What does the term Crypto Exchange mean? A cryptocurrency exchange is a place that allows customers to buy or sell cryptocurrencies. The user can exchange cryptocurrency with other assets, fiat money, or other cryptocurrencies. There are many crypto exchanges from where the user can trade. One of them is KuCoin which is a vision that one day everyone will be using cryptocurrency. KuCoin started in 2017 and has its headquarters in Seychelles. Due to its outstanding features, this exchange compelled people from Worldwide to join it, and now it has more than 20 million people registered with it. Well, here we are going to decipher spot trading. So, let’s go!
Details Of Spot Trading
One might be wondering what Spot trading is all about? So, Spot trading is buying and selling cryptocurrencies at real-time prices. This buying and selling aim to generate a trading profit. One question that might arise in the mind of a person new to the crypto world is the term real-time. Real-time refers to the trading that is done in a minimal time. The benefit of this Spot trade is that it’s less risky, and the reward or risk can be judged quickly.
Furthermore, Spot trading gives more accurate crypto prices. The reason is transparent transactions based on demand and supply. One more benefit of Spot trading is that it offers its users the ability to trade on a wide range of cryptocurrencies. On the other hand, other tradings offer few currency pairs to work with.
Does KuCoin offer Spot Trading?
Yes, Ku Coin offers Spot trading, and there are four types of order spot trading Ku Coin offers. The first one is called Limit Order. In Limit order, the user places an order to buy or sell a fixed number of assets quantity and that too at a stated limit price. This incl is setting the ideal commission price and quantity. For example, if the Bitcoin price is 4,314,056.16PKR and the price falls to 4,300PKR, one can place an order as a limit order.
Another order type is called Market Order which refers to order at the best available price in the current market.
The next is a Stop Limit Order, where an order is placed to buy or sell a preset quantity of assets at an earlier limit price when the current price reaches the preset trigger price.
Stop Market Order Is The Following Type Of Order Trading
This one order is placed to buy a preset quantity of products at the latest market cost when the newest price reaches the preset trigger price. If the current BTC price is 4,314,056.16PKR, and one thinks that the support price would not increase when the number breaks through the support price, then one could sell it when the cost reaches the support price.
Thus KuCoin, with its unique features, offers spot trading also. Spot Trading is less risky and gives more accurate prices of cryptocurrencies. Furthermore, the users can utilize their crypto assets for other services.