Topic: Bitcoin traders, why don't you just trade forex? (Read 25184 times)

If a person is good with forex, he may be good with crypto and have much more to discuss and discover for himself in the long run.
Crypto is still like a Wild West of ideas and technology, combined with everybody searching for gems, and it will get more interesting as time goes on, in my opinion.

I completely understand your perspective. Bitcoin does offer unique advantages like high volatility and 24/7 market access, which can be very appealing for traders seeking flexibility and potential profit in shorter timeframes. The decentralized nature is definitely a big draw for those who prioritize independence from traditional financial systems.

You're right that both markets—forex and crypto—have their own risks and rewards, and ultimately, it comes down to individual preferences and risk tolerance. It's all about doing your research and choosing reliable platforms, whether for forex or BTC.

Thanks for sharing your thoughts!

And we don't forget about the cold wallets and additions to them - if you really want to feel like in a bunker of titanium regarding your funds.

Both can be researched and worked with.
But I just prefer BTC because it's the best for those who don't want to spend a nerve to be succesful if they know even a little about it.

And there are probably no dApps for forexes, I imagine..
I am glad you found a better way and space for yourself overall.

I see your point, and I agree that both Bitcoin and forex markets have their risks, especially when it comes to scams and security issues. However, the main reason many traders prefer Bitcoin over forex is the unique advantages that cryptocurrencies offer. Bitcoin’s high volatility provides greater profit potential in shorter timeframes, and its decentralized nature appeals to those who value independence from government control or traditional financial systems. Additionally, Bitcoin markets operate 24/7, giving traders more flexibility.

That said, I’m not dismissing the value of forex trading or the benefits of using regulated platforms. Both markets can be secure or insecure depending on the choices traders make. It ultimately comes down to personal preference and risk tolerance—Bitcoin is an innovative asset with its own set of rewards and risks, just like forex. It’s important to do your research and choose trustworthy platforms, whether you’re trading forex or crypto.

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.

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.

The main advantage of cryptocurrencies is the presence of DEX and at least some degree of anonymity. In addition, you can keep your funds in your own wallet, the private keys of which are at your disposal. In addition, you do not need to fill out all sorts of papers, work through intermediaries (brokers)

You might also want to inquire about why some vendors only sell bananas when they can also sell apples. When you can also have Mountain Dew, why drink Sprite? Instead of just getting a management degree, you could try at being an accountant. Regardless, it comes down to personal preference. Instead of trading in a forex exchange market they are unfamiliar with and are not interested in, crypto traders will stick according to their market of comfort. Numerous traders also hold crypto assets and are likely to hold long-term coins. There are DEXes and CEXes that offers no KYC at all and some asking minor details only unlike forex exchanges that are carrying out high degrees of KYC.

I have a friend who has been in the forex market for 7 years and is making a lot of profit from it. I mentioned that he should try trading with bitcoin, but after much research, he still refuses. His reason is that he can analyze all forex trading pairs. But he can't make an exact judgment on bitcoin, as bitcoin is still a market manipulated rather than determined by supply and demand. Therefore, determining the direction of bitcoin will be more difficult with forex.
Bitcoin has a large trading volume compared to altcoins but is still very small compared to forex and more susceptible to manipulation, so I agree with my friend's argument.

Bitcoin is also a currency but as you said, it is more volatile but this isn't a bad thing. If there are people who don't have experience in Forex but have entered immediately in Bitcoin trading, then why not those Forex traders? They already know the concept of buying low and selling high, but Bitcoin is only more extreme in terms of it but if they master it, they can earn faster and better than in Forex.

Bitcoins are not a new thing anymore. Many people around the world have engaged with it so its volume is now huge. Forex traders have a capital and in Bitcoin, a big capital is not necessarily needed because we can still buy Bitcoin in smaller portions. We must only take note of the transaction fees. Some economists can hate BTC but will their opinion matter? No. Bitcoin is still legal on many countries and as long as our country is one of it, we can be able to try it.

There are many reasons why traders may prefer to trade in the Bitcoin market over Forex.
First, the bitcoin market is not regulated, which means that its prices and trading opportunities can change much faster than in regulated markets. This may provide more opportunities for profit, but it may also involve more risk.
Secondly, the bitcoin market is still relatively young and rapidly developing, which may attract traders looking for new opportunities and risks.
Third, the bitcoin market is more decentralized than the forex market, which may appeal to those looking for a freer, more independent market.
Finally, it's important to note that not all bitcoin exchanges are "shady" or "unsafe", and many of them provide a high quality service to their clients. However, as with any market, there are risks associated with Bitcoin trading and traders should be prepared for this risk and have a risk management plan in place.

Currency trading is undoubtedly one of the best in the world, but when compared to Bitcoin and its market there are always some things that currency traders do not dare to do because they do not know how to handle volatility, plus the volume is not consolidated. in Bitcoin, unless you have the resources to do it, which the whales do have, all these things are what make both markets different in a sense, apart from the fact that the Bitcoin market is hardly accepted by some economists, but it is something that can be dealt with.

both crypto and forex trading, both are equally profitable as long as we know how to deal with them. In my opinion for traders who are aggressive, then he will prefer to trade on crypto considering the high movements, but for scalping traders who avoid high movements it is better to choose forex, where many scalpers who trade avoid news that occur on forex, and of course it was unclear when there would be that news

Top Exchanges in crypto matters like binance, the same thing applies to forex and its called Brokers. Bitcoin is an important project when it comes to cryptocurrency because it have the largest trading volume and compact with high volatility in the space. Pro traders that understands the market easily trade Bitcoin without FUD and earned enormous profits from their trading positions been triggered with to their TP. While forex traders make more gains than crypto traders, however it depends on the market movement. XAAUSDm is what keeps me running every single day because I've already map out my flip zones on the charts and I know when to enter and when to opt out.

For me, I don't care what could other says about me. But doing trade in bitcoin trading industry is much more better rather than Forex.
It is also easy to understand compare in the Forex as well too. Besides, all the resources which I had invested was came all in the result of bitcoin trading through altcoins.

All broker that offer trading pair forex is leverage trading so the level risk will be higher because of leverage. We can see alot of trader got margin call in forex trading because that is CFDs trading product that use leverage. I trade on forex margin trading only when crypto turn in to down trend and will be more focus in crypto trading if all crypto already oversold.

many trade in both but for me I will continue to trade on cryptocurrency because I can focus and the money I use to trade is not much so I prefer crypto only

First trading bitcoin is safe as long as you know what you are doing, use a famous exchange and care about your security. I like trading in crypto because there's a lot of people here that are new to trading and they don't know what they are doing. I feel like it's easier to read the price movement based on the rumor and market sentiment compared to forex.