The Singapore-based and licensed crypto exchange Fairdesk, which previously offered contract trading, is now launching spot trading to fulfill the needs of the market.

About Fairdesk

Fairdesk is a leading centralized cryptocurrency exchange specializing in derivatives products. 

Founded in 2021 by former Binance executives and software architects from Morgan Stanley, Fairdesk holds a Money Services Business license from Canada and the United States. It is registered as a Virtual Asset Service Provider with Lithuania’s designated authority. As a fast-growing financial service institution, Fairdesk has strategic partnerships in Russia, Turkey and South Korea.

What is spot trading?

A spot trade refers to the purchase or sale of a foreign currency, financial instrument, or commodity for instant delivery on a specified spot date. 

Starting June 30, 2022, Fairdesk allows users to buy and sell cryptocurrencies in the spot market. It has spot-trading pairs for Bitcoin (BTC), Ether (ETH), Litecoin (LTC), Tron (TRX), and BNB (BNB) and plans to add more based on traders’ interests.

The new spot-trading functionality can complement the needs of low-risk traders. Compared to derivatives trading, spot trading is more secure to hold and trade at longer periods. Traders can now manage their portfolios with risks and profits comfortably. 

Fairdesk offers spot-trading to users at this particular time because the market is experiencing a downturn. 

“We are giving out benefits to our spot traders to help them ride the waves and benefit from the market downtrend,” said Jacky Choi, co-founder of Fairdesk. 

For regular traders, market-maker and -taker fees are currently as low as 0.1%. Users will get trading-fee discounts as they level up their VIP status.