Leo; you are doing outstanding job (posting of crypto) by adding valuable words! But I see; mostly Forex traders aren’t interested on crypto; as I think; it’s really unfortunate!
Forex traders usually don't like crypto, because there is almost no leverage in crypto as compared to forex. But forex traders don't have any choice, because as I predicted before few years forex trading will be dead within few years since there will be no liquidity in the market when all fiat currencies will be dead and banks will be dead.
Because all money from forex will switch to crypto market. Since it is the banks who provide liquidity to the forex market and when there will be very few users for the banks, then liquidity will naturally dry out.
One of the early signs are like ESMA rules for europian forex brokers for leverage reduction and next coming behind ASIC brokers now and people discuss that forex brokers will be dead, but it is not true entirely. Rather forex trading will be dead and those brokers who will switch to crypto trading will survive and others will die.
Finally, it doesn't matter whether someone is a forex trader or not, because for day to day expenditures people have to use crypto since there will be hardly any companies accepting fiat money after few years. Those companies accepting fiat will have much higher fees compared to crypto and hence, people will naturally switch to crypto.
Also, now even while sufficient liquidity is there in the forex market more than 90% of retail traders loose money and when there will be no liquidity in the forex market, then 99% of traders will loose money except those big hedge funds using highly sophisticated algos for trading.
So Forex trading and traders really don't matter for crypto anymore since forex trading will be dead within a matter of couple of years. The quicker forex trader will switch to crypto, it is better for them. Because at least in crypto you can't loose more money since there is no big leverage available, but still you can loose in crypto as well. So I don't recommend crypto margin trading as well and I recommend only crypto holding and crypto usage.
You honestly think that within a 'few years' all fiat currency and banks will be dead. That seems very unlikely to me
Please don't go by my words and think for yourself.
If you want to transfer money whether few thousand dollars or millions dollars from your country to other country for whatever reason which one will you prefer out of the 2 options below?
1.You will go to the bank, probably fill some forms and do the currency conversion and pay the conversion fees from your currency to the destination country currency and transfer the money. Not only that every country has certain limits on how much money you can transfer from one country to another country. I know online wire transfers are possible in many countries in many banks, but still there are yearly transaction limits and conversion fees are involved.
2.You will just ask the receiver his crypto wallet address and directly send the money from your mobile wallet to his mobile wallet almost no fees just like you send a picture or video or email to someone. You can do this unlimited without any upper transaction limits or any permissions from your country government. This is one of the aims of the facebook coin 'Libra' launching next year.
So 99% of the case people will choose the second option especially large corporations when there is a huge currency conversion fees are involved in each money transfer. Now banks will get no liquidity which now they are getting due to currency conversion. So how banks will survive and how forex brokers will survive if no one will do the currency conversion?
So when I say banks and forex trading will be dead, please don't take it literally. Yes, there might be banks and forex brokers there, but the usage will be minimal or negligible so much.
The phenomena is equivalent or analogous to usage of mobile phone verses land phone. Land phones are not dead yet and used in offices, but compared to the individual use case of mobile phones we hardly even notice the land phones these days and similarl situation will happen to fiat currencies. Fiat currencies might be used just for paying government salary etc after few years.
Artificial General Intelligence