A Guide to Trading on GalaxyCoin
Published: 2024-05-08 05:58:10

A Guide to Trading on GalaxyCoin
GalaxyCoin exchange provides users with dozens of trading tools. Here, we introduce three fundamental principles that every trader should be aware of:

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Spot Trading
As mentioned above, cryptocurrency spot trading refers to the process of buying and selling cryptocurrencies at real-time prices to generate trading profits.
Spot traders on the GalaxyCoin exchange typically engage in buying and selling a range of cryptocurrencies over short periods (hours or a day) to generate periodic short-term profits. On the other hand, in the GalaxyCoin application, this often involves holding crypto assets for the medium to long term.
Please read our help center articles to learn more about how spot trading works on the exchange.
Margin Trading
Margin trading involves trading financial assets using funds borrowed from a broker. This constitutes collateral for the broker's loan. On GalaxyCoin exchange, the margin is the difference between the total asset value and the loan amount.
A margin account is a standard brokerage account that allows traders to use their liquid assets as collateral for loans. The leverage provided by margin trading can amplify both profits and losses.
For example, if the margin is 0.1 BTC, but the trading value based on that margin is 1 BTC (i.e., 10x leverage), a 5% market movement in either direction will result in a profit or loss of 0.05 BTC (50% of the margin value).
Refer to our help center articles for detailed information on margin trading on the GalaxyCoin exchange and supported trading pairs.
Limit Orders and Market Orders
Market Orders are trades executed immediately at the current market price. Limit Orders set the highest or lowest price at which a trader is willing to complete a trade, emphasizing execution speed or a specific price point.
Limit Orders:
Limit orders are placed on the exchange at a specific limit price. The limit price determines the highest or lowest price at which a user wants to trade. When the market price reaches or exceeds the limit price, the order will be executed.
Limit orders can be filled at different prices to meet the order amount.
A sell limit order will be executed when the market price equals or exceeds the limit.
A buy limit order will be executed when the market price equals or falls below the limit.
Market Orders:
Buy/Sell Market orders are executed immediately at the best available price. This means market orders will accept any unfilled orders on the exchange order book to execute. Market orders may fill at different prices to meet the order amount.
Market orders are executed immediately at the best available market price, with any unfilled portion automatically canceled. Market orders always incur taker fees, which are fees generated by executed orders that remove liquidity from the exchange.
Conclusion:
These are the basics of GalaxyCoin exchange for beginners, including trading, cryptocurrency pairs, and essential functions required to execute trades on the exchange. For more tools offered by GalaxyCoinExchange, watch our videos on our YouTube channel, which provide tips and step-by-step guides from the GalaxyCoin help center.
Conduct thorough research and do your own due diligence.
The examples listed in this article are for reference only. You should not interpret any such information or other materials as legal, tax, investment, financial, or other advice. None of the content included in this article constitutes solicitation, recommendation, or an offer by GalaxyCoin to invest, purchase, or sell any digital assets. Returns from buying and selling digital assets may require you to pay taxes in your jurisdiction, including capital gains tax.
Any description of GalaxyCoin products or features is for illustrative purposes only and does not constitute an endorsement, invitation, or solicitation. Furthermore, the products and services on GalaxyCoin exchange differ from the main GalaxyCoin application, and the availability of products and services on the GalaxyCoin exchange is subject to jurisdictional restrictions. Before accessing the GalaxyCoin exchange, refer to the links provided and ensure you are not in a geographic jurisdiction with limitations on spot trading, margin trading, derivatives trading, and lending.
Past performance is not indicative of future results. The value of digital assets may decrease or increase, and you may lose some or all of your purchase. When evaluating digital assets, you must research and conduct due diligence to make informed decisions as any purchases are your responsibility.