Dubai, UAE, 7th April 2023, ZEXPRWIRE, Spot trading is between two different cryptocurrencies, using one of the currencies to purchase other currencies. The trading rules are to match transactions in the order of price priority and time priority, and directly realize the exchange between two crypto-currencies. For example, BTC/USDT refers to the exchange between USDT and BTC.
Spot trading includes limit order and market order:
Limit Order: Users set the buying or selling price by themselves. The order will only be executed when the market price reaches the set price. If the market price does not reach the set price, the limit order will continue to wait for the transaction in the order book;
Market Order: Market order refers to the transaction without setting the buying price or selling price. The system will complete the transaction according to the latest market price when placing the order, and the user only needs to input the quantity to be placed.
The difference between contract trading and spot trading
Contracts are bought and sold to represent the value of a specific crypto asset. The trader does not own the underlying crypto asset in either a long or short position. Therefore, the trader holding the contract does not have the right to vote or participate in a staking.
While a general spot trading is one in which delivery is made instantly during the buying and selling process. Take BTC-USDT trading pair as an example. During the trading process, the trader sells 100USDT to get the equivalent value of BTC. After the transaction is completed, the trader no longer holds the sold USDT, but the equivalent value of BTC is worth 100USDT. The trader has direct ownership of that part of BTC and enjoys the right to participate in community voting.
Spot Trading at Bitunix
Bitunix offers spot trading for all crypto traders. Users can easily spot transactions through the Bitunix website (Bitunix.com) or the mobile app. Currently, Bitunix offers more than 160 trading pairs at industry-low fees, providing ample liquidity and high-speed aggregation to easily meet the trading needs of different traders.
For additional information and business inquiries, please contact: https://bitunix.com
Disclaimer: The views, suggestions, and opinions expressed here are the sole responsibility of the experts. No Ireland Daily News journalist was involved in the writing and production of this article.