Spot trading explained: market orders and limit orders
Spot trading means buying or selling a coin for immediate delivery at today's price. When you buy BTC with USDT on the spot market, the BTC is yours as soon as the order fills.
Market orders
A market order buys or sells right now at the best prices available in the order book. It is fast and simple, but the final price can be slightly different from the last price you saw, especially for large orders or quiet coins. This difference is called slippage.
Use a market order when getting in or out quickly matters more than the exact price.
Limit orders
A limit order sets the price you are willing to pay (or accept). A buy limit at 60,000 USDT for BTC only fills at 60,000 or lower. If the market never reaches your price, the order simply waits in the order book until you cancel it.
Use a limit order when the price matters more than speed.
An example
BTC is trading at 61,000 USDT. You think it may dip, so you place a buy limit at 60,500. If the price falls to 60,500, your order fills. If it rises instead, nothing happens and your USDT stays free.
Try it on Velxen
Open any pair on the Trade page, choose Market or Limit in the order panel, enter the amount and confirm. Spot trades on Velxen cost a 0.10% fee.
This article is for education only and is not financial advice. Crypto prices can rise and fall sharply; only trade with money you can afford to lose.
