What is spot trading?
Spot trading refers to the process of exchanging one virtual currency for another. In this type of transaction, one crypto is used as the “quote currency” to price another, with Tether (USDT) commonly serving as the base unit on centralized exchanges.
For example, buying Bitcoin (BTC) with Tether (USDT) forms the BTC/USDT trading pair. The price of this pair reflects how much Tether (USDT) is required to buy one Bitcoin.
Similar to other trading types, orders with more favorable prices and earlier placement times are executed first.
As the blockchain industry evolves, the variety of virtual assets has grown significantly.
Previously, most users acquired cryptocurrencies through fiat currencies like USD or CNY. However, with growing global participation, fiat trading alone can no longer meet all user needs.
Today, many professional traders prefer spot trading, which allows direct exchanges between different virtual currencies.
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Happy Trading,
The WEEX Team
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