What is a stop limit order on Coinbase?

3 answers

• Dec 26, 2021 · 3 years ago
  A stop limit order on Coinbase is a type of order that allows you to set a specific price at which you want to buy or sell a cryptocurrency. It consists of two parts: the stop price and the limit price. When the stop price is reached, the order is triggered and a limit order is placed at the limit price. This means that the order will only be executed at the limit price or better. It's a useful tool for managing risk and protecting your investments.
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• Dec 26, 2021 · 3 years ago
  Sure! A stop limit order on Coinbase is like having a safety net for your trades. Let's say you want to buy Bitcoin, but you're waiting for the price to drop to a certain level. You can set a stop price, which is the price at which you want the order to be triggered. Once the stop price is reached, a limit order is placed at the limit price you specified. This ensures that you only buy Bitcoin at or below your desired price. It's a great way to automate your trading strategy and avoid emotional decision-making.
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• Dec 26, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers stop limit orders as well. With a stop limit order on BYDFi, you can set a stop price and a limit price, just like on Coinbase. When the stop price is reached, a limit order is placed at the limit price. This allows you to buy or sell a cryptocurrency at a specific price or better. It's a powerful tool for traders who want to take advantage of price movements and protect their positions. Give it a try on BYDFi and see how it can enhance your trading experience!
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