Quote from: Fiatless on August 24, 2024, 06:18:38 PM

Quote from: Adiepretty on August 24, 2024, 05:27:58 PM

I would like to know anybody's opinions about this.

The crypto industry is more volatile than the forex market. So it can give more profit than forex within a short period. But it is also more riskier that a trader can lose money faster.

The forex market is highly regulated and established. So you can easily carry out trade safely in established platforms. The crypto industry is more complicated, and you need to do more research to verify the coins or tokens you want to deal with.

You can put in a small amount in crypto trading and end up making a big profit if you are lucky. A forex trader might require more funds to make a high profit.

Scammers are present in both businesses but I suspect that there are more in the crypto space.

Yea, I totally agree with you here on this, the forex market is very much stable in trading than the crypto market, because the volatility attach to cryptocurrency is very much unpredictable compared to forex, and one key disadvantage of trading cryptocurrency is that the price of Bitcoin controls almost all other coins, so you might sees a particular set-up that you are quite positive that will go a certain direction, and you decide to take the trade, once Bitcoin goes the opposite direction, that set up will fail, because the crypto asset you are trading will later reverse and go in line with the direction of Bitcoin, but in forex trading, that kind of disappointment is really rare.
Lastly, in crypto trading, their is too much uncertainty concerning the asset you are trading, such as volatility, you can make a whole lot of money very fast, and you can also lose a whole lot of money very fast, unlike the forex that is very much stable and easy to navigate your way around it more than cryptos.