From the LBank blog.
LBank is a top crypto exchange that provides safe, professional and convenient cryptocurrency asset exchange services, currency quantification services, interest-generation services and other business services for global users
Relying on its superior software design, abundant product outsourcing experience, low threshold and other unique advantages, LBank believes that it will bring a better experience to users through innovation and continuous improvement.
The world’s leading crypto asset trading platform is here to promote a decentralised and trustless blockchain ecosystem. As the world-leading cryptographic assets trade platform, LBank has a complete range of services including Spot trading, Grid trading, and Derivatives.
Welcome to the Home of Cryptocurrency on LBank!
It is fast, easy, and safe to trade Spot on LBank. We are dedicated to providing customers with a trusted environment for trading crypto assets. At LBank, you can easily trade the largest selection of crypto assets around the world.
Backed by professional experts and world-class security, LBank also provides derivative trading services, namely; futures and leveraged trading. LBank aims to be a new golden blockchain standard in the development of global digital assets.
What is Spot Trading?
The Spot trade is a fast and flexible way to buy or sell financial assets. This is a great way to buy or sell financials at a fair price because you are able to pay only for the transaction — there are no trading margins or other fees.
Spot trading works like an order to buy or sell an asset immediately, for the current market price, and in the specified quantity. You submit a request for a deal when you choose from the available deals listed on the spot market.
Spot trading lets you trade financial products on demand. This capability helps meet the needs of today’s high-volume, low-latency markets. You can instantly buy or sell any asset you select in a short time.
Trade easily and more cost-effectively with spot trading. You can place spot orders in spot markets such as exchanges or over-the-counter (OTC). Just submit a limit order and specify the conditions of your trade: price, volume, etc. The liquidity provider will fill our order immediately, at the best possible price.
Spot Trading is a stage for institutional and retail purchasers to purchase and offer Bitcoin and different Cryptocurrencies. You can purchase or offer Bitcoin through the auction, immediate or coin trading procedure by utilising your LBank account.
LBank makes spot trading easier for newbies with a simple to use mobile application and a familiar interface. It is one of the most innovative and safest platforms for buying, selling, and exchanging cryptocurrencies. It’s worth a look if you are thinking about investing in any project. Moreover, on LBank you can trade for as low as $1, unlike other exchanges where the minimum amount is $10 dollars.
How to Spot Trade on LBank
To start trading Spot on LBank, you have to register and create an account. After you are verified, the account takes you to the homepage.
Once you are on the homepage, then go to the section where you see the ‘Trade’ button. Click on trade, so use the Spot option. If you are trading with a laptop the interface will show you a more advanced interface.
When the spot trading options open, you will see the trading pairs on the left side where you can choose the cryptocurrency you want to trade. You can put in the token name of crypto on the ‘Search’ button to make it faster.
In the middle of this screenshot is a chart view with customizable historical price information. This gives a market overview of the price actions, you can utilise it to build trading strategies to make more profitable decisions.
Meanwhile, on the right side of your screen, you will see the ‘Order Book’ and ‘Recent trades’. The order book is a collection of all open buy and sell orders for a particular asset, arranged by price. Buy orders are in green, and sell orders are in red.
You can choose between buying and selling depending on your objective. In this part, you can choose from Limit, Market, and Stop-limit orders.
Even more, you can also use Grid training tools to maximise your profit.
This article came directly from the LBank blog, found on https://medium.com/lbank/beginners-guide-to-lbank-crypto-exchange-how-to-do-spot-trading-c5f32763465?source=rss—-69b5b1a654b1—4