What is Spot Trading?

Spot trading is a transaction between buyers and sellers of cryptocurrencies at a consistent price. Most of the cryptocurrency asset transactions we usually come into contact with use the stable currency Tether (USDT) as the pricing unit. Most trading pairs also use USDT for exchange, such as BTC/USDT and ETH/USDT. Usually we use USDT to buy BTC, or use BTC to trade into USDT. It does not involve any contract or leverage and is delivered on the spot, so it is called spot trading, that is, currency-to-crypto trading.

How to conduct spot trading on Hotcoin?

Step 1: Create and log in to a Hotcoin account. After successful registration, don’t forget to go to the Welfare Center to receive the exclusive gift package for newbies~

Step 2: Recharge or buy coins

Deposit your own assets or purchase USDT, USDC, BTC and more to your Hotcoin spot account.

Send cryptocurrencies from your other wallet to your Hotcoin spot account. Or use fiat currency to buy cryptocurrencies through C2C currency buying/credit card buying.

Step 3: Enter from the "Spot Trading" of "Trading" in the navigation bar

Step 4: Select a trading pair and place an order.

Select the trading pair you are interested in, and the order type. The default order type is a limit order. If you want to buy/sell cryptocurrencies as quickly as possible, you can switch to market prices. By selecting a market order, you can place a trade immediately at the current market price.

If the market price of BTC/USDT is 27,858, but you want to buy 0.1 BTC at a specific price, such as 27,000, you can place a [limit price] order. Once the market price reaches the price you set, your order will be executed. Your Bibi account will have 0.1 BTC (excluding handling fees).

Step 5: View successfully purchased assets

Click "Assets" and select "Spot Account" to view your assets.