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What is a limit order?

A limit order is an instruction to buy or sell a cryptocurrency at a price you specify or better.

For example, if you place a limit order to buy one Ethereum (ETH) with a limit price of €3.000, your order would only be executed if the current market price is at €3.000 or lower. The same would occur if you place a limit order to sell your Ethereum at a limit price of €3.200. Then, the order would be executed automatically once this limit price is reached.

Pros and Cons

The main advantage of limit orders is that you can seize market opportunities by trading automatically and thus save time while having more control over your investment strategy.

Limits orders can have different validities. On our platform, you can choose between three validities: Good Till Cancelled (GTC), End of day, or custom date. GTC is the default when you place a limit order. This means that your order will remain open on the market until it is executed, or until you cancel it.

On the flipside, limit orders do not come with an execution guarantee if the specified price is not reached or the quantity is not (fully) available in the order book. An order book is an electronic list of buy and sell orders for a cryptocurrency organized by price levels. Therefore, we always recommend you to actively monitor your open orders.

You can easily select limit orders on both our desktop and mobile platforms in our newly designed order window.

Updated on: 30/05/2024

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