Spot trading is trading executed in a “spot market.”
Investopedia: “A spot market is a commodities or securities market in which goods are sold for cash and delivered immediately.”
In spot market, you can buy and sell crypto using different types of orders that QUOINE supports. If you want to buy and sell immediately, you can execute a market order.
A market order is a buy or sell order to be executed immediately at current market prices. As long as there are willing sellers and buyers, market orders will be filled. Market orders are therefore used when certainty of execution is a priority over price of execution. This is the simplest order type, and does not allow any control over the price received. The order is filled at the best price available at the relevant time. In fast-moving markets, the price paid or received may be quite different from the last price quoted before the order was entered.
- In Spot Trading dashboard, panel 2 (Order panel), click Market.
- Enter the quantity of cryptocurrency that you want to buy/sell (spot trading) or trade (margin trading).
- Click Buy or Sell to place the order.
After step 3, your order will be executed/filled immediately.