How does the GTC order type work in the context of cryptocurrency trading?

3 answers

• Mar 19, 2022 · 3 years ago
  Sure! The GTC order type in cryptocurrency trading allows you to place an order that remains active until it is either executed or canceled. This means that your order will stay in the order book until it is filled or manually canceled by you. It is a convenient option for traders who want to set up long-term positions or execute trades at specific price levels. Unlike other order types, such as market orders or limit orders, GTC orders do not have an expiration date and can remain open indefinitely.
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• Mar 19, 2022 · 3 years ago
  GTC orders are commonly used by traders who want to buy or sell cryptocurrencies at a specific price point. For example, if you believe that the price of Bitcoin will drop to a certain level before rebounding, you can place a GTC sell order at that price. If the market reaches your desired price, your order will be executed. On the other hand, if you want to buy Bitcoin at a lower price, you can place a GTC buy order at that price. GTC orders give you more control over your trading strategy and allow you to take advantage of market movements.
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• Mar 19, 2022 · 3 years ago
  In the context of cryptocurrency trading, BYDFi offers the GTC order type as one of its trading options. With a GTC order on BYDFi, you can set your desired price and quantity for buying or selling cryptocurrencies. The order will remain active until it is filled or canceled by you. This gives you the flexibility to execute trades based on your own strategy and time frame. Keep in mind that GTC orders are subject to market conditions and may not be executed immediately if the price does not reach your specified level.
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