple.

forex: fiat currency <-> fiat currency
crypto: fiat currency <-> crypto, or crypto <-> crypto

Exactly and on point!

Also their differences;

forex: heavily centralized
Crypto: partly centralized

This might be talking about on exchange platforms or forex brokers.
You could eventually find out for yourself once you do gain experience or actual engagement.

[NewRanger]

forex: heavily centralized
Crypto: partly centralized

This might be talking about on exchange platforms or forex brokers.
You could eventually find out for yourself once you do gain experience or actual engagement.

this is the main part of differences between forex and crypto market. in forex central bank could intervention to market when they see currency drop too sharp that will have big impact to economy condition in countries, meanwhile in crypto when its price plunge there is no care about it and let it happen till traders give up.

[danherbias07]

Since most of them answered your query about the difference, I advise you to just check a trading platform and see it for yourself. It will not hurt you or your pockets by just checking it and some exchange platforms do offer trials.
After that, you will absolutely tell what's the difference between the two. That's how I learned things back then, the hard way.   Also came from Forex and I can tell I am enjoying Crypto trading more especially the part where everything depends on you to manage everything.

[BobK71]

Crypto currency and Forex Trading both are different form each other but one similarity I found that both are trading platform. Crypto currency is the most volatile trading platform then forex trading. There is no limitation for increase or decrease in crypto currency platform. Crypto currency market relatively new where forex market arrived for long time ago.  Forex market is regulated but crypto market is not regulated.  Though crypto currency trading is high risky but according to me in one point of view it is safer than forex, in cypro your assets price may be decrease but if you hold it it can recover but in forex if your assets cross your limit than you will lost your assets permanently.

[cabron]

Yeah, Forex Trades are not a part of Crypto Trading. Forex is FIAT Trading only.

But then because of the popularity of BTC as currency the FOREX brokers are adding it on their pairs. Usually the pairs are considered rare pair especially when a fiat is paired to a non major currency like Peso or Yuan.  BTC is now considered a major currency that brokers give the forex traders the access to cryptocurrency.

I have not really tried it since I quit Forex a long time ago, I'm not very productive in that market. But I wonder if the brokers allow the traders to withdraw BTC to their own wallet.

[Mpamaegbu]

OP should know that in Forex trading not only currency pairs are traded. Gold, silver, crude oil etc are also traded and paired against fiat. So, it's not only fiat to fiat dealings. Notably, certain forex trading platforms this day now offer crypto pairs too for trading.

[palle11]

OP should know that in Forex trading not only currency pairs are traded. Gold, silver, crude oil etc are also traded and paired against fiat. So, it's not only fiat to fiat dealings. Notably, certain forex trading platforms this day now offer crypto pairs too for trading.

This is correct. Some forex trading platforms now are pairing cryptocurrency against fiat currency in trading especially with bitcoin. Like example you can have it like being paired like this, BTC/USD. This means bitcoin trading against USD dollar and btc is the base currency. This days you can simply trade cryptocurrency in a forex platform and this makes trading easier and faster because you may decide not to go to crypto exchange but stay with forex platform and the other way too.