November 30, 2022

Overview of the Spot Crypto Trading Mode on WhiteBIT

Overview of the Spot Crypto Trading Mode on WhiteBIT

The crypto market shows a decline in 2022, which means it is the best time to buy cryptocurrencies at a low price and hold them long-term until the upward trend starts. How and where to purchase crypto? Let’s talk about it in this article.

The market offers many crypto platforms for cryptocurrency buy and sell using different tools. If you are neither ready for daily trading nor prepared for challenging trading tools such as futures and margins, you may just buy assets in a spot market.

What is spot crypto trading? It is simply buying coins and receiving them in your wallet immediately (on the spot). You don’t have to borrow funds, and you don’t have to predict the market movement – you just buy coins here and now. Next, you can wait for the market growth and sell it, making a profit.

WhiteBIT Spot Trading

WhiteBIT is the largest crypto exchange in Europe, with over 2 million registered clients. It offers over 450 trading pairs and the opportunity to deposit fiat money into an account and buy cryptocurrencies with them.

The exchange has the following types of orders for spot crypto trading:

  • Market orders – you purchase and sell coins at the current prices in the market.
  • Stop market orders – helps to set limits on losses when the asset price moves up or down, crossing the price level you set.
  • Limit orders – helps to purchase and sell coins at a price you fix (if the price reaches the level you set for it)
  • Stop limit – you pre-set the conditions and timeframe for stop-price, and when it is reached, your position appears on the order book and can be executed.
  • Conditional orders – monitoring the price for crypto pairs that may affect the value of a user’s coins and helping to protect funds from that effect.

The WhiteBIT exchange offers low fees, two interface options – basic and advanced, demo account trading, and a high level of safety. Check out its blog to learn how to trade crypto.

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