⚠️As a new crypto trader, here are key things to know about spot trading:$BNB $SOL $BTC 🫷🫷🫷

1. _Definition_: Spot trading involves buying or selling cryptocurrencies at the current market price for immediate delivery.

2. _Trading pairs_: Understand the available trading pairs (e.g., BTC/USDT, ETH/BTC) and choose the ones that interest you.

3. _Order types_: Familiarize yourself with different order types:

- Market order

- Limit order

- Stop-loss order

- Take-profit order

4. _Liquidity_: Understand how liquidity affects prices and trading.

5. _Volatility_: Be prepared for price fluctuations and manage risk accordingly.

6. _Fees_: Know the trading fees associated with your exchange and account type.

7. _Slippage_: Be aware of potential slippage (price difference) when executing large orders.

8. _Risk management_: Set clear goals, use stop-loss orders, and don't over-leverage.

9. _Market analysis_: Stay informed about market trends, news, and technical analysis.

10. _Exchange selection_: Choose a reputable exchange with suitable features and fees.

11. _Wallet management_: Securely store your cryptocurrencies in a wallet.

12. _Tax implications_: Understand the tax laws and regulations in your jurisdiction.

Remember, spot trading involves risks, and it's essential to educate yourself and start with small investments.