Trading isn’t always easy to understand. There are all kinds of buzzwords, volatility in the markets is commonplace, and it can all be a bit overwhelming. However, if taken one step at a time, full sense can be made of cryptocurrency markets, and how to effectively adapt your trading strategy to them. Here, we will explain to you one of the most common trading markets — Spot Trading. That is, what Spot Trading is, why Spot Trading is appealing to beginners, and how you can start Spot Trading with ZB.
Spot Trading involves buying and selling cryptocurrencies at live market prices. The price you buy and sell at is what the valuation is at the time — ‘on the spot’, so to speak. So, if you load up your laptop or mobile, head to a live crypto exchange, see a Bitcoin trading at price X and decide that you want to buy, that’s the price you pay for it.
Same goes for selling too. If you’re currently holding some BTC and you want to offload it quickly, head to a Spot exchange and it will be sold at the live market price. Remember, Spot = the price on the spot.
One of the factors that makes Spot Trading so appealing is its simplicity — there is no requirement to predict the market, you just simply buy and sell at the market price that you see. Transactions are completed almost instantly, so you will have your crypto as soon as you select ‘Confirm’ when completing a purchase or sale. This is something that makes it so appealing to beginner traders — it allows them to learn the ropes of cryptocurrency trading, while keeping things as simple as possible.
Furthermore, while it can sometimes be difficult to predict the direction a market is heading in, Spot Trading can at least alleviate some of this unpredictability by guaranteeing an on the spot price. It won’t of course protect traders from the potential of markets to fall, but there is at least clarity on immediate prices.
The Spot Trading function on ZB facilitates crypto trading that lets users buy and sell Bitcoin, Ethereum, Shiba Inu and hundreds more tokens based on to-the-second valuations, allowing users to take advantage of live crypto price updates to open and close positions and potentially maximize profits.
Bitcoin, Ethereum and Shiba Inu are just three of hundreds of tokens that can be spot traded on the ZB.com digital trading platform. To begin Spot Trading, you will firstly need your account set up, with a withdrawal address linked to your account and a completed deposit. Details on both how to set up a withdrawal address and how to deposit can be found on your ‘Account Information’.
More information on the ZB Spot Trading function can be found by following the link below: