What does limit mean in cryptocurrency trading?

3 answers

• Dec 28, 2021 · 3 years ago
  In cryptocurrency trading, a limit order is an instruction to buy or sell a digital asset at a specific price or better. It allows traders to set the maximum price they are willing to pay for a buy order or the minimum price they are willing to accept for a sell order. When the market reaches the specified price, the limit order is executed. This type of order provides traders with more control over their trades and helps them avoid unexpected price fluctuations. It is important because it allows traders to enter or exit positions at desired prices, even when they are not actively monitoring the market.
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• Dec 28, 2021 · 3 years ago
  Limit orders are like setting a price target for your trades. Let's say you want to buy Bitcoin at $10,000, but the current market price is $11,000. By placing a limit order, you can wait for the price to drop to your desired level. Once the market reaches $10,000, your order will be executed automatically. This way, you don't have to constantly watch the market and can take advantage of price movements even when you're not actively trading.
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• Dec 28, 2021 · 3 years ago
  At BYDFi, we also offer limit orders for cryptocurrency trading. With a limit order, you can set your desired price and let the system execute the trade for you when the market reaches that price. It's a convenient feature that allows you to take advantage of market opportunities without constantly monitoring the prices. Whether you're a beginner or an experienced trader, using limit orders can help you optimize your trading strategy and improve your overall performance.
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