How does the 'market on close' order type work in the cryptocurrency market?

3 answers

• Dec 25, 2021 · 3 years ago
  The 'market on close' order type in the cryptocurrency market allows traders to execute their trades at the closing price of the trading day. This order type is particularly useful for investors who want to take advantage of the price movements that occur at the end of the trading day. By placing a 'market on close' order, traders can ensure that their trades are executed at the prevailing market price, regardless of any price fluctuations that may occur during the day. However, it's important to note that the execution of 'market on close' orders is not guaranteed, as the final price may differ from the closing price due to market volatility.
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• Dec 25, 2021 · 3 years ago
  The 'market on close' order type is a popular choice among cryptocurrency traders who want to avoid the potential risks associated with placing orders during regular trading hours. By placing a 'market on close' order, traders can avoid the impact of sudden price movements that often occur during the day. This order type allows traders to take advantage of the closing price, which is often considered a more stable and reliable price point. However, it's important to note that the execution of 'market on close' orders is subject to market liquidity, and there may be instances where the order is not filled completely or at the desired price.
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• Dec 25, 2021 · 3 years ago
  The 'market on close' order type is a feature offered by BYDFi, a leading cryptocurrency exchange. With this order type, traders can place orders to buy or sell cryptocurrencies at the closing price of the trading day. This allows traders to take advantage of the price movements that occur at the end of the day, without having to actively monitor the market throughout the day. However, it's important to note that the execution of 'market on close' orders is subject to market conditions, and there may be instances where the order is not filled completely or at the desired price. Traders should carefully consider their trading strategy and risk tolerance before using this order type.
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