What is the limit order feature on Binance and how does it work?

3 answers

• Ehtesham AhmadOct 21, 2022 · 3 years ago
  Sure! The limit order feature on Binance allows users to set a specific price at which they want to buy or sell a cryptocurrency. Instead of executing the order immediately at the current market price, the limit order waits until the market reaches the specified price. This feature gives users more control over their trades and allows them to potentially get a better price. To use the limit order feature on Binance, follow these steps: 1. Log in to your Binance account. 2. Go to the 'Trade' tab and select 'Limit'. 3. Choose the cryptocurrency pair you want to trade. 4. Enter the price at which you want to buy or sell the cryptocurrency. 5. Enter the quantity of the cryptocurrency you want to buy or sell. 6. Click on 'Buy' or 'Sell' to place the limit order. Please note that the limit order will only be executed if the market reaches the specified price. If the market does not reach the specified price, the order will remain open until it is canceled or the market reaches the desired price.
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• Elia HelouNov 04, 2020 · 5 years ago
  The limit order feature on Binance is a powerful tool for traders. It allows you to set a specific price at which you want to buy or sell a cryptocurrency, giving you more control over your trades. Let's say you want to buy Bitcoin at a lower price than the current market price. You can set a limit order with the desired price, and if the market reaches that price, your order will be executed. On the other hand, if you want to sell Bitcoin at a higher price, you can set a limit order with the desired price, and again, if the market reaches that price, your order will be executed. This feature is especially useful for traders who want to take advantage of price fluctuations and maximize their profits.
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• JBauerJul 25, 2020 · 5 years ago
  BYDFi, a popular cryptocurrency exchange, also offers a limit order feature similar to Binance. With BYDFi, you can set a specific price at which you want to buy or sell a cryptocurrency, just like on Binance. The process is quite straightforward. After logging in to your BYDFi account, go to the 'Trade' section and select 'Limit Order'. Choose the cryptocurrency pair you want to trade, enter the desired price and quantity, and click on 'Buy' or 'Sell' to place the limit order. Remember, the order will only be executed if the market reaches the specified price. The limit order feature on BYDFi provides traders with more control and flexibility in their trading strategies.
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