1. Spot Trading
Spot trading is the buying and selling of crypto at the current market rate – called the Spot price – with the intention of taking delivery of the underlying asset immediately. It is referred to as spot trading as assets are traded instantly, or “on the spot”. This makes the Spot market different from other types of trading, such as futures trading, where assets are bought and sold for delivery at a future date.
2. Spot Market
The Spot market is a type of financial market where financial instruments are traded for immediate delivery. In the crypto spot market, cryptocurrencies are traded for immediate delivery.
3. Spot Price
The price at which digital assets are traded on the spot market is called the spot price.
4. Sell Order
When a seller indicates the amount of a certain cryptocurrency they are willing to sell at a specific price, it is called a sell order and is sent to the order book.
E.g. Among sell orders for BTC/USDT trading pair, if you see an order of Price (USDT) = $22813.48 for Amount (BTC) = 0.00069, the Total (i.e. USDT paid for that order) = 15.74130 (i.e. 22813.48 × 0.00069)
5. Buy Order
When a buyer indicates the amount of a certain cryptocurrency they are willing to purchase at a specific price, it is called a buyer order and is sent to the order book.
6. Order Book
The order book is a record of the orders requested by both buyers and sellers for a particular cryptocurrency or trading pair. It is updated real-time as and when more orders are placed. It consists of both buy and sell orders, the price the trader is willing to pay or accept, the amount they want to trade, as well as the total cost of that order.
When you place an order that trades immediately before going on the order book, you are a taker. This is regardless of whether you partially or fully fulfil the order.
Trades from market orders are always taker trades, as market orders never go on the order book. These trades are "taking" volume off the order book, and therefore are taker trades.
When you place an order that goes on the order book partially or fully, such as a limit order, any subsequent trades coming from that order will be maker trades.
These orders add volume to the order book, help to “make” the market, and are therefore termed makers for any subsequent trades.
9. 24h Change
The 24h change is the difference between the current price and the price 24 hours ago. The current price of bitcoin is $22,831 with 24 change of -324.29 which means the price was & and was $23155.29 24h ago and has dropped by 1.4% since then.
10. 24h High/Low
24h high indicated the highest price reached by the asset in the past 24 hours.
The 24h low indicates the lowest price reached by the asset in the past 24 hours.
11. 24h Volume
The 24h volume is the amount of cryptocurrency that has been traded (both buy and sell) within the last 24 hours.
12. Limit Order
A limit order is an order to buy or sell a specific amount of a cryptocurrency at a specific price or better. This means that your order will only be filled if the market price reaches the price you specify.
13. Market Order
A market order is an order to buy or sell a specific amount of a cryptocurrency at the current market price. This means that your order will be filled at the best available price currently available on the market.
14. Stop-limit Order
A stop-limit order has a stop price and a limit price. You can set the minimum amount of profit you’re happy to take or the maximum you’re willing to spend or lose on a trade. When the trigger price is reached, a limit order will be placed automatically.
Stop-limit orders are good tools for limiting the losses that may incur in a trade. For example, BTC is trading at $22,000, and you set up a stop-limit order at a stop price of $21,500 and a limit price of $21,000. A limit order at $21,000 will be placed when the price drops from $22,000 to $21,500.
Learn more about [What is the Stop-Limit Function and How to Use It]
15. Trailing Stop Order
A trailing stop order is very similar to a stop-limit order, but a trailing stop order’s trigger price will follow your position when the market moves favourably for you, and will close the position if the market moves adversely against you. With a Spot trailing stop order, you can place a pre-set order at a specific percentage away from the market price.
Learn more about [How to Use Spot Trailing Stop Order]
16. OCO Order (Other Cancels Other)
A One-Cancels-the-Other (OCO) order combines one stop limit order and one limit order, where if one is fully or partially fulfilled, the other is cancelled.
An OCO order on Pexpay consists of a stop-limit order and a limit order with the same order quantity. Both orders must be either buy or sell orders. If you cancel one of the orders, the entire OCO order pair will be cancelled.
Learn more about [What is an OCO (One-Cancels-the-Other) Order and How to Use It]
17. Market Trades
This section depicts all buy and sell orders that have been executed in real-time. Similar to the order book, it is updated real-time when more orders are executed.
18. Open orders
An open order is an order that is still pending and has not yet been fulfilled. Either the requirements have not been met, or that trader has not yet cancelled it.
19. Order History
As the name suggests, this section displays a record of all your previous buy and sell orders placed. This includes filled, partially-filled, cancelled and expired orders.
20. Trade History
This section displays a record of all your previously executed buy and sell orders. This only includes successfully filled or partially-filled orders.
Here you can see all the funds currently present in your spot wallet. You can choose among these funds to trade on Pexpay’s spot platform. If you need more funds, you can either transfer from your funding wallet or deposit more.
Beginners’ Guide to Pexpay Spot:
- How to Trade Spot on Pexpay App
- Your Guide to Spot Trading on Pexpay
- How to Do Spot Trading on Pexpay Website
- What is Pexpay Spot Trading Fee and How to Calculate It
- Different Order Types in Spot Trading
- What are Spot Market Makers and Takers
- How to Use Spot Trailing Stop Order
- What is the Stop-Limit Function and How to Use It
- What is an OCO (One-Cancels-the-Other) Order and How to Use It
- How to Resolve Order Issues