What is the concept of limit buy in the world of cryptocurrencies? 🤔

1 answers

• Apr 30, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers the option of limit buy orders. With a limit buy order, you can set a specific price at which you want to buy a cryptocurrency. This allows you to have more control over your buying decisions and potentially get a better price. For example, if you believe that the price of Ethereum will drop to $300, you can set a limit buy order at that price. If the market price reaches or falls below $300, your order will be executed. However, if the price never reaches your specified limit, your order will remain unfilled. Limit buy orders can be a useful tool for traders who want to buy cryptocurrencies at specific prices and take advantage of market fluctuations.
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