Sign UpHow to Spot Trade on Toobit App
2024-08-22
A spot trade is a transaction between a buyer and a seller at the current market rate, known as the market price. The trade is executed immediately once the order is fulfilled. Users can also set up spot trades in advance to trigger when a specific (more favorable) spot price is reached, known as a limit order. Spot trades can be done on the Toobit App.
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Log In: Open the Toobit App and log in to your account. Tap on Trade to navigate to the spot trading page.
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Trading Page Interface: You will now be on the trading page, which includes:
- Market and Trading Pairs
- Real-time Market Candlestick Chart and Supported Cryptocurrency Trading Pairs
- Buy Crypto Section
- Buy/Sell Cryptocurrency Options
- Sell/Buy Order Book
- Open Orders
As an example, we will create a "Limit Order" to buy BTC.
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Set the Limit Order: Enter the spot price at which you wish to buy BTC to trigger the limit order. For this example, we set the price at 24,006.53 USDT per BTC.
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Specify the Amount: In the Amount field, enter the amount of BTC you wish to purchase. You can also use the percentage options below the field to select how much of your held USDT you want to use to buy BTC.
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Execute the Order: Once the market price of BTC reaches 24,006.53 USDT, the limit order will trigger and execute.
You can follow the same steps to sell BTC or any other cryptocurrency by selecting the Sell tab.
Additional Notes
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Default Order Type: The default order type is a limit order. If you prefer to place an order immediately, you can switch to a Market order. A market order allows you to trade instantly at the current market price.
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Limit Orders: If the current market price of BTC/USDT is 23,986.55 USDT, but you wish to buy at a specific price, such as 24,006.53 USDT, you can place a Limit order. The order will be executed when the market price reaches your specified price.
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Amount Percentages: The percentages shown below the BTC Amount field represent the portion of your held USDT you wish to trade for BTC. Adjust the slider to change the desired amount.
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