# Spot Trading

## 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.


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