How to buy spot on Dubai OKX Exchange

To buy spot on Dubai OKX Exchange, create an account, verify your identity, fund your account, navigate to the spot market, select the currency pair, choose the order type, enter the order details, and confirm the order.

Oct 19, 2024 at 09:17 pm

How to Buy Spot on Dubai OKX Exchange

OKX is a renowned cryptocurrency exchange that offers a wide range of spot trading services. The spot market allows traders to buy and sell cryptocurrencies at the current market price. Here's a step-by-step guide on how to buy spot on Dubai OKX Exchange:

1. Create an Account
Visit the Dubai OKX website and click on the "Sign Up" button. Enter your email address, create a password, and complete the registration process.

2. Verify Your Identity
To comply with regulatory requirements, you'll need to verify your identity by submitting a copy of your passport or national ID card. Follow the instructions provided by OKX to complete this process.

3. Fund Your Account
You can fund your OKX account in several ways, including bank transfer, credit/debit card, or cryptocurrency deposit. Choose the method that best suits you and follow the on-screen instructions.

4. Go to the Spot Market
Once your account is funded, click on the "Markets" tab at the top of the page and select "Spot." This will take you to the spot trading page.

5. Find the Currency Pair
In the search bar, enter the currency pair you want to trade. For example, if you want to buy Bitcoin with USDT, enter "BTC/USDT."

6. Select Order Type
On the right-hand side, you'll see different order types. Choose the order type that suits your trading strategy. The most common order types are:

• Market Order: Buys or sells the asset immediately at the current market price.
• Limit Order: Places an order to buy or sell at a specific price or better.
• Stop-Limit Order: Combines a stop order (triggers when a price is reached) with a limit order (specifies the price to buy or sell).

7. Enter Order Details
Enter the amount of the asset you want to buy or sell. You can also set the price and any other parameters for the order.

8. Preview and Confirm Order
Review all the details of your order, including the order type, amount, price, and fees. Once you're satisfied with the order, click on the "Buy" or "Sell" button.

Your spot order will now be placed on the exchange. You can monitor the status of your order in the "Orders" section of your account.