Here I am going to discuss the differences or similarities between the two topics currently being discussed, the main investment earning way is cryptocurrency and forex.
If you know what Forex Market is and how to open a new account, you will be able to easily understand the difference or similarity of cryptocurrency with Forex Market.
Forex market is a platform that is very rickshaw. Many people have become destitute while trading in the Forex market. You will see very few traders who have survived on this platform successfully. To trade in the Forex market, you must first be a skilled trader, or you may be one of the bankruptcies. So refrain from daring to trade in this market based on emotions.
Before you start trading in the Forex market, you can test your skills by opening a demo account. You will not find demo trading facility in the cryptocurrency market.
Leverage is available in the Forex market. Which is not available in the cryptocurrency market. Leverage ranges from 50 to 2000 depending on the policies of different trading brokers in the Forex market. As a result, you will enjoy the benefit of maximizing profits with the benefit of trading extra lots without increasing your initial investment (the probability of maximizing losses is the same, you may even lose the entire investment). Excess leverage is a threat to the account.
Forex market has trading commission facility which you will not get in cryptocurrency trading. In the Forex market, brokers like XM, Exxon etc. pay commission on certain lots when they open their ECN account and trade.
Before we learn about the cryptocurrency market, we need to know what a cryptocurrency is and how it originated. And since the core of cryptocurrency is rooted in blockchain technology, it is good to know what a blockchain is and how it works.
Even then, cryptocurrency is a digital currency. Which has no existence. Who cannot be touched, cannot be touched. Can only be used online. Like the Forex market, this market is also a rickshaw market.
Forex Vs. None of the three features of the forex market that have been mentioned in comparing the cryptocurrency market exist in the cryptocurrency market. So what's in the cryptocurrency market? Before we start thinking about that, let's take a look at the features of the cryptocurrency market.
Forex is an investment earning way so the first condition for earning is that you have to invest. Then profit or loss by trading. That means you don't have to just invest and trade, you have to trade to see the face of profit. But you will get investment benefits in the cryptocurrency market. If you do not want to trade, there is a profit or loss. That means you can invest and hold in the cryptocurrency market. Which you will not find in the Forex market.
Even if you are not good at trading, there is no problem. You can buy and keep any cryptocurrency of your choice like Bitcoin, Etherium etc. You can easily make a profit by selling it again if the price goes up later. Which is not possible in Forex.
Those who are familiar with the stock market will be able to understand the matter very easily. Just as stocks are bought and held in the stock market to raise prices, so you can buy and hold coins in the cryptocurrency market to raise prices.
Since you do not trade in the Forex market, you have no chance of profit. As a result, there is a high probability that your account will be completely zero while trading in the Forex market. But in the cryptocurrency market, if you do not want to trade on any cryptocurrency exchange site, there is still no problem. Because there is a full possibility of making a profit by holding only through investment without trading here. As a result, there is no fear of your account balance being zero. Yes, due to the reduction in the price, the price of the coin you are holding may go down, but the value of the coin will only go down. And since you are holding, when the price goes up again, its value will also go up and there is a possibility of making a profit.
Cryptocurrency is a platform where anyone can invest and make a profit, which is not possible in the forex market. Only those who are skilled traders can benefit in the forex market. And since there is an opportunity to profit only by investing and holding without trading in the cryptocurrency market, unskilled traders also have the opportunity to benefit in this market.
Although I said that there is no chance of getting commission in the cryptocurrency market, it may not be completely correct. Yes, that's right you can now become known as a Lord of the Rings. However, there are opportunities to get commission by holding some coins. So cryptocurrency commissions are much safer and easier than forex commissions. Because only if you trade in Forex will you get commission, or not. As a result, you can also lose in your trade due to trading for commission. The result is a loss of 5 rupees to earn a commission of 50 paise.
But without any loss, there is a chance to get commission in the cryptocurrency market just by holding your invested token or coin. Such as: - NEO, NPXS etc. Commission is available by holding coins.
What has been discussed so far has been Forex Vs. Cryptocurrency means comparing features between the two. But there is a very important similarity between these two markets. And that is that high volatility exists in both markets. As a result, traders are in grave danger. The more volatility there is in the market, the more rickshaws there are. So the forex and cryptocurrency market is a rickshaw market.
Forex and cryptocurrency markets are much more risky to trade due to high volatility. So no one in this post is being encouraged to trade in this market. If anyone wants to trade, they will do so at their own risk, without the authority of this blog.
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