How does the market order differ from the limit order when trading cryptocurrencies?

1 answers

• Dec 27, 2021 · 3 years ago
  In the context of BYDFi, a market order is a type of order that can be placed on the BYDFi platform to buy or sell cryptocurrencies at the current market price. It provides immediate execution and ensures that the order will be filled, but the execution price may vary. On the other hand, a limit order is an order to buy or sell cryptocurrencies at a specific price or better. It allows traders to set a specific price at which they want to buy or sell and provides more control over the execution price. Traders can choose between market orders and limit orders based on their trading preferences and goals. It's important to note that the execution of market orders and limit orders on BYDFi is subject to market liquidity and other factors that may affect order execution.
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