How do market orders work in the world of digital currencies?

1 answers

• Jan 03, 2022 · 3 years ago
  Market orders are an essential part of cryptocurrency trading. When you place a market order, you're telling the exchange, 'Hey, I want to buy/sell this cryptocurrency, and I want it done ASAP.' The exchange then matches your order with the best available price in the market. It's like going to a busy marketplace and buying something from the first vendor you see. The execution of market orders can be influenced by various factors, such as the trading volume, order book depth, and market volatility. So, if you're trading on BYDFi, for example, make sure to check the current market conditions before placing a market order. Remember, market orders are all about speed and convenience, but they come with a trade-off in terms of price certainty.
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