Spot Trading
Key Takeaways
Spot trading is one of the simplest and most traditional methods for buying and selling financial assets.
The Zenit World Exchange Spot trading platform offers a user-friendly interface with low fees and high liquidity, making it suitable for all types of traders.
This guide covers the basics of spot trading and shows you how to use Zenit Exchange Spot to easily buy or sell cryptocurrencies at any time.
Introduction
For many new to the world of cryptocurrency, spot trading is often the starting point. It’s a straightforward way to buy and sell financial assets directly.
At Zenit World Exchange, our spot trading platform is designed for simplicity, with a clean, user-friendly interface. Offering low fees and high liquidity, it provides an ideal experience for both novice and seasoned traders.
This guide will introduce you to the essentials of spot trading, explain how it differs from other trading methods, and highlight its advantages. We’ll also provide a step-by-step guide to getting started with spot trading on Zenit World Exchange.
What is spot trading
Spot trading is a direct and immediate form of trading, with transactions settling instantly and without any kind of leverage. It’s one of the most basic forms of trading and can be done with a variety of asset classes, such as cryptocurrencies, stocks, commodities, forex, bonds, and more.
Although spot trading may occur directly between traders, transactions are usually facilitated by an exchange like Zenit.
What’s the difference between Spot and Future Markets
In spot markets, trades are executed immediately or in the short term, with assets delivered right away. This type of trading is based on the current market price, determined by supply and demand. In contrast, futures markets operate with contracts that commit to buying or selling an asset at a specified future date. While spot trading reflects real-time pricing, futures contracts are agreements between buyers and sellers that set terms for later delivery.
Benefits of Spot Trading on Zenit World
Reduced Risk: Spot markets operate purely on buy and sell orders, so there’s no worry about liquidation or margin calls, making it perfect for users looking to buy and hold.
Ease of Use: Spot trading is simple and accessible, making it ideal for beginners entering the crypto world.
Instant Trade Flexibility: Traders have the freedom to enter or exit trades at any time, providing immediate control over their positions.
Zenit spot trading
Log into Zenit.world account and find “Spot Trading” on header
You will be redirected to Zenit spot trading interface
On the right side is the order book. Orders highlighted in Red “Sell orders” and orders highlighted in Green “Buy Orders”.
The trading chart at the middle is the chat of the selected pair. In this example, BTC/USDT
On the left side, you’ll find the trading pair list, displaying all available pairs on Zenit World. Use the search feature to quickly locate specific trading pairs.
To place buy or sell orders, head to the section below the chart. First, make sure your Spot Wallet is funded.
How to Buy BTC with USDT
Here's an example of how a user can purchase BTC using USDT on Zenit World.
Choose the order type
Limit Order - Specify the exact price at which you want to buy or sell an asset, regardless of the current market price
Market Order - A market order executes immediately at the best available price in the market.
Limit order
To place a limit order, enter the desired price and amount for your purchase, then click [Buy BTC] to submit the order.
Order success notification
If BTC reaches your order price, your order will be filled
Top right corner you can see the success message
Order created
You can see the creted order below order planing module
How to Sell BTC for USDT
Creating a sell order follows a similar process to Buying order. Here's how you can sell your BTC for USDT using a market order on Zenit World Exchange.
Choose order type
Select the order type, set the amount and click "Sell BTC"
Order created
As we are using a market order, the sell order will be created and filled at the current market price
How to view my orders
At the bottom of your trading interface, you can access your Order history, trade history, and other account details.
To cancel open orders, click the cancel button available right side of open orders
Final Thoughts
Starting your journey into cryptocurrency trading can be both exciting and rewarding, especially when beginning with the simplicity of spot trading. Zenit Spot provides a user-friendly platform that simplifies the process, making it accessible even for those new to the market. With its competitive fees, traders can maximize their returns, while the platform’s high liquidity ensures that orders are fulfilled quickly and efficiently, reducing waiting times and slippage.
Last updated
