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Spot Trading Guide for Beginners : From the Ground Up

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Source

What you will learn from this post :

1. What is Spot Trading?

2. How does it work?

3. Which platform to trade on?

4. How to open a trade?

5. How to calculate profit or loss?

6. Strategies and Warnings

What is Spot Trading?

Spot Trading is a method where you buy or sell a cryptocurrency at the current market price and you immediately own the asset. In simple terms, when you buy BTC, it sits in your wallet. If the price goes up, you sell it and make a profit, and if the price goes down, you make a loss.

Which platform to choose?

Some popular and safe platforms for beginners:

Name	Features
Bitget	Easy interface, spot and futures trading facilities
Binance	High liquidity, educational resources
KuCoin	Start trading at a low price
Bybit	User-friendly spot trading

How to open a trade?

Let’s say you want to buy TRX on Bitget :

Step 1 :

● Open an account

● Complete KYC

● Enable 2FA security

Step 2 :

● Deposit funds

● Deposit USDT, BUSD, or BTC

Step 3 :

● Open the market

● Go to the “Spot Trading” section

● Find the TRX/USDT pair

Step 4 :

● Place an order

● If you want to buy quickly = Market Order

● If you want to buy at a specific price = Limit Order

Example : If you buy TRX at 0.12 with 100 USDT, you will get 100 / 0.12 = 833.33 TRX

How to calculate profit or loss?

● If you make a profit :
Let's say you buy TRX at $0.12 and sell it at $0.15, then profit = (0.15 - 0.12) * 833.33 = $25

●If you make a loss :
If TRX drops to $0.10, then loss = (0.12 - 0.10) * 833.33 = $16.67

Source

Some tips for beginners :

1. Start with small amounts, such as $10 or $20 to learn

2. Focus on popular coins such as BTC, ETH, SOL, TON, NEAR

3. Use the “DCA” strategy step by step, rather than buying everything at once

4. Keep a record of your trades, note down your daily trading information in a Google Sheet.

5. Don't follow rumors, don't invest without understanding if a coin is getting hyped

Warning :

1. The market can dump at any time

2. Spot trading is also relatively safe

3. However, only trade with the money that you can afford to lose

A small example :

Suppose you see the price of TON coin at 6.00 USDT and buy it for 10 dollars. After a few days, the price is 7.00 USDT.
Then if you sell it, your profit will be (7-6)* (10/6) = 1.66 USDT profit!

Conclusion :

You don't need much to start spot trading.

1. Just a good exchange
2. A little confidence
3. Another experienced guide

My final words :

If you are willing to learn, trading will open the door to profit for you. And you need to keep in mind all the events going on in the crypto market and understand the market sentiment.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.

Me behind the camera and keyboard