Spot trading is simply buying or selling cryptocurrencies at the current market price.
How to Get Started?
- Choose an Exchange: There are lots out there, look for a well-known one with a good reputation.
- Set Up an Account: You’ll need to provide some basic info and verify your identity.
- Add Money to Your Account: You can transfer crypto from another wallet, or deposit regular money (like USD or Euros).
- Pick Your Crypto: Most exchanges offer all the popular cryptos, plus lots of smaller ones.
- Place Your Order: Decide if you want to buy or sell, how much, and then place your trade!
Types of Orders
- Market Order: Buys or sells at the current price, happens instantly.
- Limit Order: Lets you set the exact price you’re willing to pay/accept. Your order might not fill right away.
The Big Idea: Spot trading is the simplest way to get into crypto investing. If you’ve ever bought stocks, it’s a very similar process.
