Terminology

If you're a beginner in the world of cryptocurrency, the term "spot trading" might be unfamiliar to you. However, it's a common form of trading in the crypto market that you should know about. In this article, we'll provide a concise overview of spot trading, including its definition, benefits, and risks.

What is a cryptocurrency pair? When you start trading cryptocurrencies, you'll likely encounter a large number of trading pairs consisting of two cryptocurrencies, such as BTC/USDT, ETH/USDT. A cryptocurrency pair is a transaction ratio consisting of two cryptocurrencies, such as BTC/USDT, where USDT is the quote currency and BTC is the trade currency.

If you are new to crypto trading, spot trading is an excellent place to start. Spot trading is the simplest way to buy and sell cryptocurrencies. When you want to buy or sell crypto, you can place an order on the spot market, and the OKX exchange will match your order with a buyer or seller.

Read on for a comprehensive list of common cryptocurrency terms you'll encounter. Common crypto terms Blockchain : A distributed ledger technology that records transaction information about a cryptocurrency in a chronological order.