A spot trade is a simple transaction between a buyer and a seller to trade at the current market rate, known as the spot price. The trade takes place immediately when the order is fulfilled.Users can prepare spot trades in advance to trigger when a specific spot price is reached, known as a limit order. You can make spot trades on Binance through Binance’s trading page interface.
Making a spot trade on the Binance Website
Visit the Binance website and click [Log in] at the top right corner.
Click on any cryptocurrency on the home page to go directly to the corresponding spot trading page. You can find a larger selection by clicking [View more markets] at the bottom of the list
You will now find yourself on the trading page interface.
(1). Binance Announcements
(2). Trading volume of trading pair in 24 hours
(3). Sell order book
(4). Buy order book
(5). Candlestick chart and Market Depth
(6). Trading Type: Spot/Cross Margin/Isolated Margin
(7). Type of order: Limit/Market/Stop-limit/OCO(One-Cancels-the-Other)
(8). Buy Cryptocurrency
(9). Sell Cryptocurrency
(10). Market and Trading pairs.
(11). Your latest completed transaction
(12). Market Activities: large fluctuation/activities in market trading
(13). Open orders
(14). Your 24h order history
(15). Binance customer service
Let’s look at buying some BNB.
At the top of the Binance home page, click on the [Trade] option and select [Classic] or [Advanced].
Go to the buying section (8) to buy BNB and fill in the price and the amount for your order.
Click on [Buy BNB] to complete the transaction.
You can follow the same steps to sell BNB.
- The default order type is a limit order. If traders want to place an order as soon as possible, they may switch to [Market] Order. By choosing a market order, users can trade instantly at the current market price.
- If the market price of BNB/BTC is at 0.002, but you want to buy at a specific price, for example, 0.001, you can place a [Limit] order. When the market price reaches your set price, your placed order will be executed.
- The percentages shown below the BNB [Amount] field refer to the percentage amount of your held BTC you wish to trade for BNB. Pull the slider across to change the desired amount.