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
Login: Go to the KoinBay website and log in.
Trading Options:
Click 'Trade' and choose 'Classic' or 'Advanced' on the KoinBay homepage.
Select Cryptocurrency: Choose any cryptocurrency on the homepage for spot trading.
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
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.
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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