Introduction
Spot trading is the most common and beginner-friendly way to buy and sell cryptocurrencies on Binance.
What Is Spot Trading?
Spot trading involves buying a cryptocurrency at the current market price and owning it instantly. You can then hold it, sell it later, or use it in other Binance services.
Key Terms
Base currency: The coin you want to buy or sell (e.g., BTC in BTC/USDT).
Quote currency: The currency you use to value the base currency (e.g., USDT)
Types of Orders
Market Order: Buys or sells instantly at the current market price.
Limit Order: Executes only when your chosen price is reached.
Tips for Beginners
Start with small amounts.
Use stop-loss orders to limit potential losses.
Avoid impulsive trades.
Binance Spot trading is simple, transparent, and a great way to start building your cryptocurrency portfolio