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In the spot market, you buy and sell cryptocurrencies such as Bitcoin and Ethereum for immediate delivery. In other words, cryptocurrencies are directly transferred between market participants (buyers and sellers). In a spot market, you have direct ownership of cryptocurrencies and are entitled to economic benefits, such as voting for major forks or staking participation.

A stop-limit order is a limit order that has a stop price. When the stop price is reached, it triggers the limit order. The limit price is the specific price of the limit order the stop price triggers.

A spot trade is a simple transaction between a buyer and a seller to trade at the current market rate, known as the spot price. The trade takes place immediately when the order is fulfilled.