In the context of crypto markets, spot trading refers to the direct purchase of cryptocurrencies where transactions are settled immediately without leverage. Keep reading to learn how you can start spot trading on Binance.
Follow these steps to access the Binance spot interface.
1. Log in to your Binance account and navigate to [Trade] → [Spot]. You will be redirected to the Binance trading interface.
2. On the left side, the order book displays sell orders (asks) in red and buy orders (bids) in green.
3. The trading chart at the center is an interactive chart of the selected trading pair, such as BTC/USDT.
4. The trading pair list on the right contains all available trading pairs on Binance, searchable by name.
6. Below the chart is where you create buy and sell orders. Make sure that your Spot Wallet is funded before placing orders.
Now, let’s take a look at how you can purchase BTC with USDT.
1. Choose an order type. A limit order lets you set a specific price, while a market order fulfills your order at the current available price.
2. Specify the price and amount you want to buy, then click [Buy BTC].
3. A notification will appear on the top right of your screen. You can also track your open orders at the bottom of the trading interface.
4. If BTC reaches your set price, your order will be filled.
Finally, let’s take a look at how you can sell BTC for USDT.
1. Choose an order type and set the amount you want to sell. Click [Sell BTC].
2. The order is either filled immediately if you chose the market order or may take some time in case of a limit order.
Learn more: Your Guide to Binance Spot Trading.