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What is the difference between Crypto trading and forex trading??

  • Thread starter Thread starter Sincerem
  • Start date Start date
Sincerem said:
I find this two categorized trading very difficult to understand, they are similar to each other almost with same features to get started with. Can any one out there help me to solve this issue that I'm finding difficult to understand?? I need basic knowledge about this two before I will embark, trading on them.
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There is no serious differences between both of them as they are all extremely volatile and require a serious understanding to trade it perfectly, the difference is just the asset you are using
 
Jlife said:
There is no serious differences between both of them as they are all extremely volatile and require a serious understanding to trade it perfectly, the difference is just the asset you are using
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Yes their is no much difference around the two dear. The only difference is the asset used in trading them. They are volatile, and risky which van liquidate one's fund without experience easily.
 
Crypto currency exchange Business is buying and trading of coin or token of a company while forex is the trading of pairs. They are two different things Even though they use same chart to read their movement
 
Afoskalex said:
Crypto like Forex involve trading currencies. Forex is larger compare and well established to Crypto. Forex has middlemen and brokers but crypto does not have. Market for crypto is 24/7(everyday of the week) while Forex is 24/5(five days in a week).
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The difference between crypto trading and foreign trading is about crypto trading is the trading of electronic on why forex trading is the trading of foreign currencies
 
woookje said:
I never use forex, but crypto trading its a little bit dangerous
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I completely agree that trading Forex is very dangerous but for cryptocurrency trading it is not dangerous if you know what you are doing as there are strategies you can deploy in your cryptocurrency trading that will make you not to ever make a loss.
 
Forex trading is more stable, more protected, and highly regulated. Crypto trading carries the promise of much larger returns than Forex, at the cost of the stability of Forex.
 
Crypto trading, just like forex, involves trading currencies ... Forex involves middlemen, brokers and various other institutions that usually collect fees at almost every step of the trading process. However, in crypto trading, there's no middleman and that's probably the biggest attraction to it
 
The similarities is that they both traded currency pairs but the sharp differences is that one uses the fiat currency while the others uses a virtual currency. Both needed an in depth analysis before you go into trading. They both need technical analysis.
 
Reedex said:
The similarities is that they both traded currency pairs but the sharp differences is that one uses the fiat currency while the others uses a virtual currency. Both needed an in depth analysis before you go into trading. They both need technical analysis.
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Actually for any kind of trading market, it is important to have a base currency. In forex trading we use USD as base currency, where as in in crypto trading we use stablecoins like usdt or busd.
 
Sincerem said:
Yes their is no much difference around the two dear. The only difference is the asset used in trading them. They are volatile, and risky which van liquidate one's fund without experience easily.
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Okay, are you a cryptocurrency trader or a forex trader ,which one is the one you are doing currently to also make money, I am also interested in learning one of them to start making money online
 
Jlife said:
Okay, are you a cryptocurrency trader or a forex trader ,which one is the one you are doing currently to also make money, I am also interested in learning one of them to start making money online
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I am into Cryptocurrency trading via Binance. But I don't trade often, my knowledge haven't grown to expert level but I know the simple basics around trading.
 
Sincerem said:
I am into Cryptocurrency trading via Binance. But I don't trade often, my knowledge haven't grown to expert level but I know the simple basics around trading.
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It's nice ,at least since you have known some simple and foundation understanding of cryptocurrency and how its work, you might get back to it whenever you have the time and you are ready to face it wholeheartedly.
 
Jlife said:
It's nice ,at least since you have known some simple and foundation understanding of cryptocurrency and how its work, you might get back to it whenever you have the time and you are ready to face it wholeheartedly.
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Yes, I'll soon get back to it since the market is showing glimpses of improvement I'm seeing the bull run ticking closer.
 
The difference between crytop currency and forex trading is that in crypto you trade coins while in forex market you trade currency pair.
 
Raz1911 said:
Actually for any kind of trading market, it is important to have a base currency. In forex trading we use USD as base currency, where as in in crypto trading we use stablecoins like usdt or busd.
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Do you not use USD for the valuation when you trade in crypto coin? I have seen that all crypto coins are valued in US dollar which means the crypto coin industry is dependent on the currency of the US. That is a clear proof that crypto coin is a commodity and not a currency.
 
Forex trading and cryptocurrency trading is quite related but I think they are different in so many aspects. Forex trading involves Fiat currencies and trading of one country's currency over another.
 
Sincerem said:
Yes, I'll soon get back to it since the market is showing glimpses of improvement I'm seeing the bull run ticking closer.
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I've been following the price of BTC all alonG and the price of bitcoins has break the $40,000 resistance and we just expect the price will continue to go up to 50,000 dollars and even more, I want to recover all my money.
 
Alexandoy said:
Do you not use USD for the valuation when you trade in crypto coin? I have seen that all crypto coins are valued in US dollar which means the crypto coin industry is dependent on the currency of the US. That is a clear proof that crypto coin is a commodity and not a currency.
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It seems to you that we value it with USD, but in reality it actually converts from usdt. That is USD tether. And the value of USD tether depends upon the USD currency. Ultimately the USD is the base currency.
 
I think forex trading is very risky according to the testimonies I have heard, crypto currency trading is a very easy way of making money online. It is less risky .
 
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