Kick-start Spot Trading
Last updated
Last updated
Spot tradings are transactions between buyers and sellers of cryptocurrencies at a consistent price. Most of the cryptocurrency asset transactions are usually priced using the stablecoin Tether (USDT) as the price unit, and most trading pairs are also exchanged with USDT, such as BTC/USDT and ETH/USDT. Usually, we use USDT to buy BTC or use BTC to trade to USDT, which does not involve any futures or leverage. More importantly, it is delivered on the spot, so it is called spot trading.
Spot trading has its advantages of convenience, speeding, and lower cost. Instead of using fiat to exchange for cryptocurrencies, you only need to hold cryptocurrencies to exchange the crypto assets you want to hold.
For example, if you hold Bitcoin and want to buy Ethereum, you only need to exchange it through the spot trading pair of BTC/ETH, and you only need to pay the fee once.
In addition, spot trading also has favorable characteristics of stronger anonymity and the convenience of encrypted asset conversion.
(1). Market PriceTrading volume of trading pair in 24 hours
(2). Asks (Sell orders) book
(3). Bids (Buy orders) book
(4). Candlestick chart and Technical Indicators
Limit is an order type that allows you to buy or sell crypto for a specific price.
(5). Buy Cryptocurrency
(6). Sell Cryptocurrency
(7). Market and Trading pairs.
(8). Market latest completed transaction
(9). Your Open Orders / Order History
If the market price of BTC/USDT is at 26,961, but you want to buy 0.000185 BTC at a specific price, for example, 26,000 you can place a [Limit] order.
Once the market price reaches your set price, your placed order will be executed. And you will find 0.000185 BTC (commission excluded) in your spot account.
Entering the selling quantity 0.000197 to complete the transaction instantly.
If the market price of BTC is 26,169 USDT, you will find 5,15 USDT (commission excluded) in your Spot account.
You can try to trade with USDT in the FinanceX spot market, and successfully purchase your first crypto asset other than USDT.
Disclaimer: Trading crypto involves significant risk and can result in the loss of your invested capital. The materials are not related to the provision of advice regarding investment, tax, legal, financial, accounting, consulting, or any other related services and are not recommendations to buy, sell, or hold any asset. FinanceX Learn solely provides information, but not financial advice. You should ensure that you fully understand the risks involved before investing.
