Spot trading on Binance is a simple process once you've signed up for an account. Let's review the Binance exchange view and explore how to place a spot trade. You can find the spot trading platform by hovering over [Trade] and clicking [Spot] on theBinance homepage.
You will now see the trading view, which contains several different sections of interest.
1. At the top, you can see the cryptocurrency trading pair and other market data, such as daily price change and volume.
2. The order book lists all open buy and sell orders for an asset, organized by price. Green orders are buy orders, and red orders are sell orders. When you place a market order to buy an asset, you accept the lowest offered price. If your order still requires more volume to be filled, it will move to the next lower ask price.
3. Here you'll see the chart view with customizable historical price data. Built into the window is TradingView, which provides you with a wide variety of technical analysis tools to use.
4. In the top right corner, you can search for different trading pairs. Here, you can choose the cryptocurrency pair you want to trade on the spot market, as well as mark your favorite pairs by clicking on the small stars. Keep in mind that you can't only buy cryptocurrencies with fiat. If you own other cryptocurrencies, you can also exchange them for other coins and tokens on the spot market.
5. This is where you'll create your buy or sell orders. You can see that it's currently in the [Spot] section. Below that, you can choose between [Limit], [Market], and [Stop-limit] orders.
Let's take a look at the simplest spot trade you can make: a market order. In our example, you want to buy 1,000 USD (BUSD) worth of Bitcoin (BTC). To do this, all you need to do is enter 1,000 in the [Total] field and click [Buy BTC]. The exchange will immediately deliver the BUSD to the seller, and you will receive 1,000 BUSD worth of BTC.
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