2022-12-2810 minutes

What is the difference between Convert and Spot Trade?

It's hard for beginner traders to choose where and how to buy the desired cryptocurrency, use the traditional Spot Trade function, or try the new Convert functionality.

What is Spot Trading?

While using the famous Spot Trade on Cryptal or on any other trading platform, you engage with other traders like yourself.
Let's say a user wants to buy Bitcoin on Spot Trade, He or She has to place a bid for the desired amount of Crypto and also include, what price range the user is ready to Purchase or Sell the asset.
So basically you are buying or selling Bitcoin from or to users just like you. On Spot Trading there are several aspects to consider which are solely for experienced Traders:

What is Convert?

While using the Convert functionality on Cryptal, you are buying Crypto directly from the Exchange, without intervening with other traders.

For Example, if you want to acquire USDT you just access the Convert and write how much USDT you want to buy, that's all!
The desired asset will be instantly accrued into your Ethereum Wallet.

This function is dedicated for beginners or the ones who want to get their crypto instantly without delay.

How to use Convert?

Trading Essential - Convert and Spot Trade

While trading crypto on Cryptal, a user has the opportunity to buy or sell crypto using two easy ways.

Both ways - be it Convert or Spot Trade - have their benefits or disadvantages.
If you are aiming for lower fees and better prices on crypto, you should use the potential of Spot Trade with high liquidity, meaning getting the desired crypto quickly and finding the match for your order easily.

But if you are willing to use the way that is the easiest on the market and get your Crypto into your Digital Wallet in seconds, then the Convert is the way you are looking for!

Now you know the trading essentials and the difference between Convert and Spot Trading, it's time for you to Start Trading on Cryptal.