How to Spot Trade on Frypto?
31 May 2023, 11:51 by Frypto Team
Step 1: After logging in, choose Trade
It is important to know what spot trading is before you take the action. Spot trading refers to the act of buying and selling cryptocurrencies at market prices. Simply put, if you have a cryptocurrency A and want to buy & sell a cryptocurrency B, you can do it by placing buy & sell orders through trading pairs (B/A).
For instance, if you wish to buy some bitcoins (BTC) and you are holding some BUSD, proceed to place trading orders in BTC/BUSD pair.
Step 2: Choose the currency pairs you would like to place an order by Clicking Trading Pair (etc: BTC/BUSD)
Switching between Pro-mode and Lite-mode to access the full suite of trading tools, including the candle charts & the order book.
Step 3: On the right side, you can place a Buy or Sell order, and the price & amount you wish to buy
You can choose between a Market Price order (MP) or a Limit Order (LO) based on your preference
Limit Order (LO): an order to buy or sell a security at a specified price or better
For example, the current BTC price is 10,000 BUSD, you can place a limit order at 9,000 BUSD. When the actual price reaches the limit price, the order will be automatically matched.
Market Price Order (MP): an order to buy or sell a stock at the market's current best available price
For example: if you wish to buy some BTC at the current price of 12,000 BUSD, place a MP order to match immediately.
Step 4: Input the amount of crypto you wish to buy or sell
Click Sell/Buy to complete placing your order
Wait for a few seconds and check your order history for the status of the transaction.