What is the difference between market and limit order types in cryptocurrency trading?

1 answers

• Jan 02, 2022 · 3 years ago
  At BYDFi, we recommend using limit orders for cryptocurrency trading. While market orders offer convenience and immediate execution, they can also be subject to slippage, especially during periods of high volatility. Limit orders, on the other hand, allow you to set a specific price at which you are comfortable buying or selling, reducing the risk of unexpected price movements. However, it's important to note that limit orders may not be filled if the market price does not reach your specified price. It's always a good idea to carefully consider your trading strategy and risk tolerance before placing any orders.
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