What is the difference between a limit order and a stop limit order in cryptocurrency trading?

1 answers

• May 07, 2022 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers both limit orders and stop limit orders to its users. With a limit order, you can set the price at which you want to buy or sell a cryptocurrency. This gives you more control over the execution price. On the other hand, a stop limit order allows you to set a stop price and a limit price. When the stop price is reached, the order becomes a limit order and is executed at the limit price or better. This order type is useful for managing risk and protecting profits. It ensures that your order is executed at a specific price or better, but there is a possibility that the order may not be filled if the market moves quickly.
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