How does a market order differ from a limit order on Binance?

3 answers

• Dec 26, 2021 · 3 years ago
  A market order is an order to buy or sell a cryptocurrency at the current market price. When you place a market order on Binance, it will be executed immediately at the best available price. This means that you may not get the exact price you see on the screen, especially during times of high volatility. Market orders are typically used when you want to buy or sell a cryptocurrency quickly and are not concerned about the exact price.
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• Dec 26, 2021 · 3 years ago
  On the other hand, a limit order is an order to buy or sell a cryptocurrency at a specific price or better. When you place a limit order on Binance, it will only be executed if the market price reaches your specified price. If the market price does not reach your specified price, your order will remain open until it is either canceled or the market price reaches your specified price. Limit orders are typically used when you want to buy or sell a cryptocurrency at a specific price and are willing to wait for the market to reach that price.
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• Dec 26, 2021 · 3 years ago
  BYDFi, a digital currency exchange, offers both market and limit orders. With a market order, you can quickly buy or sell cryptocurrencies at the current market price. This type of order is great for traders who want to execute their trades immediately. On the other hand, a limit order allows you to set a specific price at which you want to buy or sell a cryptocurrency. This type of order is useful if you have a target price in mind and are willing to wait for the market to reach that price. Both market and limit orders have their advantages and disadvantages, so it's important to understand how they work before placing your trades.
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