Why I switched to crypto after 10 years on Forex

[WalletInvestor]

No wonder required.

Simply apply the 'acid' tests:

Ignoring all other aspects of a particular coin, ask;

What goods and services can be bought directly with the coins ?
How widely accepted are they?
How many wallets have been created for these coins?
How quickly do transactions get confirmed by the network?
Does the value of the coins fluctuate wildly by the hour?

The answers to these few simple questions will tell you if a currency is worth bothering with.

Thanks for the list, I appreciate it

 

[Pat494]

I read a report that PayPal are going to include a section where crypto can be bought and sold.
This will put their coins offered on the mainstream map and easily available to all. These coin prices should rocket northwards.

 

[MasterOfCoin]

I read a report that PayPal are going to include a section where crypto can be bought and sold.
This will put their coins offered on the mainstream map and easily available to all. These coin prices should rocket northwards.

You read correctly.

See my post here: https://www.trade2win.com/threads/cryptocurrencies-being-embraced-by-paypal.238721/
for a little more detail on PayPal's plans.

And yes, coin prices went up ^

 

[Henow1969]

I am in both crypto and Forex but a lot of risks is involved in both fields but also very gain too.

 

[sharabela]

You are right on the note that Crypto trading offers some advantages than currency trading. However, Forex traders may find a bit difference in crypto trading as far as their currency strategies are concerned. Some of my Forex day trading strategies do not seem to work at all with crypto market. Nevertheless, overall crypto trading is good.

 

[DT5]

I think I'd have done both myself...

 

[HeavLeighGill]

You raised some good points, I definitely think that the popularity of cryptocurrency is only going to increase as we move toward the future. Personally, I still think that Forex trading is a lucrative investment and I dabble in both. It’s true that brokers can charge a lot but if you open an account through a brokerage that offers more competitive fees then it’s still possible to pocket a good profit.

 

[Leon212]

I agree I prefer Crypto trading to Forex

 

[hatemypips]

Crypto is easier to trade especially when there is high volatility like today. Easy gain are available that's why it is extremely attractive even newbie investors can make money in this crazy market with little skill

 

[colinlewis]

Do you find it is generally easier to spot trends on crypto ?

surely not.

 

[hatemypips]

@hatemypips I differ on that, crypto trading is not a walk in the park, rather it require a lot of knowledge and market research. Gains in crypto are hard to come by. And when the market crashes, holding a coin which has lost 50-60% of its gained value, becomes unbearable

Support and resistance work perfectly according to my experience as there are barriers for institutional investors which would make it much more efficient market

 

[Stonksalltheway]

Thanks for sharing this, OP.

I'm a big fan of crypto but at the same time, been a long stock trader myself. One stock that I've been following is $BTCS since they are running a bunch of Ethereum 2.0 validator nodes, which is something that people has been waiting for.

 

[sebking1986]

Certainly made for an interesting read. I am focussing on forex for now but would be interested to look at crypto and BTC in particular.

 

[Spread-Bettor]

A few points.
1. Doesn't matter what currency it is, there's always inflation.
2. Crypto is the latest scam with many unscrupulous brokers.
3. Crypto volatility is insane.

 

[no_frame]

Well i am still into forex, but you never know what happens in the future, might or might not be interested in cryptos.