Forex cryptocurrency: How to choose what to trade | The Guardian Nigeria News - Nigeria and World News

In this file photo taken on September 24, 2020, shows a physical imitation of a Bitcoin at a cryptocurrency “Bitcoin Change” shop, near Grand Bazaar, in Istanbul.

Firstly, he says that it is important to know the differences between the two as they are vast and can be compared to the proverbial apples and oranges. “Crypto currency trading is trading digital or virtual currencies that are secured by cryptography, the most famous example being Bitcoin. Trading takes place on relatively new decentralised platforms using blockchain technology, a system which makes it almost impossible to change, hack or cheat.

“The foreign exchange market allows private individuals, large institutions, governments, retail traders and more to participate,” he says. “Essentially trading Forex is less risky, more protected, regulated and stable. It enables investors to react to market movements, and is influenced by political or economic factors which prompt investors to enter or exit the market accordingly.”

Mawas explains that for those that wish to start trading Forex there are tried and tested strategies that beginner traders can consider. “A viable way to learn and kickstart 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 the driving seat with the latest news, community trending topics, top trades of the day and the latest prices all in one place.

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