🔶 A Spot Market is a market where you can trade assets with other traders in real-time. As the name suggests, transactions are settled immediately or "on the spot" as soon as the buying/selling order is filled. As a buyer, you can purchase an asset with fiat or another cryptocurrency from a seller. More often than not, the delivery of the is immediate. But sometimes, it also depends on the asset being traded.⁣ ⁣ ➡️ Three essential components of every spot market are as follows:⁣ ⁣ - A buyer⁣ ⁣ - A seller⁣ ⁣ - An order book