How does a stop order work in the context of digital currencies?

1 answers

• May 08, 2022 · 3 years ago
  At BYDFi, we understand the importance of risk management in cryptocurrency trading. That's why we offer a wide range of order types, including stop orders, to help our users protect their investments. With a stop order, you can set a specific price at which you want to buy or sell a digital currency. Once the market price reaches the stop price, your order will be executed automatically. This allows you to limit potential losses and lock in profits, even if you're not actively monitoring the market. Whether you're a beginner or an experienced trader, our platform provides the tools you need to trade with confidence and manage risk effectively.
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