Is it a cryptocurrency or forex?

Hi everybody I notice BTC/USD (bitcoin vs USD) over the weekend it is still active and tradable. How is it so? Is this pair under forex or cryptocurrency? And what other markets move during the weekend?

I’m interested in this as well but I don’t possess much knowledge… Haven’t traded BTC/USD yet. I don’t even know if a broker allows you to trade it on the weekends, however, crypto exchanges do, such as Binance.

I’d consider that to be under crypto as I see it more as fiat to crypto, crypto to fiat. :slight_smile: I’ve only gone through GDAX for this one though and like what @Mordengaard said, you can also trade it on the weekends.

I know just 1 forex broker to trade btcusd , ltcusd, ethusd and others minors cryptopairs during weekend. Evolve Markets:
Your accounts are based in BTC and the payment options are LTC and BTC. They offer you MT4 and MT5 and a leverage for cryptos up 50. It isn´t a regulated broker. (just a register in Saint Vincent & Grenadines.)
They accept usa traders.

Hi three. Bitcoin is a cryptocurrency, it’s a cryptocurrency operation. But majoriy of brokers that trade cryptos trade it like CFD that is some type of contracts that i don’t understand so much. Because of that i only trade cryptos at exchanges when I really posses the coin, like Binance or Bitifinex. Cryptos are 24/7 a week. And I don’t know best hours trade like Forex have.
Cryptos are a good market to people that don’t have a good amount of money to iniate at forex. Because of it high volatily, you could made good profit without leverage. But Cryptos market are ver dangerous marke because of hacks, scammers and crazy movements. I would like to know more of it too.

It’s is a forex. As same as other pairs, such as EUR/USD, USD/JPY, etc. The real crypto trade is you can buy btc and own it on your wallet.

Hi, Tato. When you trade with an Exchange like Bitfinex you are buying or selling the real crypto. When you trade with a forex broker you are buying or selling the sentiment about that crypto (CFD). In the first case you open and close position without leverage. In the second case you work with leverage.

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However, I don’t know much about crypto currencies. As there is much risk attached to the investment in crypto currencies I prefer forex trading. I think it will be considered as a crypto currency exchange as you are about to exchange BTC for USD.

I believe this would be seen as a CFD crypto, treat it as you would trade any other instrument on Forex. Because physically buying a Crypto coin is different to opening a buy/sell CFD position on BTC/any other currency

Basically you’ve got 2 types of crypto trading.

  1. CFD - trade crypto CFDs with brokers that are regulated, you can trade them in both directions and use leverage. As far as I know these operate only during trading hours and swaps/rollovers apply.
  2. Using exchanges - you buy the actual cryptocurrency, no leverage available. If you want to profit only one way trading is possible (i.e. Buy low - sell high). The plus side is that there are no swap and rollovers attached and you can hold (HODL) them for as long as you see fit. However, due to the lack of regulation the risks are high. But you can trade them 24/7 as the exchanges never close.
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I think it is a forex trade because there is a pair combination. But i don’t think you can trade forex on the weekends. What do you guys think about it? I am on the forex side. Where did you see the thread regarding the trading?

I have years of experience as an analyst and sure its forex

There is some confusion among traders regarding the exact nature of BTC/USD since BTC is a crypto and available for trading 247 while USD is a fiat currency. Most brokers that offer BTC/USD for trading offer it through CFDs. Since cryptocurrency markets remain active through weekends also some brokers like IG, AvaTrade, etc offer weekend BTC/USD trading. With exchanges like Poloniex, Kraken, etc they’re open 247 so you can trade cryptos directly any time, any day of the week. As regards your last question, the Dubai financial market is open on Sunday even and the Tehran Stock Exchange remains active Saturday through Wednesday.