Crypto or Forex? - page 8. | Bitcointalksearch.org

Mpamaegbu

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Quote from: hack3rcon on March 11, 2023, 07:32:29 AM

What are the Advantages and Disadvantages of the Crypto and Forex?

Advantages – You can make money from both.

Disadvantages – You can lose all your life savings in both.

On a more serious note (the notes above are also from serious observation, anyway), apart from the crypto market being always open and traders can go on trading anonymously; both industries are the same. The ease of comfort and earnings they afford once one gets it right and become profitable is indescribable. I don't think there's any online business that's as lucrative as these two markets (May be Binary too). Yes, the Forex market is way ahead of Cryptos in market cap. If that counts.

Lubang Bawah

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I once traded on forex but it was very difficult to make a profit, at that time I had around $2500 capital, the price movements of the forex were very slow or barely moving for a long time, if we trade forex with a value of at least $1 million then you will see profit or loss, but if we trade on forex with a value of less than $ 1 million, it will be difficult to see movement, the thing is different with crypto, fluctuations in bitcoin can reach more than 10% per day so it is feasible for us to make it a job.

adaseb

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Trading forex is not that easy. You are against institutions and governments. And there is very little tools available. For example there is no volume what so ever. What you see displayed in some exchanges is not real volume it’s just an estimate based on ticks per interval.

You got no liquidations data or open interest what so ever. Crypto is tough but not as tough as forex. Forex seems nice with its 500x but actually making money with it is another challenge.

GreatArkansas

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Quote from: samcrypto on March 13, 2023, 04:49:06 PM

Quote from: JooBra on March 13, 2023, 04:50:08 AM

I tried both of them and crypto makes more sense Forex has little time frames and needs a lot of money for trading. For small trader who is starting I suggest crypto then after some time you can go to forex.

This is also the reason why I didn’t push through my Forex trading account, its too expensive to deal with them and my broker is not that good when it comes to trading forex. In crypto, you can start small and trade 24/7 because there’s no rest for the market.
(....)

This is the best explanation or difference when you trade forex versus cryptocurrencies.
The fees are extremely high compared to when you use some centralized exchanges on crypto, it's really far from forex fees.

Besides volatility, which is already given. I also found out that the user interfaces on some platform of Forex trading platforms are difficult to use or not user-friendly compared to what we have right now on cryptocurrency, extremely user-friendly and easy to use with great user interface and user experience (UI/UX).

kawetsriyanto

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Quote from: hack3rcon on March 11, 2023, 07:32:29 AM

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

This is a basic question, dude. You actually can google and find out the answers yourself. Roll Eyes

- https://www.investopedia.com/terms/c/cryptocurrency.asp
- https://www.investopedia.com/articles/forex/050115/pros-cons-forex-trading-career.asp

I personally choose crypto because it is easier than Forex. We can easily transfer funds to buy any crypto coins both in CEXs or DEXs. We simply don't need third parties. So, we can make an entry or an exit at any time. It is fast and not complicated.

Another reason is its volatility. I like the volatility, it offers the opportunity to gain bigger profits. A far as I know, Forex mostly has no high volatility as in crypto, it is hard to expect bigger profits as we invest in crypto coins.

CMIIW

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Quote from: JooBra on March 13, 2023, 04:50:08 AM

I tried both of them and crypto makes more sense Forex has little time frames and needs a lot of money for trading. For small trader who is starting I suggest crypto then after some time you can go to forex.

This is also the reason why I didn’t push through my Forex trading account, its too expensive to deal with them and my broker is not that good when it comes to trading forex. In crypto, you can start small and trade 24/7 because there’s no rest for the market.

Both of them are good to some while the others are tend to focus in one market only, with this given option crypto trading are more suitable for me because of many reasons. You can try both market though and when you experience it already, you can decide now where to trade more.

andriarto

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Quote from: Hyphen(-) on March 13, 2023, 04:24:02 AM

Quote from: hack3rcon on March 11, 2023, 07:32:29 AM

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

Thank you.

Both are good and profitable. They both involve a high risk that is difficult to control, but the choice is yours because everyone has his or her own choice of what to do, even though the Forex Market is more difficult to predict than the crypto Market, where the price of Bitcoin determines the growth or part of other coins (Altcoin).
I chose cryptocurrency because it is very simple for me to understand. Although I never try to learn too much about Forex, the popularity of Bitcoin has convinced me that cryptocurrency is a better option than Forex.

basically trading forex or crypto is the same, I use the same technique on both, relying on support and resistance I open trades with discipline against the framework that has been created, for me trading on crypto has its own challenges, because the market moves faster, so by scalping I can make profits repeatedly. Forex trading also has its own level of difficulty, where there are certain hours for news that have a significant effect, so in scalping I usually avoid those hours.

ethereumhunter

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Quote from: palle11 on March 12, 2023, 08:35:46 AM

Quote from: ethereumhunter on March 12, 2023, 12:02:50 AM

And the best part is that if you use Crypto, even if you experience a decrease in the value of your money, you still have a chance to sell it at a high price as long as you can still hold the coin.

That is because you can only decide to hodl your coins in your wallet or an exchange wallet without trading it so that when the value of the coin depreciates, it does not affect the number of unit of the coin you have but what has happened that you sell at losing end because of the value that dropped but you are still having something to sell. This happens to be an advantage for cryptocurrency because you can hodl it but not trade it and after a long time you can still declare profit if price goes higher from what you bought it. Forex trading is not that way sadly, you don't have the opportunity to hodl but only trading for profit or loss.

That is what we have to do if we want to avoid being provoked by the situation in the market. By holding it in our personal wallet without trading it, we can return to the market when the price increases. And by having self-control in holding your assets in crypto, you don't need to panic if one day your crypto assets experience a decline because we have experienced ups and downs in market prices. That is why I recommend trading or investing in crypto more than trading Forex.

Quote from: palle11 on March 12, 2023, 08:35:46 AM

Quote from: ethereumhunter on March 12, 2023, 12:02:50 AM

I don't know if Forex can also be like that because I have never used Forex to trade. Besides that, when a friend offered me to start trading Forex, I really needed a lot of money and didn't have much money. But by trading Crypto, you can determine the amount of money you want to start trading.

There are different forex brokers that you can trade with very small amount of money like $20 start up.

At that time, there weren't too many forex brokers and I met this friend offline and he tried it by joining a local forex broker. And because it requires a very large capital to start, I just pass it with a smile. But when I got to know crypto, where I can even get it for free, I thought it was easier. And the analysis that is in crypto is not too complicated for me either.

JooBra

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I tried both of them and crypto makes more sense Forex has little time frames and needs a lot of money for trading. For small trader who is starting I suggest crypto then after some time you can go to forex.

Hyphen(-)

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Quote from: hack3rcon on March 11, 2023, 07:32:29 AM

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

Thank you.

Both are good and profitable. They both involve a high risk that is difficult to control, but the choice is yours because everyone has his or her own choice of what to do, even though the Forex Market is more difficult to predict than the crypto Market, where the price of Bitcoin determines the growth or part of other coins (Altcoin).
I chose cryptocurrency because it is very simple for me to understand. Although I never try to learn too much about Forex, the popularity of Bitcoin has convinced me that cryptocurrency is a better option than Forex.

goaldigger

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Quote from: ?? on ??

It seems to me that this choice is quite individual. At least, I would choose according to the level of knowledge of the market and, in general, according to the understanding of the work process.

This should be the basis, both of them have their own pros and cons but the question is, your knowledge about it. If you don’t know much about forex then why you will force yourself to invest on that? Same thing with crypto.

If you know both market already, I’m sure you can easily know where to invest more and what market to spend more time because you believe that you can be more profitable on that.

jossiel

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I haven't tried forex but even if someone encouraged me to do it, I won't.

It's because when I was looking for study materials and searching for experiences and testimonials of the traders of that market, I find it difficult honestly and it's not the type of market that I should go on.

I know myself better and if I'll continue and will try hard on it, still, I think that I will never find my success there. That's why when I see someone who's doing both markets, I acknowledge their greatness.

teosanru

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Quote from: hack3rcon on March 11, 2023, 07:32:29 AM

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

Thank you.

Why crypto over forex for trading, simple reasons
1. Better volatility, forex markets are generally the worst when it comes to volatility. Crypto markets move more than 5% on each day giving you lot of scope of profits and losses as well. Forex move much less but obviously there is high leverage involved making profitability almost even.
2. Macroeconomics: Crypto macroeconomics is generally much difficult and variable on various aspects than forex which is mostly a barometer of country's economic situation and a little bit of speculation.
3. Options for trading: you have a lot of options when it comes to Crypto trading. In forex you just have handful of options.

Nrcewker

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Quote from: hack3rcon on March 11, 2023, 07:32:29 AM

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

Thank you.

Both are good, and both have advantages and disadvantages. Now it completely depends on a person and which aspects he is looking at in each. I will choose crypto over forex trading; the reasons are pretty clear. Forex trading has unnecessary fees, taker fees, maker fees, buying fees, and selling fees. Moreover, it’s regulated by the government, so they keep track of each and every transaction of yours and your movements. On the other hand, crypto trading doesn’t have any hidden charges. Moreover, due to the decentralized nature of the coin, no government can really control or regulate it. Now OP it’s your choice, what you gonna chose.

naikturun

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actually I think it depends on where they like it, the crypto market has the advantage of being open during the whole week, while forex is not open on weekends, but if you look at market capitalization, forex is far superior to crypto.

bettercrypto

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Quote from: hack3rcon on March 11, 2023, 07:32:29 AM

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

Thank you.

Quote

The advantage of Forex are:

1. Flexibility
2. Transparency
3. Trading options
4. Transaction costs
5. Leverage

Disadvatanges of Forex:

1. COunter party risks
2. Leverages Risk
3. Operational Risks

Source: https://www.managementstudyguide.com/advantages-and-disadvantages-of-forex-market.htm

Quote

5 advantages of cryptocurrency

1. High risk—and the potential for high rewards
2. The blockchain technology underlying cryptocurrency is inherently secure
3. Bye bye traditional banks—hello to a fairer, more transparent financial system
4. Crypto trades around the clock
5. Cryptocurrencies could help investors beat inflation

5 disadvantages of cryptocurrency

1. Understanding cryptocurrency takes time and effort
2. Cryptocurrencies can be an extremely volatile investment
3. Cryptocurrencies haven’t proven themselves as a long-term investment—yet
4. Crypto has serious scalability issues
5. Crypto newbies are vulnerable to security risks

source: https://n26.com/en-eu/blog/pros-and-cons-of-cryptocurrency

I will choose cryptocurrency because this is where I became aware to learn to trade digital currency and it became a road instrument for me to get a source of income in this field of business. I tried Forex once but I didn't feel comfortable, instead I was more comfortable with cryptocurrency.

palle11

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Quote from: ethereumhunter on March 12, 2023, 12:02:50 AM

And the best part is that if you use Crypto, even if you experience a decrease in the value of your money, you still have a chance to sell it at a high price as long as you can still hold the coin.

That is because you can only decide to hodl your coins in your wallet or an exchange wallet without trading it so that when the value of the coin depreciates, it does not affect the number of unit of the coin you have but what has happened that you sell at losing end because of the value that dropped but you are still having something to sell. This happens to be an advantage for cryptocurrency because you can hodl it but not trade it and after a long time you can still declare profit if price goes higher from what you bought it. Forex trading is not that way sadly, you don't have the opportunity to hodl but only trading for profit or loss.

Quote from: ethereumhunter on March 12, 2023, 12:02:50 AM

I don't know if Forex can also be like that because I have never used Forex to trade. Besides that, when a friend offered me to start trading Forex, I really needed a lot of money and didn't have much money. But by trading Crypto, you can determine the amount of money you want to start trading.

There are different forex brokers that you can trade with very small amount of money like $20 start up.

ethereumhunter

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The advantage of Crypto and Forex is getting huge profits.
The downside to Crypto and Forex is getting big losses.

People choose Crypto over Forex based on many considerations they only know about.

I chose Crypto over Forex because the analysis is less complicated than Forex and we can analyze it using several indicators. And the best part is that if you use Crypto, even if you experience a decrease in the value of your money, you still have a chance to sell it at a high price as long as you can still hold the coin.

I don't know if Forex can also be like that because I have never used Forex to trade. Besides that, when a friend offered me to start trading Forex, I really needed a lot of money and didn't have much money. But by trading Crypto, you can determine the amount of money you want to start trading.

libert19

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Quote from: hack3rcon on March 11, 2023, 07:32:29 AM

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

Thank you.

Most centralized exchanges nowadays are slowly making kyc mandatory but when I started there was no exchange that required kyc to trade coins. It was only reason for me then to choose crypto over forex. I'm fan of less fuss, and crypto provided exactly that.

borovichok

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Quote from: Rigon on March 11, 2023, 06:58:17 PM

Quote from: hack3rcon on March 11, 2023, 07:32:29 AM

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

If I was asked to choose between crypto currency and forex, I would definitely choose crypto currency. Because for me crypto currency is the best I am earning money from here. I have earned a lot of money in my life from here. And I have quite good experience about cryptocurrency trading. But I have never done forex trading, I have no experience and I don't know its pros and cons. Although there is a lot of money to be made from here but it is of no value to me because I know nothing about forex. I know about crypto currency its importance to me is immense.

You select cryptocurrency because you are familiar with its instruments and skilled at futures trading, which is the oil well of cryptocurrency trading. I'm not disputing that cryptocurrency can offer profits, but one must deal with a knowledgeable person. I'm good at timing the forex market because I'm so calm, especially when news starts to come in around midweek. NFP news is my favorite because huge profits are always made from these news. With the exception of cryptocurrency, which is banned in some countries and has severe consequences, there are no limits or restrictions on the forex market because it was approved by the government.

Topic: Crypto or Forex? - page 8. (Read 1256 times)