Forex Is Forex Trading Like Crypto Trading?

[Sikapa]

Hi family I just have this question to ask and is all about this crytocurrency trading and that of forex trading. I have heard many people talking about this forex trading but I don't really know this work. I have try to understand what forex trading is but I think here is the best platform to get the best answer.

What is the difference between forex trading and that of crytocurrency trading? Thus they have something to do in common or they are all different things all together? I wish to get answer from here and know the difference between the two. Than you for your opinions.

 

[btaliat]

Forex and crypto are both trading. They share most together than what distinguish them. In fact, almost all the terms and terminologies of forex and also used in crypto. What now makes different between the two?



Forex trading is a shortened form form foreign exchange trade. This means, it is a market for almost all the countries if not all the countries. They trade in currencirs and other assets. It is a way too legal because it is the largest market in the world which means all countries of the world support it and even have an agency for it. On the other hand, crypto is a digital marketing which trades in coins based on Blockchain. No one knew anything about crypto until around 2009 when it was introduced into the lexicon. Unlike forex, it is not legal, it is either regulated, banned or monitored in the country.



In a nutshell, the two major difference between forex and crypto are that one is legal while the other do not enjiy world wide legality and also one deals with currencies and assets while the other deal with coins.





Asdie these main differences, there are many things that do bind both crypto and forex trading together.