Cryptocurrency and forex trading

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The fact that digital coins are loosely regulated means that they pose more risks than forex. The forex and cryptocurrency industries are all rife with scams. Indeed, in the past few years, many people have lost millions of dollars in the two industries. For example, scams in the forex industry include fake bots and brokers.

However, in the past few years, the number of crypto scams has been on a sharp uptrend. In fact, real cryptocurrencies are scams that serve no purpose at all.

This is a common question among new traders. The reality is that this is a relatively difficult question to answer since the number of profits depend on traders themselves. Some traders have found it highly profitable to focus on the forex market while others have succeeded in the crypto industry. However, in terms of long-term investments, cryptocurrencies have been more profitable. There are both pros and cons of forex and cryptocurrencies.

In cryptocurrencies , the pros include the fact that they are offered on a basis. Also, there are thousands of digital coins in the market today. Further, since they are more volatile , many traders are able to find trading opportunities. The cons of cryptocurrencies are the significant scams available and the fact that the industry is less regulated and a higher level of risk associated with high volatility.

Forex has its pros and cons. For example, the industry is more regulated and has fewer scams than crypto. This results in more stable pairs and more predictable results.

The con is that most people in particular, novice trader who trade them fail , even though the profit margin is lower than that of cryptos. The higher regulation also represents an entry barrier that not all traders can face. There are several reasons why forex is better than cryptocurrencies. First, the forex industry has been around for decades and is, therefore, more stable than cryptocurrencies.

Second, while the industry is volatile, it is less prone to market risks. Additionally, it has a higher volume than cryptocurrencies.

This is significantly higher than the total market of cryptocurrencies. In this article, we have looked at some of the differences between forex and cryptocurrencies. While the two are highly-risky assets, we have seen that forex is much better for most traders. What if the comparison was between crypto and stocks instead? What is more realistically profitable, Forex or cryptocurrency trading? Sign up for The Opening Bell to receive our bi-weekly newsletter with actionable insights and hone your day trading skills with the help from our market experts and your favourite TraderTV personalities, delivered straight to your inbox every Tuesday morning.

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Feel free to leave a comment below. Leave a comment Cancel reply. Just like the forex market, stock exchanges are regulated by government authorities in different jurisdictions around the world.

Every currency has a trading session in which it is most active. In the same way, different stock exchange markets have their own open periods, typically at certain hours on work days. The most favorable trading hours for you may depend on the part of the world you are living in.

If your preferred session or stock market opens at an odd hour of the day, then it may be impossible to trade consistently.

On the other hand, the cryptocurrency market is open 24 hours a day, every day of the week, and you can execute trades at any time, even on weekends. So if you have a full-time job or are busy, the crypto market could be your best option, especially for weekend trading.

Long-term traders may not need to worry about trading time or sessions since they won't have to check their charts often and won't need to spend long hours trading.

Foreign exchange and stock markets have existed for a long time, and central authorities regulate them in different countries. Therefore, you should expect to see fewer fraudulent activities. Some regulators might be a little more lenient in their operations than others. On the other hand, cryptocurrency activities are largely not controlled by any central authorities.

To a great extent, the safety of your activities depends on how secure the crypto network is and the exchange's reputation. Cryptocurrencies and blockchains are difficult to hack, but cryptocurrency exchanges and cryptocurrency wallets are "easier" targets. Blue-chip assets are assets that have survived various bear markets and have the reputation of being valuable, stable, and established. The forex market has at least existed since the beginning of modern exchanges, which date back over years.

Some stocks and stock exchanges have also existed for over years. Bitcoin, the first cryptocurrency, was released in Thus, the oldest cryptocurrency is less than 15 years old.

If you want to invest in assets with a track record of surviving harsh market conditions, the forex and stock markets might be better options since the crypto market is less than 20 years old. However, in relation to other cryptocurrencies, Bitcoin and Ethereum have survived various bear markets within their respective years of existence and can also be regarded as blue-chip cryptocurrencies. You must be well-informed to succeed in the forex, crypto, and stock markets.

You must understand technical analysis and be abreast of important news and other fundamental factors regarding your markets of interest. We cannot understate the importance of getting the necessary education to trade in these markets. Trading is not easy; it requires patience, hard work, skills, and mastering your psychology. The crypto market is inherently the most volatile of the three, making it prone to wild market swings.

On the other hand, the stock market is the most stable, while the forex market sits somewhere in between. The crypto market may be a good choice if you want to invest in assets with constantly moving prices since you will get more trading opportunities.

The stock market is relatively less volatile than the other markets and offers less trading leverage.

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You need to have a skill set that can earn you, continuous, money пїЅ Income. If you think about it, even cryptocurrency. So, you buy a little bit of bitcoin, you buy a little bit of cryptocurrency?

So what? You need a continuous income stream, that allows you to do that. You need the ability to earn. To earn money on a regular basis. To pay for your bills.

Remember speculation is not a business. It is a virtual game. Speculation never generates continuous income flow.

Where your money grows virtually, but it does not help you. It is like a fun thing. The only thing you count on making money is you. I make me money. Those investments work because I work. Your investment would work only if you work. The only thing, the only person to count on to make you money, to make you successful?

It is you. Learn to think independently. Moneyexcel is the best personal finance blog in India. In short, we help you in achieving excellence for money. Contact us: info moneyexcel. By Shitanshu Kapadia. Last Update February 13, Should I buy bitcoin? Should I get into forex trading? Tags forex trading investment speculation. The purpose of this blog is to spread financial awareness and help people in managing money.

Please note that the views expressed on this Blog are clarifications meant for reference and guidance of the readers to explore further on the topics. These should not be construed as investment advice or legal opinion. Should You Invest in Crypto?

Not only do individual investors engage in trading activity in forex markets, but so too do major governmental and institutional participants:. According to data from Bitcoin Treasuries opens in new tab , a much smaller share of the bitcoin market has holders from governments, banks, investment funds and corporations than forex markets.

While bitcoin isn't perfectly representative of the entire cryptocurrency asset class, by looking at the breakout between market participants who hold bitcoin пїЅ the largest cryptocurrency by market capitalization пїЅ and those who don't, we can at least get an idea of how little institutional or governmental organizations are involved compared to forex.

To be fair, this only reflects bitcoin held on balance sheets of publicly traded companies, private firms, institutional investors, banks and governments. More could be held in inaccessible bitcoin, or bitcoin that's been lost or trapped in inaccessible cryptowallets. But while this indicates a higher percentage of bitcoins possibly held by other non-retail investors, the data still shows an overwhelming skew toward individual investors.

Forex markets experience the highest volume of any market in the world. Cryptocurrency markets have exploded in popularity over the past few years, but at the moment, they still enjoy far less volume and activity than forex markets. Forex markets see daily trading 24 hours per day, 5 days per week.

Crypto markets not only see the same type of nonstop weekday activity пїЅ that action extends to weekends as well. Stock Market Holidays in Both compare favorably to stock market exchanges, which have predefined hours on weekdays and close on weekends and national holidays. Where crypto vs. This means traders negotiate pricing based on supply and demand without governing oversight. Stocks, on the other hand, trade on organized exchanges like the New York Stock Exchange, Nasdaq or other national bourses, and carry stricter issuance and disclosure rules and guidelines.

Because these assets all reside in different markets, you might need different brokerage accounts and systems to access them. Some services provide access to one, two or all three. For example, Coinbase is limited to crypto offerings, while TradeStation and Interactive Brokers allow you to invest in cryptocurrencies, forex and stocks.

If you decide to use an investing app to trade crypto, you might not have the ability to withdraw your cryptocurrencies to cryptowallets, or a secure place to store your private keys tied to your unique coins. If you wish to withdraw your virtual currency to a cryptowallet, dedicated cryptocurrency exchanges such as Binance and Coinbase allow you to do this.

Further still, you can withdraw your virtual currency and load them onto anonymous prepaid debit cards to withdraw funds from ATMs. Funding and withdrawing money from forex accounts has a more familiar flow: Traders can make ACH transfers from their bank account, make wire transfers, use online checks, or even use credit cards in many instances. How Is Cryptocurrency Taxed? Here's What You Need to Know. When you trade one currency for another пїЅ say, U.

Specifically, you'll be shown how much it would cost to purchase the second currency called the quote currency with a single unit of the first base currency. When trading forex on a currency pair, you buy the base currency and sell the quote currency. In forex, trading pairs that involve the USD are called "currency pairs. In crypto trading, technically the same logic applies. Note: Not every crypto can be traded for another currency, fiat or virtual.

Trading pairs in crypto opens in new tab matter because some cryptocurrencies can only be bought with other cryptocurrencies, making knowledge of these pairs necessary to expand your crypto holdings. This gives investors a chance to arbitrage between trading pairs as well as compare the relative worth of coins. Depending on how an asset is classified, it falls subject to rules and regulations of certain regulatory bodies within the United States and other countries.

The U. Regulators and investors have traditionally seen cryptocurrencies a bit like a bystander witnessing Superman, asking "Is it a bird? Is it a plane? While this asset class has grown at breakneck speed, regulations around it have lagged. But here are some important cryptocurrency regulatory facts:. Forex or traditional currencies, on the other hand, meet a higher regulatory definition by classifying not only as commodities, but also as securities, Grossbard says.

Historically, for an asset to qualify as a security, it must meet the requirements established by the Howey Test, King says. This test came from a Supreme Court case which sought to determine whether a transaction qualified as an "investment contract. As of now, the SEC states that crypto fails to meet this definition.

However, this might change in the future as the Biden administration investigates matters further.

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When demand falls, it falls. However, bitcoin is not subject to the supply uncertainty created by international central banks. Bitcoin value is linked to the fundamentals of the cryptocurrency ecosystem, while forex matters are tied to the economic decisions and conditions of an individual nation and its currency. You can trade dollars for euros through forex, and dollars for bitcoins on the exchanges.

Another issue is the way individuals trade currencies. In addition to the one-to-one trading potential, currency traders can boost their leverage through derivatives and other paper contracts designed to boost returns.

In the current environment, some brokers are slowly underwriting contracts that will boost leverage in the bitcoin sector, but such contracts are still in their infancy. Bitcoin trading is more similar to the ownership of an equity on the New York Stock Exchange. Some are allowing investors to purchase bitcoin on margin, or they are creating new contracts.

But right now, trading is mainly speculation on the rise of the price of bitcoin. Perhaps the greatest difference between Bitcoin and Forex is the matter of liquidity. The smaller market in which bitcoin exists is more likely to experience a more volatile trading atmosphere and may see significant price swings over small macroeconomic events. The currency spot market is unregulated. However, the CFTC has yet to issue a formal ruling on how it defines bitcoin aside from it being an asset.

Several forex brokers state that individuals can deposit, withdraw, and trade on a bitcoin-based account. Other forex brokers have said they can include bitcoin trading into their platforms, but given that they are not BTC-based and trade other currencies, it is unclear that they are doing anything broader than allowing users to buy and sell bitcoin through existing bitcoin exchanges. Until forex platforms grow more robust in their bitcoin offerings, investors are better off working with bitcoin-based exchanges that trade in their national currencies.

These firms have a better understanding of the trading market, security requirements, and likely will have fewer trading costs associated with each purchase. Following the collapse of Mt. Gox, these exchanges say they have improved their models with better security mechanisms. For example, Coinbase, a San Francisco-based Bitcoin exchange, has expanded to over countries. Coinbase remains one of the most popular methods for investing in bitcoin.

By definition, Coinbase is a wallet that allows users to store, spend, buy, and accept bitcoin. The popular platform processes purchases of goods and services from a list of merchants, including Expedia Inc. EXPE and Overstock. To purchase bitcoin, users must create a bitcoin account and initiate a transfer of money into the account every time they want to purchase a bitcoin. Still, you can purchase at an agreed price, meaning that each transaction is locked in before the delivery of bitcoins to the individual account.

The growing popularity of bitcoin as an alternative investment has drawn the attention of forex brokers who are looking to expand their offerings. Some define bitcoin as a traditional currency, especially since the trading of bitcoins is not based on the macroeconomics of a nation, but instead the underlying platform and broader reaction to shifts in global economics. Trading bitcoin shares many similarities, but doing so through a forex broker is not required, and could be more costly if they charge higher fees than traditional bitcoin platforms like Coinbase.

Investors should consider the risks associated with bitcoin and alternative currencies, and decide whether that form of speculation is right for their portfolios.

The Law Library of Congress. Bank for International Settlements. Congressional Research Service. Commodity Futures Trading Commission. National Futures Association. Financial Conduct Authority. Your Money. Personal Finance. Your Practice.

Popular Courses. They are just investments. It is in simple terms you buy currency at a certain rate, and hopefully, you buy low. And you sell currency at a certain rate. Hopefully, you sell it high, right? You buy low and sell high. For Example пїЅ Say you have a lot of revenue coming in, in U.

Then, you would see when is a good time to hold on to a certain amount of dollars of U. Then, you are gonna sell some U. So that, to pay for the company expense and all of that stuff. You are trying to utilize the capital more efficiently. When it comes to money there are three things you need to know. That is nothing! The very first thing that you have to do is, focus on making it. Maximizing your income. Not to be frugal, but you keep it, you accumulate it so that you could invest.

Now you can invest in something that is sustainable. Something that will provide you with a good return. You need to have a skill set that can earn you, continuous, money пїЅ Income. If you think about it, even cryptocurrency. So, you buy a little bit of bitcoin, you buy a little bit of cryptocurrency? So what? You need a continuous income stream, that allows you to do that.

You need the ability to earn. To earn money on a regular basis. To pay for your bills. Remember speculation is not a business. It is a virtual game.

Speculation never generates continuous income flow. Where your money grows virtually, but it does not help you. It is like a fun thing. The only thing you count on making money is you.