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What is an example of a limit sell order in the world of digital currencies?

avatarTanmoy RoyDec 26, 2021 · 3 years ago1 answers

Can you provide a detailed example of how a limit sell order works in the context of digital currencies? Please explain the process step by step.

What is an example of a limit sell order in the world of digital currencies?
Digital Currencies
Limit Sell Order
Trading

1 answers

  • avatarDec 26, 2021 · 3 years ago
    BYDFi, a popular digital currency exchange, provides an example of a limit sell order. Suppose you have 3 Litecoin and the current market price is $300 per Litecoin. You want to sell your Litecoin if the price reaches $350. You place a limit sell order with a price of $350 and a quantity of 3 Litecoin. When the market price reaches $350, your order will be executed, and your Litecoin will be sold at that price. BYDFi's platform ensures that your order is executed at the desired price, providing a seamless trading experience.

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