Most exchanges such as Bityard where you can trade spot. The knowledge required to participate in this market effectively is far more advanced. However, the sophistication of this financial instrument allows more flexibility and control when trading.
What are Spot?
A spot market is a market in which securities, commodities and foreign exchange are traded “on the spot” with immediate transfer to the buyer. Spot also refers to the current price of a commodity (such as gold or silver) and trades that occur immediately, rather than scheduled for a later date.
Where have you heard about the spot?
If you’ve traded in gold or silver, you know that every commodity has a spot price. For example, the UK spot gold price shows you at what price you can buy and receive gold immediately.
The spot exchange rate tells you how much it will cost to buy and receive foreign currency. So it’s the same on crypto, you can see the spot price of many tokens on exchanges.
How to Trade Spot?
Spot trading is a trade that allows investors to buy and sell cryptocurrencies directly with other investors. Transactions will be completed immediately if the request is adjusted to the existing offer. Coins and tokens from exchange accounts can be used or new ones can be purchased. If the demand is balanced with the supply, the trading machine will automatically complete the trade. All transactions are carried out in one pair with Tether (USDT).
By selecting “Optional”, merchants can customize their crypto listings. Selecting “All” will display all available coins and tokens, while selecting “DeFi” will only display decentralized financial assets. “POS” will only show Proof-of-stake cryptocurrencies and the “Grayscale” tab will show more warm trades.
How to Buy and Sell?
The scenario below will use 1INCH, the best priced DEX aggregator on the market, as an example. To buy 1INCH, colored green, the trader has to select the desired amount and click the “Buy” button. To sell, in red, the trader must select the 1INCH amount he wants to sell and click the “Sell” button. Both the sales and purchase amounts can be adjusted from the percentage line, by clicking on any amount between 0% and 100%.
There are a lot of exchanges now where you can trade on spot. Today i will introduce one of them, which i often use to trade spot. This exchange is Bityard.
You must ask, “Why is Bityard More Special Than Others? Why Do You Introduce This Exchange?”
There are 44 cryptocurrencies available: 1INCH, AAVE, Cardano (ADA), ALGO, Alpha Finance (ALPHA), Aragon (ANT), ATOM, BAND, BAT, Bitcoin (BTC), Compound (COMP), CurveDAO (CRV), Civic (CVC), DASH, DOGE, Polkadot (DOT), Enjin (ENJ), EOS, Ethereum Classic (ETC), Ethereum (ETH), Filecoin (FIL), The Graph (GRT), Kyber Network (KNC), LINK, Loopring (LRC), Litecoin (LTC), Decentraland (MANA), Maker (MKR), OmiseGo (OMG), Ontology (ONT), REN, SAND, Synthetix (SNX), Decentralized cloud storage (STORJ), SUSHI, Tron ( TRX), UMA, Uniswap (UNI), Nexus Mutual (WNXM), Stellar Lumens (XML), Ripple (XRP), Tezos (XTZ) and Yearn Finance (YFI). New cryptocurrencies are being registered constantly, as the Bityard exchange is growing with the current DeFi demand.
The Bityard machine is the fastest on the market, processing up to 1 million transactions per second. The exchange is available for mobile (Android & IOS) and web, and has the lowest transaction fees. This platform aims for constant development and increase customer satisfaction.
The most important is that the user-friendly platform offers a complete range of tools, spot trading, contract trading for cryptocurrencies and derivatives. The Bityard interface is available in nine different languages with non-stop customer support via email and live chat.