#MerlinTradingCompetition
What is spot trading on Binance?
Spot trading is one of the simplest types of trading in cryptocurrencies, where a digital asset is bought or sold directly at the current market price, and the transaction is executed immediately. On the Binance platform, spot trading is an ideal option for beginners and users who want to actually own cryptocurrencies.
How spot trading works:
1. Open an account on Binance: You must first register and activate the account.
2. Deposit funds: You can deposit cryptocurrencies or local currencies (via bank transfer or card).
3. Choose the right market: For example, BTC/USDT.
4. Determine the order type: Such as market order or limit order.
5. Execute the transaction: Buy or sell according to the chosen price and timing.
Advantages of spot trading on Binance:
Ease of use: Simple and fast interface.
Asset diversity: Hundreds of trading pairs.
High liquidity: Fast transaction execution.
Low fees: Competitive fees starting from 0.1%.
Tips for beginners:
Do not invest more than you can afford to lose.
Use stop-limit orders to reduce risks.
Continuously follow news and market movements.
---
