Is there a difference between Crypto trading and forex trading?

[Kingsley]

In Cryptocurrencies, a coin is exchanged on shared premise ,which includes exceptionally less expense and no contribution of mediators. While if there should be an occurrence of forex market, generally handles encourage exchanges among members and that frequently adds a layer of additional expenses.

Forex market has a ton of instability, yet it is a lot of lower than the crypto market, so exploiting little value developments is simpler in crypto exchanging.

Digital currency markets carry on in a totally different example than conventional forex markets.

I understand forex trading to be about trading fiat currencies which have more stability. I find it to be so complicated and requires so much learning and research for one to master. As for crypto trading, it involves trading digital currencies which are not stable. Their volatility makes them easy to trade and one easily learn crypto trading.

What's your understanding of this?

 

[Chibson]

Of course there is a clear difference between cryptocurrency trading and forex trading. Forex tradingmajorly deals with buying and selling of currencies. I don't really know much about this line of business. cryptocurrency trading or the other hand deals with buying of cryptocurrencies that has the tendency to rise and you take your profit.

 

[sincerem]

Crypto trading and forex trading looks similar, in fact its terminologies looks almost the same. In forex trading it uses leverage, stop-loss, and buy and sell order etc. Just as crypto trading uses same features or terminologies when a trader is about trading a coin pairing. If you understand crypto better, you'll have a clue how forex trading looks like.

 

[A K Rao]

In Cryptocurrencies, a coin is exchanged on shared premise ,which includes exceptionally less expense and no contribution of mediators. While if there should be an occurrence of forex market, generally handles encourage exchanges among members and that frequently adds a layer of additional expenses.

Forex market has a ton of instability, yet it is a lot of lower than the crypto market, so exploiting little value developments is simpler in crypto exchanging.

Digital currency markets carry on in a totally different example than conventional forex markets.

I understand forex trading to be about trading fiat currencies which have more stability. I find it to be so complicated and requires so much learning and research for one to master. As for crypto trading, it involves trading digital currencies which are not stable. Their volatility makes them easy to trade and one easily learn crypto trading.

What's your understanding of this?

In my opinion Crypto currency trading is trading of the virtual currency and here one can directly trade the currency in the market as per the market rates. We have systematic wallets and banks for that purpose. Here we don't have any commission agent who would advise us and charge us, In forex trading we are trading the real or fiat currency and we are involving the agent in trading who in turn charges some commission and we need to study the international market trend very carefully in forex trading!

 

[Chibson]

There if no doubt that forex trading is very risky but at the same time it is very profitable if done rightly. I am a student and there are so many people into forex trading in my school and I can save you if you delete that they are making cool amount of money. I am also in the line of cryptocurrency which many people who are also into. the similarity between forex trading and cryptocurrency trading is that there are similar terminologies and you can use the same strategy to make profit in the both of them. Just that forex trading deals on currencies while crypto deals with cryptocurrencies.

 

[Chibson]

There if no doubt that forex trading is very risky but at the same time it is very profitable if done rightly. I am a student and there are so many people into forex trading in my school and I can save you if you delete that they are making cool amount of money. I am also in the line of cryptocurrency which many people who are also into. the similarity between forex trading and cryptocurrency trading is that there are similar terminologies and you can use the same strategy to make profit in the both of them. Just that forex trading deals on currencies while crypto deals with cryptocurrencies.

 

[Suba]

The main difference between forex trading and crypto trading is the type of asset being traded. the difference between the two economic and fundamental data that we use for decision making and analysis is also different,
Forex
For fundamental analysis, forex traders will look for news on the state of a country whose currency pair we use, for example USD/RUB, of course we will see or look for news about the state of the Russian economy, traders will also pay attention to the sentiment of economic data in America so that we will get what information which affects the market's interest in the USD, so in general we analyze both ways. The state of forex is also greatly influenced by global economic conditions such as the Covid-19 pandemic.

Cryptocurrency
For the fundamental aspects of crypto we rely on blockchain news both updates and inserts new features, changes from PoW to PoS, tweets of famous people, Big transactions both sales and purchases. Currently, crypto is used more as a safe haven than as a trading instrument. Because currently more amount of crypto is stored on exchanges than traded. there is no fee for storing on crypto exchanges, while if we save fiat money at a forex broker, we will be charged an overnight fee.

To my knowledge more people use swing trading than day trading crypto. Crypto trading is done 24/7, whereas forex trading is done only 24/5.

 

[Mika]

I have never been involved with forex trading. I once joined a forex trading company, enrolled for their free course, and traded through their demo account, I even made some profits on my demo account, however, I never funded my forex trading account. Therefore, I have no practical experience. Currency price depends on various factors like the economic standing of the country, imports, and exports of the country, trade deficits, gross domestic product, Purchasing power parity, etc. Therefore, if you understand the key terms associated with the economy and if you are alert to the economic situation in the country, you can make profits with forex trading. It is risky but there are ways to minimize the risk. crypto trading on the other hand does not have any visible metrics, the price can go up or down just when an influential person tweets, the price will move when government takes a decision on something, the market can go bearish when there is a war, the price can also go up when the war is at the height (as we have seen in recent times). Therefore, crypto market is more volatile than the forex market and crypto trading is riskier than forex trading.