What is Spot trading
The "spot" refers to the cryptocurrency owned by the trader, and spot trading means that the trader exchanges a certain amount of cryptocurrency with other traders for another cryptocurrency, so it is also called "currency exchange". . Traders on the platform must first deposit money on the platform before they can conduct spot transactions.
The difference between Spot trading and Convert
The interface and order placement method of Spot is similar to that of contracts, and users bid for currency in the spot trading market all the time. The platform will also provide the currency's rise and fall charts, limit market price trading, and pending order functions.
Convert is a more intuitive and fast way to exchange cryptocurrencies without looking at the market. After the trader enters the currency and quantity and presses the trial calculation, as long as the trader accepts the trial exchange rate and there is a corresponding amount in the flash exchange market, the exchange can be successful.
The nouns are different, but both are also doing spot trading.
Differences between Spot trading and Contract trading
Cryptocurrency contracts are contracts that represent the value of a specific cryptocurrency. When a user buys a contract in the contract market, the user does not own the underlying cryptocurrency.
In the spot market, users buy and sell cryptocurrencies with instant delivery. In other words, cryptocurrencies are transferred directly between buyers and sellers in the market, so in the spot market, users need to own cryptocurrency before they can trade.
How to trade spot onFTK？
- Log inFTK, and click the "Spot" menu to enter the spot market.
- Trading interface display
- Trading volume of trading pair in 24 hours
- Candlestick chart and Trading volume
- Sell order book
- Buy order book
- Latest completed transaction
- Type of order: Limit/Market
- Amount of my available coins/Transfers: transfers for coins of different wallets
- Buy Cryptocurrency
- Sell Cryptocurrency
- Open orders/24hr Oder History/Trade History/Asset Management
- Chatroom：Communicate with other market players
- Customer service
Instructions for Order
Click on the Trade option, refer to the price in the buying and selling area on the left, enter the appropriate purchase price, enter the amount of USDT you want to spend, and click Buy to complete the purchase. (Same for sell order)
- The default order type is a limit order. If traders want to place an order as soon as possible, they may switch to [Market] Order. By choosing a market order, users can trade instantly at the current market price , at this time, the cost of USDT for your order will be calculated based on the actual transaction market price.
- If the market price of BTC/USDT is at 40,000, but you want to buy at a specific price, you can place a [Limit] order. When the market price reaches your set price, your placed order will be executed.
- The Percentage shown below the quantity refers to what percentage of your total USDT assets available to you to buy BTC.