Limit – A Limit order is the one to buy or sell at a specific price level, or lower than specified on a purchase order or higher than specified on a sell order. These are the most common types of orders.
Example 1:
The current price for a BTC is $ 56,500.
We want to buy a BTC for $ 56,000, and we set the order at this price, expecting a Limit price level.
If the price drops by $ 500 (reaching $ 56,000), the purchase will be made.
Please note that we often pay lower transaction fees when using the SELL LIMIT.
Example 2:
The current price for a BTC is $ 56,500.
We want to sell a BTC for $ 57,000, and we set the order at this price expecting a Limit price level.
If the price increases by $ 500 (reaching $ 57,000), the sale will be made.
Please note that we often pay lower transaction fees when using the BUY LIMIT.