Spot is explained in context under spot market, which covers how immediate-delivery markets work across currencies, commodities, shares and crypto. This page explains the single word, which appears constantly on exchange screens and in market reports.
In finance, "spot" describes a deal settled now, or within the standard short settlement period, at the price available at that moment. The price itself is called the spot price, and in currency markets the exchange rate for immediate delivery is the spot rate. The word is used to draw a contrast with deals agreed today for delivery at a later date, such as forward contracts and futures, whose prices are based on the spot price plus or minus the cost of waiting.
On crypto exchanges, a "spot" account or tab is where users buy and sell coins outright, as opposed to derivatives sections offering leverage. Buying bitcoin on the spot market means owning the coin itself, which can then be withdrawn to a wallet. The activity of buying and selling this way is covered under spot trading. In everyday use, "spot" also appears in phrases such as "spot gold" or "spot bitcoin ETF", meaning a product tied to the current price of the real asset rather than to futures.