Why NFT Traders are Moving to the Forex Market
The Forex market and the NFT market are both decentralized global markets that anyone can participate in via the internet—but this is where the similarities end. The Forex market requires an entirely different set of skills than the NFT market, yet, NFT Traders are moving to Forex trading day by day. Let’s explore why.
Why Forex Market is a Better Investment
Even though the first non-fungible token ever was minted in 2014, NFTs really entered the public eye in 2017 when CryptoKitties (an online game at the time) started selling cat NFTs. Since then, the popularity of NFTs has skyrocketed to the point that they’re being sold in art auctions and being bought by some of the most recognizable celebrities such Justin Bieber, Lionel Messi, Jimmy Fallon, and Snoop Dogg.
But now it’s being speculated that this might only be a bubble, that people will soon lose interest in buying NFTs, and the Crypto market will crash. Even if the market continues to grow, there is one elephant in the Crypto room no one would talk about: the Crypto market doesn’t contribute to the economy.
This means that the profits made by one person in the crypto market always come out of someone else’s pocket. Investing in the NFT market is no better than gambling.
How to Succeed in the Forex Market
If you’re already in the NFT market struggling to make profits or even to sell your assets at rates you’re bought them, or if you’re thinking of joining the NFT market, I would suggest entering the Forex market instead. The Forex market plays a vital role in the economy, which makes Forex much less volatile than the NFT market. Also, for the same reason, the Forex market is positive-sum—unlike in the NFT market or in gambling, you’re more likely to make profits than to lose money.
As a beginner, it can prove quite challenging to figure out what currencies to invest in. To avoid risking losing your money, it’s best to follow other experienced Forex traders till you figure out how to predict the market yourself.
It can take some time to learn how the Forex market works, but it’s entirely possible. The 18-year-old Forex millionaire Devin Sranis a perfect exemplary of what success in Forex can look like. He has been trading in the Forex market since he was 13 and now is a renowned personality in the Forex community with a follower base of 387k on his Instagram(@devinsran).
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