Basic Knowledge for New Users

1. What is spot trading?

Spot trading refers to the trading of a kind of digital asset to another kind of digital asset.  In other word, it takes one digital asset asset as calculation unit to buy another digital asset. 

2. What is trading pair?

Trading pair refers to two kinds of digital asset that are exchangable. For example, BTC/USDT trading pair means USDT can be used to buy BTC, while BTC can be selled into USDT. 

3. What is maker and taker?

Maker refers to the users who place order that will not be traded at once. The order placed will be displayed on the order book to increase the trading depth of the trading pair. 

Taker refers to the users who place order that will be traded immediately that will not be displayed on the order book, so it will decrease the trading depth. 

4. What is the trading fee rate?

The trading fee rate for both maker and taker is 0.2% in spot trading. User can use MX token to deduct trading fee to enjoy 20% discount. 

Visit My Assets -> Use MX to deduct trading fee to enjoy 20% discount

The real time price of MX will be used to deduct trading fee. 

After you open the feature, the system will first deduct the trading fee by MX token. When your MX token balance is insufficient to pay the trading fee, the system will resume the default trading fee rate (0.2%).

5. What is the minimum trading amount for different cryptocurrencies?

Cryptocurrency in USDT pairs: 5 USDT/order

Cryptocurrency in ETH pairs: 0.01 ETH/order

Cryptocurrency in BTC pairs: 0.0005 BTC/order

Cryptocurrency in EOS pairs: 1 EOS/order

Cryptocurrency in MX pairs: 50 MX/order