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Common Spot Trading Questions

2023.11.6 MEXC

Cryptocurrency trading has surged in popularity among investors worldwide, leading to the daily influx of hundreds or even thousands of traders on MEXC engaging in spot trading to purchase cryptocurrencies. For newcomers entering the world of spot trading, questions often arise. To address this, we have gathered and answered common queries that users may encounter during their MEXC spot trading experience.

1.What is cryptocurrency spot trading?

Cryptocurrency spot trading refers to the process where buyers and sellers purchase or sell cryptocurrencies such as BTC, ETH, and MX at a specific market price, and execute the transaction for settlement. For example, in the MX/USDT pair, the price represents the amount of USDT required to buy 1 MX or the amount of USDT that can be obtained by selling 1 MX.

2.What is the difference between spot trading and futures trading?

Spot trading and futures trading have fundamental differences. In spot trading, traders own the underlying assets, and both parties exchange quotes and token assets directly. Therefore, spot trading involves the direct transfer of cryptocurrency assets between market participants.

Futures trading involves buying and selling contracts representing the value of specific cryptocurrencies. When you purchase a futures contract, you do not own the underlying cryptocurrency asset. Instead, you have a contract agreeing to buy or sell cryptocurrencies at a predetermined price on a specific date in the future. In this scenario, you can predict price fluctuations in advance, choose to go long by buying contracts, or go short by selling contracts, participating in cryptocurrency volatility to earn profits.

3.What are the trading fees for spot trading on MEXC?

The spot market maker and taker fees on MEXC are both 0.1%.

4.What are takers and makers?

① Taker:

A taker is someone who places an order that matches directly with existing limit or market orders. Takers consume market liquidity.

② Maker:

A maker is someone who places an order, specifies the price and quantity, and waits for other users to match it. Makers add liquidity to the market.

5.What types of orders are supported in spot trading?

MEXC spot trading supports three types of orders: limit orders, market orders,stop-limit orders  and One-Cancels-the-Other orders. For specific differences between these order types, you can refer to the article "Different Types of Spot Orders."

6.How can I view my filled order history?

You can view your filled order history in the "Trade History" section located below the order book. Alternatively, you can click on [Orders] in the top right corner - [Spot Orders] to view all your orders.

7.What should I do if I am unable to trade due to my funds being occupied by open orders?

If your funds are occupied by open orders, and you want to trade other cryptocurrencies but have insufficient balance, you can go to the "Open Orders" section to view your unfilled orders, and click on the cancel button to release the occupied funds, allowing you to use them for new orders.

8.How to make a deposit?

If you have no funds in your account, you can make a deposit directly. For deposit methods, you can refer to the articles "How to Deposit Crypto to the MEXC Platform (Website)" and "How to Deposit Crypto to the MEXC Platform (App)."

9.What are the Main Zone, Innovation Zone, and Assessment Zone?

The Main Zone, Innovation Zone, and Assessment Zone are classifications of cryptocurrencies on MEXC based on market capitalization and innovation. For specific differences between these classifications, you can refer to the article "Introduction to MEXC Spot Trading Zones."

10.Is there a minimum order quantity and minimum total order amount for each trade?

Yes, there are different rules for different trading markets on MEXC. Please refer to the article "Spot Market Trading Rules" for details.

11.What is the difference between Open Orders, Order History, and Trade History?

① Open Orders:

This section displays orders that are still waiting to be filled or triggered.

② Order History:

This section displays the historical records of filled or canceled orders.

③ Trade History:

This section displays successfully filled and completed trades. If the order quantity is large, it might be fulfilled through multiple trades, all of which will be shown in the historical records.

Disclaimer: Cryptocurrency trading involves risk. This information does not provide advice on investment, taxation, legal, financial, accounting, or any other related services, nor does it constitute advice to purchase, sell, or hold any assets. MEXC Learn provides information for reference purposes only and does not constitute investment advice. Please ensure you fully understand the risks involved and exercise caution when investing. The platform is not responsible for users' investment decisions.

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