Crypto or Forex? - page 9. | Bitcointalksearch.org

Rigon

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Quote from: hack3rcon on March 11, 2023, 08:32:29 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.

BitMaxz

legendary

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Block halving is coming.

In addition Crypto is decentralized, meaning it is not controlled by any authorities, than forex markets which are controlled by central banks and other financial institutions. That's why it is far from government interference and manipulation compared to forex and it is more attractive to traders who prefer to trade in a decentralized environment than a centralized one.

Oceat

sr. member

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Both are good for making profit but you have to be full time trader which means you have to know what you are doing or else you will lose all of your funds. Trading is not just like a walk-in-the-park, you have to be dedicated with what you do hence you need a vast understanding and knowledge in certain products you are trading.

But if you are just starting it's better not to ride the flow yet but proceed to read and learn how to trade properly even if you have losses your winnings matter over losses.

Hamphser

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Quote from: hack3rcon on March 11, 2023, 08:32:29 AM

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

Thank you.

Crypto

- Volatile
- Decentralize
- Not totally regulated
- Decent profits but higher risks

Forex

- Dealing up with currencies
- Less volatile = less risk
- Less risk = less profits
- Regulated market

If you do choose up then you could actually have both but this would really be requiring
that proper time management because we know that technical indicators isnt everything on which news and other fundamentals
could significantly affect the movement and this should really be bare up on our minds.

cute nmp

jr. member

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Crypto trading can be profitable as well as forex but I will definitely go with crytocurrency because it has less market manipulation and much simpler.Many are successful with forex but I advised you to start with cryto especially if you are a beginner when you become more advanced you can move to forex or do both.

Findingnemo

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Bitcoin = Financial freedom

Quote from: hack3rcon on March 11, 2023, 08:32:29 AM

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

Thank you.

Is it about trading or utility?

Forex trading is in practice for decades but the reward ratio is negligible compared to the cryptocurrency trading along with its risk factor so one who understand it can choose which one will be suitable for them.

Rruchi man

legendary

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Quote from: hack3rcon on March 11, 2023, 08:32:29 AM

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

Choose crypto over Forex when you know that are better off and more interested in cryptocurrency. They are both profitable if that is your point of reference, what you decide to do will depend on your interest mostly.

You can get basic knowledge about trading both cryptocurrency and forex if trading is your interest, and then decide which to stick with.

Since you are in this forum, I take it already that you have a solid interest in cryptocurrency, crypto trading should be your interest.

Lucius

legendary

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Blackjack.fun-Free Raffle-Join&Win $50🎲

Quote from: hack3rcon on March 11, 2023, 08:32:29 AM

~snip~

Both options have something in common, which is that if you don't know what you're doing and you have a lot of money, the result will be the same - you won't have any more money. As much as it seems like some kind of old news, I keep reading that only about 5% of those who try to trade in these ways are successful in the long term.

The best chance most people have is to buy something cheap, wait a certain period and then try to sell it at a higher price. Of course, everyone can try to be in the 5% that will be successful in the long term. Your money, your risk.

Xal0lex

staff

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Forex works through a broker, cryptocurrencies allow you to work with the market directly.

In cryptocurrencies you buy assets, and in forex you bet on who gets the better rate. Don't think that in forex you are trading currency.

The crypto market runs 24/7, while forex has market closings

In the crypto market you can remain anonymous, while in forex you can't.

On forex you can choose huge leverage, while on the crypto market you can trade with very small deposits.

mk4

legendary

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🪸 NotYourKeys.org 🪸

It's like choosing between a restaurant business and a carwash business. In the end it's going to depend on the person handling the business.

But to answer your question: crypto tends to be more volatile, which forex — not so much. But you can magnify forex movements by using leverage.

348Judah

hero member

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Cryptocurrency is different from forex, but you have to understand that they share almost similarities in pairs they work with, both has to do with price speculation and i see forex dealing more of fiat currencies than cryptocurrency, they both are volatile, crypto like bitcoin is a currency itself and can also serve as an asset for investment while forex is a pair of currencies that where exchanged from one to the other.

jeraldskie11

sr. member

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Quote from: hack3rcon on March 11, 2023, 08:32:29 AM

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

Crypto and forex can be both profitable. The only difference that I have seen between for forex and crypto is the "volatility". Crypto has the higher volatility than Forex.
They're also both have manipulation. However, we have different perspective and experiences in trading forex and crypto. Because of the combined manipulation and high volatility in crypto, it has big chance to hit the stop loss. Unlike forex, you can easily spot the manipulation. That's why most of the profitable traders uses forex.

Some cases why anyone choose crypto because they don't know how forex works, others are got hype by their mentors just by showing winning trades not the PNL and WinRate.

Daniel91

legendary

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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.
Of course, you can join the crypto as a trader, which is also very risky, but you can also join as a long-term holder, and it is a much safer way to invest.
History has shown that anyone who invested in bitcoin and didn't sell it long enough ended up making money. Of course, someone will say that this long-term trend of bitcoin growth will end once and for all, but at the moment it seems to me that there are more optimists about the further growth of the value of bitcoin. Of course, you should still be aware that it is a risky investment, whatever you decide.

Oshosondy

legendary

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...gambling responsibly. Do not be addicted.

Both are good and can be profitable but the risks of both are high and the loss can be very similar to gambling. You can choose any that you like but know that both are risky. I have been into crypto trading for years and I know someone that have been into forex for a long time too, just that you need to read very well about how to trade. But as for me I prefer crypto trading while forex traders will choose forex.

These is very important to take note of:

use the money that is lower than the amount you can afford to lose to start
use the money that you can afford to lose to trade when you have known about trading already

hack3rcon

member

Activity: 354

Merit: 10

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

Thank you.

Topic: Crypto or Forex? - page 9. (Read 1178 times)