The KoinBay
KoinBay is a leading crypto platform that offers diverse trading options for both seasoned and novice users. Whether you’re looking for immediate digital asset acquisition or leveraging advanced crypto trading strategies, KoinBay caters to your needs with a user-friendly interface and competitive transaction fees. Spot Trading On the KoinBay Crypto Platform
Buyers: Placing bids at desired purchase prices.
Order Book: A digital record of all outstanding buy and sell orders, constantly updated with the latest bids and asks.Bid Price: The highest price a buyer is willing to pay for a specific cryptocurrency.
Ask Price: The lowest price a seller is willing to accept for their crypto holding.
Spot trading involves understanding concepts like the current spot price, the trade date (when the trade is executed), and the settlement date (when the assets are transferred). Your spot account balance is easily accessible under the “Balances” section on the KoinBay homepage.
Limit Order: The default option allows you to set a specific price for buying or selling, ensuring your trade is executed only at that price point or better.
Market Order: Ideal for quick execution, market orders instantly trade your crypto at the current market price.Margin TradingFor experienced traders seeking amplified drawings, KoinBay offers margin trading. This involves borrowing funds from the exchange to increase your trading capital and potentially magnify your gains. However, it also amplifies potential losses, so tread cautiously Before venturing into margin trading, ensure you’ve completed your KYC process and enabled 2FA for enhanced security.Once approved, transfer funds from your exchange wallet to your margin wallet as collateral. Leverage is set at a fixed 5:1 ratio, meaning you can borrow up to five times your collateral