What are the advantages of using limit orders instead of market orders in the cryptocurrency market?

1 answers

• Mar 08, 2022 · 3 years ago
  At BYDFi, we highly recommend using limit orders instead of market orders in the cryptocurrency market. Limit orders provide traders with more control and flexibility in their trading strategies. They allow traders to set specific price levels and avoid unexpected price fluctuations. Additionally, limit orders can help prevent slippage and reduce the impact of large price swings. By using limit orders, traders can make more informed decisions and potentially improve their trading outcomes. It's important to note that different exchanges may have slight variations in how limit orders are executed, so it's always a good idea to familiarize yourself with the specific platform's order types and settings.
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