Topic: Is Forex trades is a part of Crypto Trade? - page 4. (Read 699 times)
However, I wouldn't compare the two options. There is a certain difference between them, and each type of such trading requires a certain level of skill.
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We all know that for doing forex trading we can only use fiat currency . Forex trading is only related to Fiat currency. On the other hand crypto trading support both fiat and crypto currency . This is the major difference of them .Moreover there are many more small and big difference.
There are two things you can do in trading, if you want to do it.
1. Foreign exchange trading, you can do it through the Forex market channel.
2. Trading in cryptocurrencies you can use crypto exchanges, such as Binance and your local exchange.
today in many forex brokers they also provide cryptocurrency in their trading list, but in this forex brokers we didnt trade real coins but only its value. they have no supply that store in exchanges wallet just like in cryptocurrency exchanges. 1. Foreign exchange trading, you can do it through the Forex market channel.
2. Trading in cryptocurrencies you can use crypto exchanges, such as Binance and your local exchange.
If you want to trade in forex and crypto, of course they are very significant assets and have a difference.
forex you must have large capital to trade and to determine profits, while crypto does not require a lot of capital like forex, of course forex profits are bigger than crypto.
Forex and Crypto trading are the same instrument, they only prioritize investments to generate profits based on trading activities, in general, maybe everyone knows Forex is based on trading in foreign currencies and while crypto trading is based on certain types of crypto that are on the exchange.
There are two things you can do in trading, if you want to do it.
1. Foreign exchange trading, you can do it through the Forex market channel.
2. Trading in cryptocurrencies you can use crypto exchanges, such as Binance and your local exchange.
If you want to trade in forex and crypto, of course they are very significant assets and have a difference.
forex you must have large capital to trade and to determine profits, while crypto does not require a lot of capital like forex, of course forex profits are bigger than crypto.
Now you can make the choice to trade forex or crypto, it all comes back to yourself to start with.
There are two things you can do in trading, if you want to do it.
1. Foreign exchange trading, you can do it through the Forex market channel.
2. Trading in cryptocurrencies you can use crypto exchanges, such as Binance and your local exchange.
If you want to trade in forex and crypto, of course they are very significant assets and have a difference.
forex you must have large capital to trade and to determine profits, while crypto does not require a lot of capital like forex, of course forex profits are bigger than crypto.
Now you can make the choice to trade forex or crypto, it all comes back to yourself to start with.
OP you have already the idea of forex and they're fiat currencies to trade. They're also volatile if you're in that market but they're not as volatile as cryptocurrencies.
You have the answer that the forex market is entirely different from the crypto market. But you can apply the strategies that you know in forex in crypto trading.
You have the answer that the forex market is entirely different from the crypto market. But you can apply the strategies that you know in forex in crypto trading.
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.
You got confused because they are all the same in nature which is trading and both use USD as trading pair. But apparently, they are totally different and what makes the two differ is the currency being used as crypto trading uses crypto-crypto-stable coins while forex just only used fiat-fiat currency as trading pairs. This is just an obvious difference that they have, some can be searched on google, and here is on example...
https://www.bing.com/search?q=difference+between+forex+and+crypto+trading&cvid
More likely no than yes. These are still relatively different industries that have their own characteristics that need to be understood and evaluated.
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.
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.
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.
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.
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.
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. 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. 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.
Pretty simple.
forex: fiat currency <-> fiat currency
crypto: fiat currency <-> crypto, or crypto <-> crypto
Exactly and on point!forex: fiat currency <-> fiat currency
crypto: fiat currency <-> crypto, or crypto <-> crypto
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.
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.
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.and I made a typo and I mean centered, thanks for the correction.
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.
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 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.
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.
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.
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