What is the limit price in digital currency trading?

1 answers

• Battle DamborgAug 11, 2024 · a year ago
  The limit price in digital currency trading is an important concept to understand. It refers to the specific price at which you want to buy or sell a cryptocurrency. Let's say you want to buy Ethereum at a price of $500. By placing a limit order with this price, you are essentially saying that you are only willing to buy Ethereum if the market price reaches $500 or lower. Similarly, if you want to sell Ethereum at a price of $600, you can place a limit order with this price, and your trade will be executed when the market price reaches $600 or higher. The advantage of using a limit order is that it allows you to set your desired price and wait for the market to reach it. This can be useful when you want to buy or sell a cryptocurrency at a specific price level, rather than at the current market price. However, it's important to keep in mind that there is no guarantee that your limit order will be filled, as it depends on market conditions and the availability of buyers or sellers at your specified price.
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