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Author Topic: Crypto or Forex?  (Read 1191 times)
Z_MBFM
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November 06, 2023, 10:02:02 AM
 #121

I've tried both, so I can speak from my own experience.
I lost a lot of money in forex, because things change very quickly and you need to analyze market movements a lot and make quick decisions, and you also need to have enough money to invest to cover your open positions. It is purely about trading.
Forex trading like Future trading Because here also Leverage option is available but However, a difference here is that the currency issued by the government of a country is used for Forex trading and virtual digital currency is used for future trading. And some country's currency fluctuates less but crypto fluctuates more. So I also think that long term investment in crypto is much safer and highly profitable than Forex trading.
I somewhat agree with you. Crypto holdings are better than forex trading. But despite the fact that crypto is more profitable, it is not possible for everyone to use it because crypto is still illegal in many countries. Again, there is a lot of risk here due to the high rise in the price of crypto. And there are huge amount of coins in the crypto market which makes it difficult to predict which one will be good. But in the case of forex trading, the currencies are issued by the government, so there is no chance of any money being scammed like crypto coin
Although crypto is not legal in all countries, it is possible to buy and sell crypto from almost all countries through p2p services. For example, no cryptocurrency including Bitcoin is legal in our Bangladesh so far. But we can easily buy and use crypto through p2p from Bangladesh. although crypto is not legal in Bangladesh, we can kyc on crypto related sites, crypto exchanges with Bangladeshi NID, Passport, Driving licenses. But since crypto is not legal in our Bangladesh, it is very dangerous for us to hold crypto in a centralized exchange because our accounts can be restricted at any time. so I always use non-custodial wallet. Although forex trading is legal in our country, most of the youth here do crypto trading and avoid forex.

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November 06, 2023, 12:20:44 PM
 #122

There is not much of a difference between the two, Forex gave birth to cryptocurrency in terms of its idea, both can be profitable and you can lose as well, however, it depends on the one you find more profitable trading, you can engage in both just that when it comes to trading cryptocurrency, spot trading makes it more convenient to trade and invest cryptocurrency, in the sense that you can own the asset.

R


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November 06, 2023, 01:54:57 PM
 #123

There is not much of a difference between the two, Forex gave birth to cryptocurrency in terms of its idea, both can be profitable and you can lose as well, however, it depends on the one you find more profitable trading, you can engage in both just that when it comes to trading cryptocurrency, spot trading makes it more convenient to trade and invest cryptocurrency, in the sense that you can own the asset.



Forex gave to what? crypto currency concept? I disagree with you about that; trade is being done and used even in the past, or old times. The form of bargaining, or such, forex and crypto currency trading are totally different; they are similar to the concept of "trading". Forex and crypto currency trading take on the idea of "trading". So how can you say forex gave birth to the idea of crypto currency if forex itself only takes the form of trading from what we are doing every day?




Forex and crypto trading are both good in terms of earning; it just depends on how efficiently you trade. The profit will depend on the skills and experience of the traders, but for me, I'm more into crypto. I do both; it's just that I'm more into crypto as I'm more expert and familiar with that field. To wrap it up, I don't judge by what you've said; it's just that you got the wrong idea of what forex and crypto currency are.

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November 06, 2023, 02:47:33 PM
 #124

There is not much of a difference between the two, Forex gave birth to cryptocurrency in terms of its idea, both can be profitable and you can lose as well, however, it depends on the one you find more profitable trading, you can engage in both just that when it comes to trading cryptocurrency, spot trading makes it more convenient to trade and invest cryptocurrency, in the sense that you can own the asset.
Forex gave to what? crypto currency concept? I disagree with you about that; trade is being done and used even in the past, or old times. The form of bargaining, or such, forex and crypto currency trading are totally different; they are similar to the concept of "trading". Forex and crypto currency trading take on the idea of "trading". So how can you say forex gave birth to the idea of cryptocurrency if forex itself only takes the form of trading from what we are doing every day?
After all your disagreement you still end up contradicting yourself and in the end, there is no point to taking home.
Seems you have a problem with understanding my point,  I never said both are the same, rather I said no much different and I made mention in terms of its idea which is the concept of trading and I went further to point out how spot trading makes a difference here in terms owing the coin when it comes to crypto trading.

R


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November 06, 2023, 03:35:05 PM
 #125

Both are profitable and risky at the same time, although crypto pairs are much simpler to trade Forex has more movement and volatility making it fast to to take profit or vise versa, while crypto takes a long period of time to go in any direction. One just has to pick the one that suit him best considering which one brings in more profits and less looses.

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November 14, 2023, 01:26:09 PM
 #126

Hello,
What are the Advantages and Disadvantages of the Crypto and Forex? Why should anyone choose Crypto over Forex?


Thank you.

If you are a risk taker and love volatility then crypto is for you but if you want a less risky environment, you can do forex though higher leverage and margins can give you massive losses in those two. These two markets are a bit different in nature. Forex markets impact on news but you can be a successful forex trader only by using different indicator setups. In crypto basic indicator is useful but you need to keep in mind a lot of different things when taking your entry. A news event can prove your whole set up wrong. So it will be wise to use google to gather more information about these two sectors. I can add more points in my comments because i traded in both market but I want you to work on it so that you can value your efforts properly.

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November 14, 2023, 03:07:18 PM
 #127

Hello,
What are the Advantages and Disadvantages of the Crypto and Forex? Why should anyone choose Crypto over Forex?


Thank you.
For me, i think there are no advantages or disadvantages in choosing to trade forex or crypto over the other, it's all a matter of choice and preferences, like myself, i started trading forex before i discovered crypto, and after a while in crypto, i started trading and left forex, not because forex is bad in any way, but simply because i came to like and prefer trading crypto over forex.

There are people who like trading forex and no matter what, they will never leave forex to trade crypto, and there are those as well who will not leave crypto to trade forex, it's all about personal choice, but for me, i just prefer trading crypto, most especially, spot trading because, i have the option of holding a coin i bought for a longer time incase its price did not go as i expected, at least, until the price moves up for me to sell in profit, this is completely different from forex where a loss is a loss, most especially, if you are using a very high leverage, like it is in futures market in crypto.

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November 14, 2023, 05:04:07 PM
 #128

Although crypto is not legal in all countries, it is possible to buy and sell crypto from almost all countries through p2p services. For example, no cryptocurrency including Bitcoin is legal in our Bangladesh so far. But we can easily buy and use crypto through p2p from Bangladesh. although crypto is not legal in Bangladesh, we can kyc on crypto related sites, crypto exchanges with Bangladeshi NID, Passport, Driving licenses. But since crypto is not legal in our Bangladesh, it is very dangerous for us to hold crypto in a centralized exchange because our accounts can be restricted at any time. so I always use non-custodial wallet. Although forex trading is legal in our country, most of the youth here do crypto trading and avoid forex.
Exactly, another advantage of crypto over the forex is its potential for global access since crypto is a decentralized and digital currency, it's not subject to the same geographical restrictions as forex.

Hello,
What are the Advantages and Disadvantages of the Crypto and Forex? Why should anyone choose Crypto over Forex?

Thank you.

Forex and crypto are two different entities but they both involve the trading of currencies. The main difference between these two is that forex is a regulated market and crypto is largely unregulated. The decision to choose any is absolutely yours but crypto has the potential for much higher returns than forex because the crypto market is still growing and evolving and there's the possibility that it will increase in value over time. Crypto also offers the chance to invest in new and innovative technologies. Forex is a more established market and crypto is a more decentralized market meaning that it's less influenced by governments.

R


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November 14, 2023, 07:08:10 PM
 #129

If you are a risk taker and love volatility then crypto is for you but if you want a less risky environment, you can do forex though higher leverage and margins can give you massive losses in those two. These two markets are a bit different in nature. Forex markets impact on news but you can be a successful forex trader only by using different indicator setups. In crypto basic indicator is useful but you need to keep in mind a lot of different things when taking your entry. A news event can prove your whole set up wrong. So it will be wise to use google to gather more information about these two sectors. I can add more points in my comments because i traded in both market but I want you to work on it so that you can value your efforts properly.
I would say it all depends on how you are dealing with forex and with crypto as well. A spot trading at crypto with just bitcoin/usdt pair would be a lot less riskier than some forex where you deal with Dollar/Yen partly with x150 leverage, which does exists.

That doesn't mean that we are not going to end up with anything that would be riskier at forex, you can also do the opposite as well, there are literally btc/doge parity for leverage as well, something high there with just usd/eur parity with low leverage could definitely make the crypto related part a lot riskier. So all in all, there isn't really anything that is guarnateed to be riskier in one side or the other, there are differences in the end for sure.

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November 14, 2023, 07:18:45 PM
 #130

If you are a risk taker and love volatility then crypto is for you but if you want a less risky environment, you can do forex though higher leverage and margins can give you massive losses in those two. These two markets are a bit different in nature. Forex markets impact on news but you can be a successful forex trader only by using different indicator setups. In crypto basic indicator is useful but you need to keep in mind a lot of different things when taking your entry. A news event can prove your whole set up wrong. So it will be wise to use google to gather more information about these two sectors. I can add more points in my comments because i traded in both market but I want you to work on it so that you can value your efforts properly.
I would say it all depends on how you are dealing with forex and with crypto as well. A spot trading at crypto with just bitcoin/usdt pair would be a lot less riskier than some forex where you deal with Dollar/Yen partly with x150 leverage, which does exists.

That doesn't mean that we are not going to end up with anything that would be riskier at forex, you can also do the opposite as well, there are literally btc/doge parity for leverage as well, something high there with just usd/eur parity with low leverage could definitely make the crypto related part a lot riskier. So all in all, there isn't really anything that is guarnateed to be riskier in one side or the other, there are differences in the end for sure.
If you would really go for less risk then it would be recommended that you should be touching up forex but expect that profitability would really be that less basing up on the volatility that it  does have which comparing to crypto on which volatility level would really be giving out that kind of chance and probability that getting enormous amount of profits could be possible and same goes with losses as well. In short, it would really be just that depending with your risks appetite since not all would really be that liking on having that too much risks. If you do find out that Forex trading does really fit out into your criteria then go ahead but if you do find it boring due to lack of action and movement then crypto would be a considerable choice or option. It would really be just that depending on you on which one you would be taking.

Im a Forex trader but did make out some transfer or jumping into crypto market yet i do find this place to be more interesting and challenging and profitable at the same time
if you are really that able to do well within this market.Yes, its risky but doesnt mean that it would really be that too making losses if you are really just that careful.
Its your choice since risks factor will really be that different in both markets.

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November 14, 2023, 08:49:32 PM
 #131

Hello,
What are the Advantages and Disadvantages of the Crypto and Forex? Why should anyone choose Crypto over Forex?


Thank you.

Tho the both market are volatile during news event and manipulation is bond to happened, but i prefer crypto to forex because crypto can be traded on weekends, tho the price is kind of slow, and another thing is there are lots and lots of coin to trade on like forex, just few currency pairs to trade from.

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November 15, 2023, 01:01:16 AM
 #132

just that when it comes to trading cryptocurrency, spot trading makes it more convenient to trade and invest cryptocurrency, in the sense that you can own the asset.

Yeah, sport trading is just the normal buy/sell of cryptocurrency, which some people do more frequently, and they still make their profit on a daily basis and also experience some losses. I used to mostly engage in sport trading, but it was bringing losses. Definitely, you have to look through the price chart of whatever coin you are buying so that you can know the price you can buy and when to sell, and from the chart, you can possibly predict the next direction of the coin you are trading. Trading futures on CEX is just like forex.

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November 15, 2023, 02:55:43 AM
 #133

Hello,
What are the Advantages and Disadvantages of the Crypto and Forex? Why should anyone choose Crypto over Forex?


Thank you.

The two are very different and they will never be the same. Although Forex was ahead of crypto but in this instance it seems that cryptocurrency has overtaken Forex in the short time that has passed in my opinion. These are their pros and cons.

Quote
Cryptocurrency

Pros:

Decentralization: Cryptocurrency is not controlled by any government or financial institution, which can make it more attractive to people who are distrustful of traditional financial systems.
Borderlessness: Cryptocurrency can be used to send and receive money anywhere in the world, which can be a major advantage for people who live in countries with restrictive financial systems.
Transparency: All cryptocurrency transactions are recorded on a public blockchain, which can help to prevent fraud and corruption.
Potential for high returns: Cryptocurrency is a relatively new asset class, and its price can fluctuate wildly. This volatility can lead to high returns for investors, but it also carries a high risk of loss.

Cons:

Volatility: Cryptocurrency is a volatile asset, and its price can fluctuate wildly. This volatility can make it a risky investment.
Regulation: Cryptocurrency is still a relatively new asset class, and there is still a lot of uncertainty about how it will be regulated. This uncertainty can make it difficult for investors to know where to stand.
Security: Cryptocurrency exchanges and wallets have been hacked in the past, and these events have caused investors to lose money.

Forex

Pros:

Liquidity: Forex is the most liquid market in the world, with trillions of dollars traded every day. This liquidity makes it easy for investors to enter and exit the market.
Accessibility: Forex is a very accessible market, and there are many different ways to trade it. This makes it a good option for investors of all levels of experience.
Potential for high returns: Forex can be a very profitable market for investors who are able to consistently make profitable trades.

Cons:

Risk: Forex is a risky market, and investors can lose money if they are not careful.
Leverage: Forex brokers often offer leverage, which can allow investors to control a much larger amount of money than they actually have. This can be very profitable, but it can also lead to significant losses if the investor makes a mistake.
Regulation: The forex market is regulated in many countries, but the level of regulation varies. This can make it difficult for investors to know where to stand.

I just want to emphasize that crypto and forex both have the same risk involved, so anyone who tries these two needs to be prudent no matter what they choose to invest in.

The pros and Cons of Cryptocurrency
The Pros and Cons of Forex

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November 15, 2023, 03:02:03 AM
 #134

just that when it comes to trading cryptocurrency, spot trading makes it more convenient to trade and invest cryptocurrency, in the sense that you can own the asset.

Yeah, sport trading is just the normal buy/sell of cryptocurrency, which some people do more frequently, and they still make their profit on a daily basis and also experience some losses. I used to mostly engage in sport trading, but it was bringing losses. Definitely, you have to look through the price chart of whatever coin you are buying so that you can know the price you can buy and when to sell, and from the chart, you can possibly predict the next direction of the coin you are trading. Trading futures on CEX is just like forex.

That's what differentiates Crypto and Forex. Crypto futures are almost the same as forex, both are capable of providing profits and losses, and even have the potential to drain your balance if a margin call occurs. However, there is a crypto market that Forex does not have, namely crypto spot trading. In this market, as you said, we can buy crypto in real terms and own it, then we can store it. There are also advantages and disadvantages in the spot market.


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November 15, 2023, 03:06:30 AM
 #135

Tho the both market are volatile during news event and manipulation is bond to happened, but i prefer crypto to forex because crypto can be traded on weekends, tho the price is kind of slow, and another thing is there are lots and lots of coin to trade on like forex, just few currency pairs to trade from.
Yeah, forex isn't open during the weekends and that's why there's giving some rest for the traders of it.

Whilst in crypto, it is 24/7 so you have a lot of time to check out the market and have various of pairs together with Bitcoin or fiat currencies.

I don't trade in forex but are their brokers also close during the weekends?



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November 15, 2023, 03:49:49 AM
 #136

You can invest in crypto today and the price start pumping the next day in a way you can decide to trade in the market to make what will make you know that crypto investment is more valuable than forex because it hard for traders that know how crypto work to experience losses in their trading, because they know that no matter how long the bearish stay in the market, it will not stay forever which are some of the advantages of crypto. Buy crypto when the price is low in market is another advantage traders use to remain happy whenever they hold till the bearish season come to pass before they can trade to make income at the moment. I don't know forex trading because is not reliable like the way crypto trading is reliable when the bullish season is on ground which is the best season any traders can use to improve their income in the community.

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November 15, 2023, 12:10:12 PM
 #137

For me, i think there are no advantages or disadvantages in choosing to trade forex or crypto over the other, it's all a matter of choice and preferences, like myself, i started trading forex before i discovered crypto, and after a while in crypto, i started trading and left forex, not because forex is bad in any way, but simply because i came to like and prefer trading crypto over forex.

There are people who like trading forex and no matter what, they will never leave forex to trade crypto, and there are those as well who will not leave crypto to trade forex, it's all about personal choice, but for me, i just prefer trading crypto, most especially, spot trading because, i have the option of holding a coin i bought for a longer time incase its price did not go as i expected, at least, until the price moves up for me to sell in profit, this is completely different from forex where a loss is a loss, most especially, if you are using a very high leverage, like it is in futures market in crypto.
Yes, it is a matter of choice but we can't erase the fact that there is still a disadvantage whatever we choose between the two. For crypto, it was volatility for some but for others, there is more than it, as they don't consider volatility as a disadvantage, rather they consider it as an advantage because this is where they can buy low and sell high.

Now about forex, I think it's lack of volatility for some, but others like it because they think it is less risky while at the same time they can earn a profit stable in manner. Before crypto came, there is already a forex and I'm also aware with it but I haven't tried it. I only tried crypto and I'm happy and contented with it already. There is no need for me to try forex.

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November 15, 2023, 05:12:52 PM
 #138

Both are profitable and risky at the same time, although crypto pairs are much simpler to trade Forex has more movement and volatility making it fast to to take profit or vise versa, while crypto takes a long period of time to go in any direction. One just has to pick the one that suit him best considering which one brings in more profits and less looses.

Both are risky as well as profitable but these all suggestions depends on experience. If someone find forex as a profitable then he will prefer forex and those who take benefits from crypto will suggest it for others. If we talk about risk and get afraid of it then we will not move forward to achieve our goals because nothing is without risk here.

People often use one technology of earning and if new arises then they change their preference and adapt themselves according to the profit and ease. I think that cryptocurrency trading is more profitable than forex trading and is returning greater amount than forex trading. Also it seems that in future crypto will attain much higher value and will prove to be one of the best earning technology but one should learn everything before entering into the market.



 

 

 

 

 

 


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November 15, 2023, 07:59:56 PM
 #139

However, there is a crypto market that Forex does not have, namely crypto spot trading.

That's because those forex brokers are not designed to work like that. On a centralized exchange, the spot features are just designed for people to buy cryptocurrency and either withdraw or store it on that CEX, while on a forex broker, the purpose is just for you to see your profit increase depending on the predicted direction of the market that you chose. Earlier on, the forex market was only designed for the trading and exchange of foreign currency, but now cryptocurrency has been added, and it's just the same way that the exchange of fiat currencies, except that it's still working; you cannot buy and own the currency you are trading.

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November 15, 2023, 08:41:59 PM
 #140

Both are risky as well as profitable but these all suggestions depends on experience. If someone find forex as a profitable then he will prefer forex and those who take benefits from crypto will suggest it for others. If we talk about risk and get afraid of it then we will not move forward to achieve our goals because nothing is without risk here.
Both markets are profitable if you are good enough. But that doesn't mean that you can always make money from them. The risk remains and the volatility is staying for each markets.
Whichever you prefer and you know more the movements of the market, stay there. Take a mastery on yourself from each of those markets for you to have the momentum and take that moment as opportunity for you to keep on earning.


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