Can you explain what 'limit' means when buying virtual currencies?

3 answers

• psl-mbdynamicsApr 03, 2023 · 2 years ago
  When you buy virtual currencies, the term 'limit' refers to a specific price at which you want to buy the currency. It is the maximum price you are willing to pay for the currency. If the market price of the currency reaches or falls below your specified limit price, your order will be executed. This allows you to have more control over your buying process and ensures that you don't end up paying more than you intended. It's a useful feature for traders who want to set a specific buying price and wait for the market to reach that price before executing the order.
  569

  285
• Ravinder kashyapJan 05, 2021 · 5 years ago
  When you buy virtual currencies, the 'limit' option allows you to set a specific price at which you want to buy the currency. This means that your order will only be executed if the market price reaches or falls below your specified limit price. It's a way to ensure that you buy the currency at a price that you are comfortable with, rather than buying at the current market price. It gives you more control over your buying process and helps you avoid sudden price fluctuations. Just keep in mind that if the market price doesn't reach your limit price, your order may not be executed.
  587

  196
• Leonardo CamposJul 29, 2022 · 3 years ago
  When it comes to buying virtual currencies, the term 'limit' is all about setting a specific price for your purchase. Let's say you want to buy Bitcoin at a certain price, but the current market price is higher than what you're willing to pay. By setting a limit order, you can specify the maximum price you're willing to pay for Bitcoin. If the market price reaches or falls below your limit price, your order will be executed. It's like telling the exchange, 'Hey, I want to buy Bitcoin, but only if it's at this price or lower.' This way, you can have more control over your buying process and avoid overpaying for the currency.
  631

  158