Spot trading refers to the exchange of one digital asset for another. Using the BTC/USDT pair as an example, BTC is the base currency and USDT is the quote currency, meaning BTC is purchased with USDT.
- App
1. Open the AlphaX app and tap "Spot" in the bottom navigation bar.
2. Select trading pair
In the "Spot" trading page, select your desired trading pair from the list on the left (e.g., BTC/USDT).
3. Place order
Move to the buy and sell panel in the trading interface. You can choose from four order types: limit order, market order, trigger order, and OCO order. Below are the ways to place each type of order with examples:
(1) Limit order
A limit order allows you to buy or sell crypto at a specified price or better.
For example, suppose the current price of BTC/USDT is 91,921.5 USDT. You want to buy 0.01 BTC at a price of 91,000 USDT. Now you can set a limit order to buy 0.01 BTC at 91,000 USDT.
Steps: Select "Limit order" > Enter price: 91,000 USDT > Enter amount: 0.01 BTC > Tap "Buy BTC" to place order.
(2) Market order
A market order executes immediately at the best available market price.
For example, if BTC is currently priced at 91,921.5 USDT and you want to sell 0.01 BTC quickly, simply place a market order. The system will match your sell order with existing buy orders and complete the trade immediately.
Steps: Select "Market order" > Enter amount: 0.01 BTC > Tap "Sell BTC" to place order.
(3) Trigger order
A trigger order allows you to set a specific trigger price. When that price is reached, the system will automatically execute a buy or sell order. You can choose to execute as a market or a limit order.
For example, if you set a buy order for 0.01 BTC when BTC reaches 93,000 USDT:
Selecte "Market", the order will be executed immediately at the best available price.
Selecte "Limit", the order will be executed at 93,000 USDT or better. Steps: Select "Trigger order" > Enter amount: 0.01 BTC > Set trigger price: 93,000 USDT > Select "Market" or "Limit" > Tap "Buy BTC" to place order.
(4) OCO order
An OCO (One Cancels the Other) order lets you place a limit order and a stop limit order simultaneously. When one is executed, the other is automatically canceled.
For example, if the current BTC price is 91,950 USDT, you want to sell at 93,000 USDT, and also set a stop loss at 91,500 USDT before the price falls below 91,000 USDT.
Steps: Select "OCO" > Set TP limit price: 93,000 USDT > Set SL trigger price: 91,000 USDT > Set SL limit price: 91,500 USDT > Enter amount: 0.01 BTC > Tap "Sell BTC" to place order.
Note: OCO orders only support limit orders. In highly volatile markets or under insufficient liquidity, orders may not be triggered.
4. View your order history
After placing an order, you can track its status and view trade history at any time:
Visit "Open orders" to view ongoing or unfilled orders.
Visit "Order history" to view completed or canceled trades.
- AlphaX spot trading tips
1. Market orders: Suitable for fast execution, but the fill price may differ from the expected price due to market volatility.
2. Limit orders: Suitable for entering or exiting at a specific price. Orders can be executed automatically without constant monitoring.
3. Risk management: It is recommended to limit each cost to an amount you can afford to lose to avoid excessive losses from market volatility.
4. Stay informed: Continuously monitor market trends and news to make more informed trading decisions.
- Disclaimer and Risk Warning
All trading tutorials and content provided by AlphaX are for educational purposes only and do not constitute investment or financial advice. Cryptocurrency trading involves high risk and may result in loss of funds. Past performance does not guarantee future results. Fully understand the risks and conduct your own research before trading. AlphaX assumes no liability for any trading decisions and results made by users.