I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.
Their common thing is leverages but Bitcoin is one of things you can trade on Forex. Forex market has longer history than Bitcoin market and has bigger trading volume too. You can trade Bitcoin on Forex like gold, silver, rice, sugar and and more.
You can trade Bitcoin with leverages in Margin or Futures trading directly in Bitcoin market, on Bitcoin exchanges. If you use leverages in either Forex or Bitcoin market, you will have same risk, risk of forced liquidation on your position and collateral.
Advice from me: Don't trade your bitcoin anywhere, especially with leverages. Trading like this, will cost you your bitcoin. I mean you will probably lose your bitcoin in trading. Rather than trading, holding your bitcoin as investment, and wait for 1, 2 or 3 cycles or even more cycles, to take profit and get better financial life.