How to Trade Crypto on Tapbit

How to Trade Spot on Tapbit (Web)

Spot trading is a straightforward process where buyers and sellers engage in transactions at the current market rate, known as the spot price. This trade occurs immediately upon order fulfillment.

In spot trading, users can set up trades in advance, activating them when a specific, more favorable spot price is reached. This is called a limit order. Tapbit offers a user-friendly trading page interface for spot trading.

Here’s how you can start trading on Tapbit’s website:

1. Navigate to the Tapbit website and log into your account.

2. Select a cryptocurrency from the [Markets] section on the home page to access its spot trading page.


3. On the trading page, you will find various tools:

1. Trading volume of trading pair in 24 hours;
2. Sell order books;
3. Buy order book;
4. Candlestick chart and Market Depth;
5. Trading Type: Spot;
6. Type of order: Limit/Market;
7. Buy Sell Cryptocurrency;
8. Market’s latest completed transaction;
9. Open orders/Order History/Trade History/Funds/Introduction.

4. To buy BTC, for instance, enter the desired price and amount in the buying section and confirm your transaction.

The process for selling BTC or any other cryptocurrency is similar.

NOTE:

• The default order type is a limit order. Traders have the option to switch to a Market Order when they want to execute an order promptly. Opting for a market order allows users to execute their trades instantly at the dominant market price.
• For instance, if the market price of BTC/USDT is currently at 44,200, but you have a specific buying price in mind, such as 44,000, you can place a Limit Order. When the market price eventually reaches your designated price point, your order will then be executed.
• Below the BTC Size field, you will find percentages that pertain to the portion of your USDT holdings you intend to use for the BTC trade. To adjust the desired amount, simply slide the slider to the desired percentage.

How to Trade Spot on Tapbit (App)

1. Log in to the Tapbit App, and click on [Spot] to go to the spot trading page.

2. Here is the trading page interface.

1. Market and Trading pairs;
2. Real-time market candlestick chart;
3. Sell/Buy order book;
4. Buy/Sell Cryptocurrency;
5. Open orders.

Let’s break down how to make a "Limit Order" trade to buy BTC in an easy-to-understand way:

First, you need to specify the price at which you want to buy BTC. This price is what will activate your order, and we’ve set it at 43,839.83 USDT per BTC.

Next, in the "Amount" field, enter the quantity of BTC you want to purchase. Alternatively, you can use the percentage options below to decide how much of your available USDT you want to use for buying BTC. When the market price of BTC reaches 43,839.83 USDT, your limit order will automatically kick in, and you’ll receive 1 BTC in your spot wallet.

You can follow the same steps to sell BTC or any other chosen cryptocurrency by selecting the [Sell] tab:

NOTE:

• The default order type is set to a limit order. Traders seeking to expedite their order execution may opt for a [Market] Order. By selecting a market order, users can engage in instant trading at the dominant market price.
• However, if the market price for BTC/USDT stands at 43,000, but you have a specific buying price in mind, such as 42,000, you have the option to place a [Limit] order. Your placed order will only be executed when the market price aligns with your specified price point.
• Furthermore, the percentages displayed beneath the BTC [Amount] field denote the proportion of your USDT holdings that you intend to allocate for the BTC trade. To adjust this allocation, simply move the slider to your desired percentage.

Frequently Asked Questions (FAQ)

What is a Limit Order?

A limit order is like setting a specific price tag on your trade. It won’t happen right away, unlike a market order. Instead, a limit order will only work if the market price reaches or surpasses the price you’ve set. This means you can use limit orders to buy at a lower price or sell at a higher price compared to the current market rate.

Here’s an example to make it clearer: Let’s say you want to buy 1 BTC, and the current BTC price is $50,000. You place a buy limit order at $60,000. Your order will be completed immediately at $50,000 because it’s a better price than your limit of $60,000.

Similarly, if you want to sell 1 BTC, and the current BTC price is $50,000, and you place a sell limit order at $40,000, your order will also be executed instantly at $50,000 because it’s a better price than your set limit of $40,000.
 

Market Order	Limit Order
Purchases an asset at the market price	Purchases an asset at a set price or better
Fills immediately	Fills only at the limit order’s price or better
Manual	Can be set in advance

What is Market Order?

A market order is promptly executed at the prevailing market price upon order placement, facilitating both purchase and sale transactions.

Within the context of a market order, users are provided with the choice of utilizing either the [Amount] or [Total] options for initiating buy or sell orders. To illustrate, if one desires to procure a specific quantity of BTC, they may directly input the desired quantity using the [Amount] option. Alternatively, if the objective is to acquire BTC with a predetermined sum of funds, such as 10,000 USDT, the [Total] option can be employed to execute the purchase order accordingly.

How to View my Spot Trading Activity?

You can easily check your spot trading activities using the Orders and Positions panel at the bottom of the trading interface. Just switch between the tabs there to see your current orders and the ones you’ve already completed.

1. Open Orders

Under the [Open Orders] tab, you can view details of your open orders, including:

1. Time
2. Type
3. Symbol
4. Size
5. Price
6. Order Qty
7. Filled Qty
8. Total
9. Filled%
10. Operation

2. Order history

Order history displays a record of your filled and unfilled orders over a certain period. You can view order details, including:

1. Time
2. Type
3. Symbol
4. Size
5. Price
6. Order Qty
7. Filled Qty
8. Average Price
9. Filled Value
10. Status

To display currently open orders only, check the [Hide Other Symbols] box.

3. Trade History

Trade history shows a record of your filled orders over a given period. You can also check thetransaction fees, including:

1. Time
2. Order ID
3. Symbol
4. Size
5. Type
6. Average
7. Price
8. Filled Value
9. Order Value
10. Filled Qty
11. Order Qty
12. Fee

4. Funds

You can view details of the available assets in your Spot Wallet, including the coin, total balance, available balance, frozen balance, and BTC Valuation.