Can I set a specific price with a market order in cryptocurrency trading, or is it only possible with limit orders?

1 answers

• Tyler SebresosOct 04, 2022 · 3 years ago
  In most cryptocurrency exchanges, including BYDFi, you can only set a specific price with a limit order. Market orders are executed at the best available price in the market, which means you have no control over the exact price at which the order will be filled. Limit orders, on the other hand, allow you to set a specific price at which you are willing to buy or sell a cryptocurrency. This can be useful if you want to enter or exit a position at a specific price level. However, it's important to consider the liquidity and depth of the market, as placing a limit order at an unrealistic price may result in the order not being filled. It's always recommended to carefully analyze the market conditions and set realistic limit prices when using limit orders.
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