• Jul 12, 2024

Cryptopadie Spot Trading

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:

  1. The transfer of coins is immediate.
  2. Market participants (buyers and sellers) own the coins directly.
  3. The exchange occurs on the spot market, which operates 24/7.
  4. There is no broker involved in spot market transactions.

For instance, if you want to buy Ethereum (ETH) with USDT, follow these steps:

  1. Look for the ETH/USDT pair on your exchange platform
  2. Place a buy order at your preferred price and quantity of ETH.
  3. Upon execution, your ETH coins will be stored in your spot wallet.
  4. You can hold ETH until its value increases and then convert it back to USDT or purchase other cryptocurrencies.