Spot Trading

Real-time trading of cryptocurrencies like Bitcoin and altcoins for immediate delivery. Buy low and sell high.

Spot Trading Overview

Key Elements in Spot Market:

• Sellers: Set a specific sell price.

• Buyers: Place bids at a purchase price.

• Order Book: Records bids and asks.

• Bid Price: Highest price a buyer is willing to pay.

• Ask Price: Lowest price a seller will accept.

Key Concepts:

• Spot Price: Current asset price.

• Trade Date: The day the trade occurs.

• Settlement Date: The time when assets are transferred.

Spot Account

• Considerations: Spot trading considers the time value of share price, influenced by maturity and interest rates.

• Spot Exchange Rate: Rate of change in spot foreign exchange transactions.

• Account Access: Check your spot account balance under the "Balances" section on the homepage.

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Getting Started with Spot Trading

1. Login: Go to the KoinBay website and log in.

2. Trading Options:

   • Click 'Trade' and choose 'Classic' or 'Advanced' on the KoinBay homepage.

3. Select Cryptocurrency: Choose any cryptocurrency on the homepage for spot trading.

4. To buy: Enter the price and amount in the buying section and click 'Buy'.

Order Types

• Limit Order: Default type. Set a specific price for buying or selling.

• Market Order: Trade instantly at the current market price.

• Iceberg Order: Iceberg order is an order splitting strategy for large-value transactions. It aims to split large orders into multiple small orders for gradual execution, so as to hide the real transaction scale, reduce market impact, and improve execution efficiency.

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Troubleshooting

1. Order Not Executing:

   • Check if your order’s price matches a counterparty's bid/ask.

   • For faster execution, consider a new order at a competitive price or a market order.

2. Technical Issues:

   • If there are issues like inability to cancel orders or discrepancies in account crediting, contact customer support with order details and any error messages or screenshots.