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Best Cryptocurrency for Spot Trading

There are many different crypto trading techniques used by traders and investors to generate income in the short and long term. we will list the most common ones:

  • Scalping
  • Day Trading
  • Swing
  • Position

Scalping and intraday trading imply trades opened and closed within one day or 15 minutes. These short trades allow for generating income from small market trend fluctuations that occur in the shortest period and a maximum of one day. These days, when the crypto market is living through its downtrend, many crypto investors prefer to purchase crypto for the short-term, using these trading strategies to make money on the price changes within one day.

In addition to trading methods, there are also trading tools traders pick depending on their strategy. For example, spot trading means buying crypto here and now with immediate delivery; futures trading means agreeing on buying or selling coins in the future; and margin means borrowing funds to enter the market with a more advantageous position.

Short-term investments usually imply spot market trading. Let’s discuss it in more detail and tell what coins suit this trading style.

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What is Spot?

It is the simplest type of trading when a trader buys crypto assets at the current market price, and the coins are delivered to one’s wallet immediately. With a basic understanding of buying and selling crypto, anyone will succeed using this type of trading. How does it happen:

  1. You place an order to buy, for example, a Solana coin on a crypto exchange.
  2. Enter the coins you have (crypto or fiat money).
  3. The exchange displays the current Solana crypto price.
  4. You pay the fee, and SOL coins will be delivered to you in a matter of seconds.

When picking an asset for spot trading, pay attention to coin liquidity and trade volume. The higher the indicators, the better because it means the asset is in demand, so you can easily resell it to generate income. SOL crypto suits spot trading style. You can find the up-to-date SOL price on the WhiteBIT crypto trading exchange. Right there, you may try any trading strategy and tool using the demo account or deposit funds and start trading on the real spot market here and now.

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Rahul Roy
Rahul Roy
I am a computer guy by profession and a sports fanatic by choice.
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