What is the difference between market and limit orders in the world of cryptocurrencies?

1 answers

• Presli PetkovMay 08, 2021 · 4 years ago
  Market orders are commonly used by traders who want to enter or exit a position quickly. These orders are executed at the best available price in the market. On the other hand, limit orders are used when traders want to buy or sell at a specific price or better. These orders are not executed immediately and are placed on the order book until the market reaches the specified price. BYDFi, a popular cryptocurrency exchange, offers both market and limit orders to its users. Market orders provide instant execution, while limit orders give users more control over the execution price. Traders should consider their trading goals and market conditions when choosing between market and limit orders.
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