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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.


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.


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.

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