How are you all? Today I will discuss with you Types of spot market !  I am young and have very little experience so please excuse any mistakes.

[Source](https://pixabay.com/illustrations/bitcoin-binary-one-zero-coin-503581/)

Types of Spot Markets.
There are two types of spot market.  They include market exchanges and over-the-counter.
1. Over the Counter: A meeting place of buyers and sellers to conduct bilateral trade.  There is no central exchange or third party to oversee and monitor a transaction.
2. Market Exchange: Place where buyers and sellers meet to offer and bid for various financial instruments and products.  Trading takes place on an electronic trading platform or a trading floor.
Exchange Market vs. Over the Counter (OTC)
Spot market, i.e. foreign exchange market, open market.  However, not all spot trading takes place on centralized exchanges such as marketplaces.  Over-the-counter (OTC) spot trading is a type of spot transaction that takes place directly between buyers and sellers.  Unlike other markets, OTC trading is decentralized.  The major differences between exchange and OTC markets are as follows.
In over-the-counter trading, securities are exchanged without performing any official duties, which is the main difference between OTC and exchange trading.  An exchange is a commodity trading market that uses a centralized system to ensure fair transactions.
OTC trading takes place with the help of an intermediary called a dealer.  However, an exchange is a formal network where traders adhere to various rules and standards.
Here is a table summarizing the differences between the exchange market and over-the-counter.
Today's discussion ends here.  I hope you find it interesting and able to understand.  Share your thoughts on today's topic.  Wishes and blessings to all.  Everyone stay well stay healthy stay with Steemit.