What are the advantages of placing limit orders instead of market orders for bid and ask prices in cryptocurrency trading?

1 answers

• May 02, 2022 · 3 years ago
  At BYDFi, we highly recommend placing limit orders instead of market orders for bid and ask prices in cryptocurrency trading. Limit orders allow you to set a specific price at which you want to buy or sell a cryptocurrency, giving you more control over your trades. This can be particularly useful in volatile markets, where sudden price changes can occur. By setting a limit order, you can ensure that your trade will only execute at your desired price, avoiding any unfavorable price movements. Additionally, limit orders can help you save on transaction fees, as you can wait for the market to reach your specified price before executing the trade. Overall, placing limit orders can help you optimize your trading strategy and achieve better results in cryptocurrency trading.
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