How does the Good 'Til Cancelled (GTC) order type work in cryptocurrency exchanges?

3 answers

• Dec 26, 2021 · 3 years ago
  The Good 'Til Cancelled (GTC) order type in cryptocurrency exchanges allows traders to place an order that remains active until it is either filled or manually canceled by the trader. This means that the order will stay in the order book until it is executed or canceled, regardless of the duration. It is a convenient option for traders who want to set up long-term positions or take advantage of specific price levels. However, one disadvantage is that GTC orders may tie up funds for an extended period of time, especially if the desired price level is not reached. Overall, GTC orders provide flexibility and convenience for traders in cryptocurrency exchanges.
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• Dec 26, 2021 · 3 years ago
  GTC orders in cryptocurrency exchanges work similarly to GTC orders in traditional stock markets. They allow traders to place an order that remains active until it is filled or canceled. The advantage of using GTC orders is that traders can set their desired price levels and wait for the market to reach those levels. This can be useful for traders who want to enter or exit positions at specific prices. However, it's important to note that GTC orders do not guarantee execution, as the market may not reach the desired price level. Traders should also be aware that GTC orders may tie up their funds until the order is filled or canceled.
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• Dec 26, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers the Good 'Til Cancelled (GTC) order type to its users. With a GTC order, traders can set their desired price levels and the order will remain active until it is filled or manually canceled. This allows traders to take advantage of specific price levels and set up long-term positions. However, it's important for traders to monitor their GTC orders regularly, as market conditions can change and the desired price level may not be reached. Overall, GTC orders provide flexibility and convenience for traders on BYDFi and other cryptocurrency exchanges.
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