Family Lifers Forums

Create forums and topics you and your friends can discuss. You can see your friends activities, views and responses on all topics!

Home Forums Business Matters Which One Should You Trade right now, Forex Or Cryptocurrency?

3 voices
3 replies
  • Creator
  • #13905

    Which One should You Trade right now, Forex Or Cryptocurrency?


    Between Forex and Cryptocurrency, which one will you like to trade?

    Cryptocurrency has become increasingly popular among Africans. Analysts attribute this to the continent’s tech-savvy population, which has quickly embraced mobile digital payments. In the same vein, Forex trading has grown in popularity, with an estimated 1.3 million traders in Africa.

    Given the rate of growth, it is not surprising that many potential traders want to get started started. However, the majority of them are unsure which currency to use.  To help such people decide, Experts say it’s important to start by doing one’s careful analysis first. Conducting a careful analysis will also help you to understand the differences that abound.

    Cryptocurrency trading is the exchange of digital or virtual currencies protected by cryptography, the most well-known example being Bitcoin. Trading occurs on relatively new decentralized platforms that use blockchain technology, a system that makes it nearly impossible to change, hack, or cheat.

    Forex is foreign exchange, or FX, and it occurs in the world’s largest, most liquid, and well-established markets. Every day, up to $6.6 trillion in volume is exchange using 150 government-backed national currencies.

    Still, on the differences between Forex and Cryptocurrency, forex market makes room for private individuals, large institutions, governments, retail traders and more to participate. Also, trading Forex is less risky, more protected, better regulated and stable.

    Forex allows investors to react to market movements because it is influenced by political or economic factors, causing investors to enter or exit the market accordingly. Cryptocurrency, on the other hand, is a different story.

    Trading cryptocurrency can be riskier due to a lack of information and case studies to predict performance. There are less established markets, and while there may be a promise of higher returns, there is no guarantee of profit, but it is a long-term option for potential profit.

    For those that wish to start trading Forex, there are some tried and tested strategies to consider. It is a viable way to learn and kick start your trading journey is via online community apps, such as IX Social, where traders can share knowledge, trades and experiences with like-minded traders.

    Users are put in control by having access to the most recent news, community trending topics, top trades of the day, and the most recent prices all in one place. Its user-friendly functionality, combined with an auto-copy feature that allows traders to automatically copy the top traders in order to achieve the same results, makes it the ideal platform for beginner traders to learn and grow.

    Now, whatever currency you choose to trade in, it is best not to let your emotions take over. This is due to the fact that trading on an emotional impulse frequently results in traders buying and selling at inopportune times.” While trading has many advantages, it is critical for traders to stick to a strategy and start small. This will ensure their success and longevity in the game.

    Read Also: Online Jobs You Can Do With Your Phone, Laptop And Internet To Earn Money

  • Author
    • #20799

      Both forex and crypto are good trading investment. For me, I prefer crypto.

    • #20809

      I don’t know much about e-currency trading. I am particularly interested to learn how to invest in crypto. It’s a good investment that can make someone rich without too much sweat.

    • #20821

      Since the the price of bitcoin has gone up again, I will trade more on crytocurrency.

Topic tags

You must be logged in to reply to this topic.


Invite your friends to Familylifers



  1. # 1Profile Photo
    Family Lifers
    15114 Points
  2. # 2Profile Photo
    3004 Points
  3. # 3Profile Photo
    2672 Points
  4. # 4Profile Photo
    2297 Points
  5. # 5Profile Photo
    John Adeleke
    2182 Points


  • Profile picture of Oluwaseyi
    registered 1 month, 3 weeks ago
  • Profile picture of commdevices
    registered 4 months, 2 weeks ago
  • Profile picture of Nneoma
    registered 4 months, 3 weeks ago
  • Profile picture of Kalu
    registered 9 months, 1 week ago
  • Profile picture of Isah
    registered 9 months, 2 weeks ago

Become a member of

Enjoy these benefits!

  • Connect your friends
  • Solve Marriage and Relationship Problems
  • Showcase your skills and products in our MARKET PLACE for FREE
  • Drop your CV, get a job And lots more

New Report