How does GTC order work in cryptocurrency exchanges?

3 answers

• May 02, 2022 · 3 years ago
  Sure! The Good 'Til Canceled (GTC) order is a type of order that remains active until it is either executed or canceled by the trader. When you place a GTC order on a cryptocurrency exchange, it means that you want to buy or sell a certain amount of a specific cryptocurrency at a specified price. The order will stay in the order book until it is filled or manually canceled by you. This type of order is useful for traders who want to set specific buying or selling prices and are willing to wait for the market to reach those prices.
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• May 02, 2022 · 3 years ago
  The GTC order is a popular choice among cryptocurrency traders because it allows them to set their desired price levels without constantly monitoring the market. It gives traders more flexibility and control over their trading strategies. However, it's important to note that GTC orders may not be executed immediately, especially if the specified price is far from the current market price. Traders should consider the potential risks and market conditions before placing GTC orders.
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• May 02, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, also supports GTC orders. When you place a GTC order on BYDFi, it will be added to the order book and remain active until it is filled or canceled. BYDFi provides a user-friendly interface for placing and managing GTC orders, making it convenient for traders to set their desired buying or selling prices. Remember to review and adjust your GTC orders regularly to adapt to changing market conditions.
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