Altcoins Talks - Cryptocurrency Forum
Crypto Discussion Forum => Cryptocurrency Trading => Topic started by: Angkoolart10 on July 02, 2018, 12:44:55 AM
-
Bitcoin vs Forex
There is no real difference between Bitcoin and forex trading. Like Forex, The price of Bitcoin is determined by supply-and-demand factors of the currency markets. With forex you can trade leveraged contracts increasing your potential of gain and risk utilizing margin trading ratios. Bitcoin can be margined, it is structured identical to stock market trading with the extreme price swings and volatility that come with currency speculation.
Bitcoin vs Gold
“Bitcoins” are a form of digital or virtual currency stored in an encrypted wallet which may be bought, held, sold or traded via peer-to-peer and/or established cryptocurrency exchange services. Bitcoin has a value which is determined by the normal supply-and-demand factors of the currency markets and represents a form of currency which is “decentralized” meaning it is outside the control of governments and central banks. The value is “directly” pegged to the US Dollar and can be converted to $USD just like $CAD, $EUR, $JPY or any other traditional fiat currency.
All alternative cryptocurrencies or “altcoins” are pegged directly to the value of Bitcoin making it the $USD of the cryptocurrency market. The underlying success of any cryptocurrency is determined by geographical and mainstream adoption combined with consumer confidence, merchant acceptance and real-world use thus creating a viable payment platform and true storage of wealth with trading market capabilities fueled by a thriving and innovative decentralized economy.
For more information check this link: https://www.newsbtc.com/2015/09/09/what-is-the-difference-between-bitcoin-forex-gold-a-tripod-theory-revised/
-
I don't know much about forex, so I can't compare bitcoin and forex. But I will give a little opinion about the comparison of gold and bitcoin. I think both have the same function. Gold and Bitcoin can be a good investment tool for the future. And both can also be made payments. But the difference between them is in value. The value of bitcoin is more volatile while gold is more stable. Besides that, bitcoin is easier to use to make payment transactions.
-
@cashbit, the perfect answer. Bitcoin is easier to use as payment because this bitcoin system is the same as fiat money that can be used to transfer. Whereas gold does not have that advantage. But I think, gold and bitcoin are investments that are just as good.
-
Forex is actually an investment that has the same concept as investing in bitcoin. But in my opinion, bitcoin can be a more appropriate choice. Bitcoin is not just an investment but we can use bitcoin technology to make transactions easier and cheaper.