Please note that each exchange has its own phrase for its wallets and sometimes for its markets. Generally, there are two markets in which you will end up trading with Cornix - Spot and Futures.

Spot VS Futures

Cryptocurrency Spot trading is the process of buying and selling digital assets such as Bitcoin and Ethereum for immediate delivery. In other words, cryptocurrencies are directly transferred between market participants (buyers and sellers).

In the Futures markets, you are trading contracts that represent the value of a specific cryptocurrency. When you purchase a futures contract, you do not own the underlying assets. Instead, you own a contract with an agreement to buy or sell a specific cryptocurrency.

Depending on the exchange, sometimes there will be different wallets for different markets and sometimes it can have the same wallet.

For more information about each exchange markets and the funds required in each wallet:


Binance:

Spot

In order to trade in the spot market, you need to make sure that you transfer funds to the 'Fiat and Spot' wallet. Here you will be able to trade with USDT and additional cryptocurrencies such as BTC, ETH, XRP, and so on, depending on the pair you want to trade with.

Futures

  • USDⓈ-M Futures - USDⓈ-Margined contracts are linear futures quoted and settled in USDT stable coin. As an example, you will be able to purchase contracts such as BTC with USDT.

  • COIN-M Futures - Crypto futures contracts that are settled and collateralized in their based cryptocurrency such as BTC, ETH, XRP, and so on. As an example, a symbol that you would see would be 'BTCUSD'. This contract can be purchased using its based cryptocurrency which in this case would be BTC (Bitcoin).


ByBit:

Futures

In order to trade here, you will need to fund the 'Derivatives Account'.

  • USDT Perpetual - USDT perpetual contract is a linear contract. The margin used for a linear contract is USDT. As an example, you will be able to purchase contracts such as BTC with USDT.

  • Inverse Perpetual - The Inverse perpetual contracts use BTC, ETH, and XRP as the base currency. As an example, a symbol that you would see would be 'BTCUSD'. This contract can be purchased using its based cryptocurrency which in this case would be BTC (Bitcoin).


KuCoin:

Spot

In order to trade in the spot market, you need to make sure that you transfer funds to the 'Trading Account' wallet. Here you will be able to trade with USDT and additional cryptocurrencies such as BTC, ETH, XRP, and so on.


Huobi:

Spot

In order to trade in the spot market, you need to make sure that you transfer funds to the 'Spot Account' wallet. Here you will be able to trade with USDT and additional cryptocurrencies such as BTC, ETH, XRP, and so on.


FTX:

Spot and Future

On FTX you can fund the same wallet for both Futures and Spot trading. There is no need to hold a certain coin in order to open a trade on FTX, no matter what coins you have, the exchange will convert it and use it for the pair\contract you are trading on. In order to trade on spot and future, you need to fund the main 'Wallet' >> 'Balances'.

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