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 (better) spot price is reached, known as a limit order. You can make spot trades with Pexpay on the Pexpay App.
Making a spot trade on the Pexpay App
- Log in to the Pexpay App and click on [Trade] to go to the spot trading page.
- You’ll now find yourself on the trading page interface.
(1). Market and Trading pairs
(2). Real-time market candlestick chart supported cryptocurrency trading pairs
(3). Sell/Buy order book
(4). Buy/Sell Cryptocurrency
(5). Open orders
As an example, we will make a "Limit order" trade to buy BTC
(1). Input the spot price you wish to buy your BTC for and that will trigger the limit order. We have set this as 19,000 USDT per BTC.
(2). In the Amount field, input the amount of BTC you would like to purchase. You may also use the percentages underneath to select how much of your held USDT you want to use to buy BTC.
(3). Once the market price of BTC reaches 19,000 USDT, the limit order will trigger and complete. 1 BTC will be sent to your spot wallet.
You can follow the same steps to sell BTC or any other chosen cryptocurrency by selecting the [Sell] tab.
- The default order type is a limit order. If traders want to place an order as soon as possible, they may switch to Market By choosing a market order, users can trade instantly at the current market price.
- If the market price of BTC/USDT is at 19,000, but you want to buy at a specific price, for example, 18,000, you can place a Limit When the market price reaches your set price, your placed order will be executed.
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