CUrrency is a form of currency made by the government of a country and circulating in its economy, used as a means of exchanging goods and services, as well as making the basis of trade. In the world of forex, there are a number of currencies that must be known because these currencies are widely traded and become the favorite choice of traders. Because of its popularity, some currencies have their own nicknames. The country of origin is often referred to as a "major country" because its currency belongs to the "Major Currency" category.

The exchange rate of a currency can be fixed, floating, or semi-floating. Fixed means that the exchange rate of one currency is associated with another currency in a fixed amount. Floating means the free exchange rate is determined by the forex market movements, although at any time it can intervene to influence it. And semi-floating is when a currency is released into the market, but the central bank determines that the exchange rate should only move within a certain range.

In modern times like this there are also currencies that are not issued by the government of a particular country, but can be traded too because there are quite a lot of users. This kind of currency is called Cryptocurrency. Currently popular cryptocurrencies include Bitcoin, Litecoin, and Dogecoin. Cryptocurrencies are usually used in transactions to buy or pay for goods and services online via e-wallet, but the exchange rate is very unstable.

For beginners who are just learning forex, it is not recommended to trade Cryptocurrencies. It is better to focus on Major Currency, because it is easier to find and transact, while trading costs such as spreads and commission fees are also cheaper. Even professional traders usually only trade on Major Currency for the same reason.

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