How to Buy and Sell on Binance Spot Trading

Spot trading is the most basic and commonly used trading method on Binance. Simply put, it's "paying money to get goods immediately." You use USDT to buy Bitcoin, and the Bitcoin arrives in your account instantly—this is spot trading. Today, we will explain in detail how to buy and sell spot on Binance. First, make sure you already have an account on the Binance Official Website, and then download the official Binance App to operate. Apple iPhone users should refer to the iOS installation guide to install it.

What is Spot Trading

Spot Trading is the most basic form of cryptocurrency trading. Its characteristics are:

Instant Delivery: The coins you buy arrive in your account immediately, and the coins you sell turn into USDT immediately.
No Leverage: You buy as many coins as the money you have; you do not borrow money to trade.
No Expiration Date: You can hold the purchased coins indefinitely.
Controllable Risk: At most, you lose your principal, and you will never "owe money."

Compared to futures trading, spot trading is much more robust and safe, making it highly suitable for beginners and long-term investors.

Understanding the Binance Spot Trading Interface

Open the Binance App, tap "Trade" at the bottom → "Spot", and you will enter the trading interface. Although the interface has a lot of information, it can be understood by breaking it down into a few areas.

Trading Pair Selection Area

At the very top of the page, you can select the trading pair. For example, "BTC/USDT" means buying or selling Bitcoin using USDT. You can tap it to switch to other trading pairs, such as ETH/USDT, BNB/USDT, etc.

K-Line Chart Area

Most of the middle area is the K-line chart (also called a candlestick chart), which displays the historical price trend of this trading pair.

Green (or red, depending on settings) bars indicate a price increase.
Red (or green) bars indicate a price decrease.
You can switch between different time frames: 1 minute, 5 minutes, 1 hour, 1 day, etc.

For beginners, there is no need to study the K-line chart deeply for now; just knowing that it displays price trends is enough.

Depth Chart / Order Book

Below the K-line chart is usually an "Order Book". It shows all the buy and sell orders currently placed on the market:

Upper half (Red): Sell orders, arranged by price from lowest to highest.
Lower half (Green): Buy orders, arranged by price from highest to lowest.
The middle displays the current latest execution price.

Order Placement Area

The bottom of the page is your order placement area. Here you have "Buy" and "Sell" tabs, as well as different order type options.

Three Common Ways to Place Orders

Market Order

A market order is the simplest way to place an order—it executes immediately at the current market price.

Buying Operation:

Select the "Buy" tab in the order placement area.
Choose "Market" as the order type.
Enter how much USDT you want to spend (or how many coins you want to buy).
Tap the "Buy" button.
It will execute immediately after confirmation.

Selling Operation:

Select the "Sell" tab.
Choose "Market" as the order type.
Enter how many coins you want to sell.
Tap the "Sell" button.
It will execute immediately after confirmation.

Pros: Fast execution speed, ensuring you can buy or sell. Cons: The actual execution price may have a slight deviation from the price you see (known as "slippage"), especially during violent market fluctuations.

Limit Order

A limit order allows you to specify a price, and it will only execute when the market price reaches the price you set.

Buying Operation:

Select the "Buy" tab.
Choose "Limit" as the order type.
Enter your desired buying price in the "Price" field.
Enter the amount you want to buy in the "Amount" field.
The system automatically calculates the total amount.
Tap "Buy".

For example, if the current price of BTC is 65,000 USDT and you think 60,000 is more reasonable, you can place a limit buy order at 60,000. If BTC actually drops to 60,000, your order will automatically execute. If it never drops that low, the order will remain open.

Selling Operation works the same way: Set a selling price you are satisfied with, and wait for the price to rise to that level to automatically sell.

Pros: Can execute at your desired price. Cons: Might never execute (if the price never reaches your set level).

Stop-Limit Order

A stop-limit order is a conditional order that is only submitted to the market after specific trigger conditions are met.

Typical use case—Stop Loss: Suppose you bought BTC at 65,000 USDT, and you don't want to lose too much; you set it to automatically sell if it drops to 60,000.

Select the "Sell" tab.
Choose "Stop-Limit" as the order type.
Set the trigger price to 60,000.
Set the sell price to 59,900 (slightly lower to ensure execution).
Enter the sell amount.
Confirm submission.

When the BTC price drops to 60,000, your limit sell order (at 59,900) will automatically be submitted to the market.

Practical Trading Operation Demo

Scenario 1: Buying BTC with 500 USDT at Market Price

Enter the BTC/USDT spot trading page.
Select "Buy" → "Market".
Enter "500" (USDT) in the amount field.
Tap "Buy BTC".
A confirmation window pops up, showing the estimated purchase amount.
Tap confirm.
The trade is completed, and your spot account receives the corresponding amount of BTC.

Scenario 2: Placing a Limit Order to Buy ETH

Enter the ETH/USDT spot trading page.
Select "Buy" → "Limit".
The current price is 3,500; you set the price to 3,300.
Enter 1 in the amount field (1 ETH).
The total amount automatically displays 3,300 USDT.
Tap "Buy ETH".
The order is placed, waiting to automatically execute when ETH drops to 3,300.

Scenario 3: Selling Your Held Coins

Enter the corresponding trading pair page.
Select "Sell".
Choose a market order or limit order.
Enter the sell amount (you can drag the slider to quickly select 25%, 50%, 75%, 100%).
Confirm the sale.
The USDT arrives in your spot account.

Viewing and Managing Your Orders

Open Orders

At the bottom of the trading page, there is an "Open Orders" tab that shows orders you have placed but have not yet executed. You can cancel unwanted open orders here.

Order History

The "Order History" tab displays records of all your executed and canceled orders. You can view detailed information for each trade, such as the execution price, amount, and fees.

Positions

On the "Wallets" page, you can see all the cryptocurrencies you currently hold, along with their corresponding amounts and valuations.

Spot Trading Fees

The default fee rate for Binance spot trading is 0.1%, charged on both buying and selling.

For example: If you spend 1,000 USDT to buy BTC, the fee is 1,000 × 0.1% = 1 USDT. You actually used 999 USDT to buy BTC, and the other 1 USDT is the fee.

Ways to Reduce Fees

Use BNB for Deductions: Once you enable the BNB fee deduction feature, fees are discounted (currently a 25% discount, i.e., 0.075%).
Increase VIP Level: The higher your trading volume, the higher your VIP level, and the lower the fee rate.
Use Referral Kickbacks: Users who registered through a referral link with kickbacks can enjoy fee rebates.

Frequently Asked Questions (FAQ)

Q1: Is spot trading available 24 hours a day?

Yes, cryptocurrency spot trading is continuous 24 hours a day, 7 days a week, with no market closing times. You can buy or sell at any time you want.

Q2: What is the difference between spot trading and futures trading?

The biggest difference is that spot trading has no leverage. When you spend 1,000 USDT to buy BTC, you physically own 1,000 USDT worth of BTC. Futures trading allows leverage; for example, using 1,000 USDT with 10x leverage is equivalent to trading with 10,000 USDT. Leverage magnifies both profits and risks; beginners are strongly advised not to touch futures.

Q3: Can I cancel a limit order I placed?

Yes. Find the order you want to cancel in "Open Orders" and tap cancel. Unexecuted orders can be canceled without incurring any fees. If the order has partially executed, the executed portion cannot be canceled; you can only cancel the unexecuted portion.

Q4: Why is my placed order not executing?

A limit order will only execute when the market price reaches the price you set. If you place a buy order far below the current price, you need to wait for the price to drop to that level. If the market never drops to that level, the order will remain open indefinitely. You can choose to keep waiting or cancel the order.

Q5: What should I do if I encounter an error during trading?

Common error causes include: insufficient balance, below the minimum trading amount, network delays, etc. First, check if your account balance is sufficient and confirm that the entered amount meets the minimum trading amount requirement. If there is a network issue, wait a moment and try again. If it continues to report an error, contact Binance customer service.