How do pending orders work in the world of digital currencies?

3 answers

• Jan 09, 2022 · 3 years ago
  Pending orders in the world of digital currencies are a way for traders to set specific conditions for buying or selling assets. When a pending order is placed, it is not executed immediately but is stored on the exchange's order book until the specified conditions are met. For example, a trader can set a buy limit order at a certain price, and if the market reaches that price, the order will be executed. This allows traders to automate their trading strategies and take advantage of market movements even when they are not actively monitoring the market.
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• Jan 09, 2022 · 3 years ago
  Pending orders are like setting a reminder for yourself to buy or sell a digital currency at a specific price. It's a way to take advantage of potential price movements without having to constantly monitor the market. For example, if you believe that the price of a certain cryptocurrency will drop to a certain level before going up again, you can set a sell limit order at that price. If the price reaches that level, your order will be executed automatically. It's a useful tool for both experienced traders and beginners who want to take a more hands-off approach to trading.
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• Jan 09, 2022 · 3 years ago
  At BYDFi, pending orders work similarly to other exchanges. When you place a pending order, it will be stored on the order book until the specified conditions are met. This allows you to set your desired buy or sell price and let the market do the rest. It's a convenient feature for traders who want to take advantage of market opportunities without constantly monitoring the market. Just make sure to set realistic conditions and be aware of the potential risks involved in trading digital currencies.
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