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Comparing Cryptocurrencies With Forex

Comparing Cryptocurrencies With Forex

Within the past few years, cryptocurrencies have held a tight grip on the general public’s curiosity. In 2021, the cryptocurrency Bitcoin finally breached a market cap of 1 trillion USD (9.24 billion CHF) thanks to positive public sentiment. Support from big-name companies, such as Tesla, Apple, and Uber helped to place cryptocurrencies on the path of mainstream adoption.

The popularity of cryptocurrencies has left investors everywhere wondering how digital assets stand against traditional investment techniques. In particular, the foreign exchange (forex) market, which facilitates trade between international currencies, sees many comparisons with the cryptocurrency trade. One represents the traditional financial system that relies on banks and governments, while the other represents the potential future of the financial system, in which trust is decentralised. Below, we’ll discuss the main differences between trading crypto and forex.

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