Speculation is generally that individual investors participate in speculative transactions, and some enterprises and institutions also participate. Insurance exchange regulations can only be enterprises and institutions; Hedging is generally aimed at individual investors or enterprises.

2. The purpose of participation is different. Speculation is to earn the difference profit, profit in a short time and even violence; In order to avoid the price risk faced by enterprises, insurance will formulate trading strategies according to the industry and operating conditions; Hedging means that one investment deliberately reduces the risk of another investment.

3. The trading basis is different. Speculation focuses on price deviation and irrationality; The basis of insurance is the combination of the overall industry trend and its own business strategy; Hedging means shorting (or shorting) when you are bullish on a certain currency and bearish on a certain currency.