Sunday, 8 July 2018

The Conflict Between Crypocurrency And Forex

There has been a lot of confusion among traders when it comes to Crypto Trading and Forex Trading as we have a global debate between Crypo Currency Traders and Foreign Currency Traders, this debate has introduced a lot of platforms for people to make money using the name "BITCOIN''  resulting in a lot of traders getting scammed.


Bitcoin is a crypocurrency [ Digital Currency/ Virtual currency ] which its value is traded as any currency pair that exist in the market, this Digital currency is not controlled by any government and no big organisation has it controlled and it transactions cannot be traced as users can make anonymous transactions.

The Demand for bitcoin has surged and many investors have made fortunes from Bitcoin making the demand of the currency very high.

Rapid Rise Pyramid Schemes 

There are true Bitcoin Investors and at the other hand we have a huge number of false bitcoin investors, this false investors use the Idea of the ever growing bitcoin value to run a number of pyramid schemes which has left a lot of people as victims.

Bitcoin Mining has been the word used to scam a lot of people into investing in pyramid schemes

Crypto Trading And Forex Trading Explained...

Crypto Trading and Forex Trading is mostly a similar type of trading as the Bitcoin(BTC), Ethereum(ETH), and other Crypo Currencies are trading in similar platforms and have the same technical structures as foreign currencies. The only difference is the Trading costs.

Bitcoin Trading

Bitcoin is only a Currency and can be trading in terms of ownership and also using a FSP registered bank or brokerage firm. Bitcon is Traded as a currency pair and returns will depend on the growth of the bitcoin value not through the schemes that are promoted online.

People have an idea of Bitcoin as a forever increasing currency as the value has surged at a very high rate in the previous years, this has caused most traders to lose money trying to buy a currency which has been growing in value, Trading a currency as Bitcoin and Ethereum will definitely require you to have some huge trading funds in the account as the currency is indeed growing at huge rate but expensive to trade.

Bitcoin is Difficult to Trade for traders with small accounts due to very high spreads caused by the the currency volatility which makes it difficult for traders with small accounts to make profit, and also making it difficult to hold positions.

Forex Trading

Forex Trading is the exchange of global currencies done in form of investments based on the currency exchange rate.

Forex has been as the fast way to get richer and yes a lot of people around the world have made fortunes trading the markets due to the low trading costs offered by Forex Brokerage Firms.

Conclusion
Trading is not very easy and we highly recommend that you get as much knowledge as possible to help you master the markets. trading without proper trading knowledge is risk on its own, Crypto or Forex will not be the reason why 90 percent of traders don't make it but it will be the knowledge. Digital currencies are real and fortunes are being made by a lot of investors.

Sifiso Nkwanyana

Author & Editor

I hope you have recieved all the information you seek and thank you once more for browsing our website we hope to hear from you soon.

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