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Types of orders of crypto-exchange

An order is the main instrument used by traders on the exchange. It is with its help that the sale and purchase of crypto currency is carried out. In this article we will consider the main orders of crypto-exchanges.

LIMIT ORDER
This order is considered basic and all beginners start with it. Its main feature is that you can specify not only the volume of sold/bought coins, but also their desired value. It is very advantageous if the market is expected to rise or fall sharply. For example, one of the analysts predicted that at night BTC will give an instant growth from 10 thousand dollars to 15 thousand dollars. Then you need to place an order with the desired price of 15 thousand dollars, and as soon as this figure is reached, the exchange will automatically conduct the transaction.

MARKET ORDER
This type of orders is often used by those who want to quickly make a purchase or sale of cryptocurrency. The essence of it is that you put the coins at the market price. Thus, the transaction is carried out instantly. When setting up buy/sell, you specify only the amount of coins.

STOP MARKET
Such orders on exchanges are considered to be the most significant for traders. They are used by almost everyone, as they allow you to protect yourself from sharp drops in the exchange rate and provide profitable deals when lifting. The essence of such an order is that you can set a lower limit for sale or an upper limit for purchase.

For example, if another fork is expected, there is every chance that the BTC price will rise for a short period of time. If the current rate is 5 thousand dollars, the order is set at 6-7 thousand dollars and sell. When this indicator is reached, the trade will be closed as Market Order. The same is true for sell orders.

STOP-LIMIT
This order is very similar to the stop market. Only has one essential difference-the stop market carries out the transaction on achievement of a certain market