At the request of OD Sensei
Remember that spot trading is the purchase and sale of cryptocurrency at the current market price with immediate delivery.
This is the easiest way to trade.
Selecting a trading pair
The spot market trades pairs such as:
📌 BTC/USDT — buy or sell Bitcoin for the stablecoin USDT.
Example (price is current at the time of writing)
Current price of BTC: 97,844 USDT.
Types of orders
📌Market order:
You buy or sell at the current market price. The transaction occurs instantly.
📌Limit order:
You set your price, and the transaction is executed only when the market reaches that price.
❗️❗️❗️❗️Suppose:
You want to buy BTC, it currently costs $97,844.
You set a limit order at $95,000.
The transaction will only occur when the price drops to $95,000
Buy/Sell
💡Example of purchase:
Choose the pair BTC/USDT or ETH/USDT (any other)
2. Click "Buy".
3. Choose the order type:
📌Market: Enter the amount in USDT. For example, 100$. The exchange will automatically buy cryptocurrency for that amount.
📌 Limit: Set the price. For example, for BTC $95,000. Wait for the market to reach the specified price.
📌Confirm the transaction.
💡Example of a sale
📌 Choose the same pair (for example, BTC/USDT).
📌Click "Sell".
📌Specify the amount of BTC or the sum in USDT.
📌Confirm the transaction.
Stop-loss, how to use it. (question from another user)
Stop-loss is a protective order that limits losses if the price goes against you.
Example: how to set a stop-loss
📌You bought 1 BTC at $97,844.
📌 To limit losses if the price starts to fall, set a stop-loss at $95,000
📌If the price drops to 95,000 USDT, the exchange will automatically sell BTC.
❗️❗️❗️It's important to remember, a stop-loss protects your money from significant losses, especially during high volatility.
❗️How to lock in profit (take-profit)?
📌Take-profit is an order that closes the trade when the price reaches your target.
Example:
📌 You bought 1 BTC at $97,844.
📌 You expect the price to rise to $105,000.
📌Set the take-profit at $105,000.
📌 As soon as the price reaches $105,000, BTC will automatically be sold, and you will lock in profit.
💡Risk management 💡
📌Never risk more than 1-2% of your capital in a single trade.
📌Use stop-losses and take-profits.
📌Divide the deposit into different assets.
Spot trading is a simple and straightforward way to work with cryptocurrency. All you need to do is choose a pair, manage risks properly, and set orders.
Good trades! If you have questions, write.
