Spot trading involves buying or selling assets like cryptocurrencies at the current market price (spot price), with immediate asset delivery once the order is fulfilled. Traders can also use limit orders to set a specific price for their transactions.
The Coinstore app allows for different types of spot trading orders, such as market orders and limit orders. In this example, we’ll demonstrate how to buy BTC using a limit order.
1. Log in and Access Spot Trading : Open the Coinstore app, log in, and navigate to "Spot" at the bottom of the screen. Select a trading pair, such as BTC/USDT.
2. Select Limit Order: Go to the "Buy" tab and choose the "Limit order" option.
3. Set Your Order: Enter the price at which you wish to buy BTC and specify the order amount. Alternatively, use the percentage bar to decide how much of your balance to allocate to the order. Tap "Buy BTC" to place your order.
4. Check Your Orders: Your limit order will appear under "Open Orders".
Note: The default order type is a limit order. If you prefer to trade instantly at the current market price, select "Market".