What Is Cryptopadie Spot Trading?
Cryptopadie spot trading refers to the immediate buying or selling of a cryptocurrency (such as Bitcoin, Ethereum, or Litecoin). In this type of transaction:
- The transfer of coins is immediate.
- Market participants (buyers and sellers) own the coins directly.
- The exchange occurs on the spot market, which operates 24/7.
- There is no broker involved in spot market transactions.
For instance, if you want to buy Ethereum (ETH) with USDT, follow these steps:
- Look for the ETH/USDT pair on your exchange platform
- Place a buy order at your preferred price and quantity of ETH.
- Upon execution, your ETH coins will be stored in your spot wallet.
- You can hold ETH until its value increases and then convert it back to USDT or purchase other cryptocurrencies.