What are the differences between a limit sell order and a market sell order in the world of digital currencies?

3 answers

• May 12, 2022 · 3 years ago
  A limit sell order is an order placed by a trader to sell a digital currency at a specific price or better. It allows the trader to set a minimum price at which they are willing to sell their digital currency. This type of order provides more control over the selling price, but there is a risk that the order may not be executed if the market price does not reach the specified limit price.
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• May 12, 2022 · 3 years ago
  On the other hand, a market sell order is an order placed by a trader to sell a digital currency at the current market price. This type of order guarantees that the order will be executed immediately, but the selling price may be lower than the desired price. Market sell orders are often used when the trader wants to sell their digital currency quickly and is not concerned about getting the best possible price.
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• May 12, 2022 · 3 years ago
  At BYDFi, we recommend using limit sell orders when you want to have more control over the selling price and are willing to wait for the market to reach your desired price. However, if you need to sell your digital currency quickly, a market sell order may be more suitable. It's important to consider your trading goals and risk tolerance when choosing between these two types of orders.
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