Phemex is a cryptocurrency exchange where you can trade cryptocurrencies.
There are over 140 USDT-margined contract trading pairs and up to 100x leverage.
The platform utilizes Web3 technologies like Soulbound tokens and DAO governance.
You can also earn free crypto by doing the “Learn & Earn” quizzes.
Sign up for Phemex using this link or use “J76LS5” as the invitation code to earn free 2,550 Phemex tokens.
In this guide, you’ll learn how to spot trade on Phemex quiz answers for “Learn & Earn” to earn $0.80 in USDT.
How to Spot Trade on Phemex Quiz Answers
Question: Spot trading refers to:
Answer: B. Transactions that settle on the spot
Question: On Phemex, what markets can you spot trade on?
Answer: C. Spot Markets
Question: If you Spot Trade USDT for BTC, how long would it take for your BTC to be available in your wallet?
Answer: A. Instantly Available
Question: Which one of these is NOT a type of spot order available on Phemex?
Answer: B. Stock
Question: A limit order allows you to set the _____ _____ at which you wish to buy or sell a target token.
Answer: limit price
Question: Once you’re on the spot trading page, what order type is already selected by default?
Answer: A. Limit
Question: In what field can you enter your desired limit price?
Answer: D. Price
Question: For a buy order, what happens if your limit price falls within the ask portion of the orderbook (orders in red)?
Answer: B. Order will automatically be filled at the best available price
Question: For a buy order, what happens if your limit price is set at or below the best bid price in the orderbook (orders in green)?
Answer: A. Order will be added to all the other orders at that price waiting to be filled
Question: For a buy order, what happens if your limit price falls between the best bid and ask prices?
Answer: D. Order will be added to the orderbook as the newest best bid price
Question: If an order is sitting in the orderbook, it will be filled when:
Answer: C. When the price of your crypto reaches your limit price
Question: Once you’re on the spot trading page, to place a market order, you must change the order type to:
Answer: C. Market
Question: A Market order will immediately and automatically:
Answer: C. Fill at the best available market price
Question: For a buy Market order, the best available market price is:
Answer: A. The lowest ask price (in red)
Question: A conditional order allows you to set the conditions to trigger:
Answer: A. Either a limit or a market order
Question: Once you’re on the spot trading page, to place a conditional order, you must change the order type to:
Answer: C. Conditional
Question: If you choose to set the conditions for a limit order, where can you enter the price at which you want your limit order to trigger?
Answer: D. Trigger Price
Question: When setting the conditions for a limit order, the Price field:
Answer: B. Allows you to enter the limit price associated with this limit order
Question: If you choose to set the conditions for a market order, the Limit price field is not available because once the order is triggered, it will be filled at the best available price?
Answer: A. TRUE
Question: Once you have successfully placed a conditional order, where can you see this order?
Answer: D. Under the Conditional Orders tab
