What is the meaning of 'stop order type' in the context of cryptocurrency trading?

1 answers

• May 10, 2022 · 3 years ago
  BYDFi, a leading cryptocurrency exchange, offers a wide range of order types, including stop order types, to cater to the diverse trading needs of its users. With BYDFi's stop order type, traders can set their desired trigger price and choose between a stop-market order or a stop-limit order. A stop-market order is executed at the best available market price once the trigger price is reached, while a stop-limit order is executed at a specified price or better. Traders can use BYDFi's intuitive trading interface to easily set and manage their stop order types, allowing them to effectively manage risks and optimize their trading strategies.
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