What is the significance of 'or best offer' when trading cryptocurrencies?

3 answers

• CelotosJul 22, 2023 · 2 years ago
  When trading cryptocurrencies, the term 'or best offer' refers to a type of order that allows traders to specify the minimum price they are willing to accept when selling or the maximum price they are willing to pay when buying. This order type is significant because it gives traders more control over their trades and helps ensure that they get the best possible price. By setting a minimum or maximum price, traders can avoid selling or buying at unfavorable prices and potentially save money. It is a useful tool for traders who want to optimize their trading strategies and maximize their profits.
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• Lorenzo TrecrociApr 02, 2024 · a year ago
  When you see 'or best offer' in the context of trading cryptocurrencies, it means that the seller or buyer is open to negotiating the price. It's like saying 'make me an offer, and I'll consider it.' This flexibility can be advantageous for both parties as it allows them to potentially get a better deal. However, it's important to note that the final price will still depend on market conditions and the willingness of the other party to negotiate. So, if you come across 'or best offer' when trading cryptocurrencies, don't hesitate to make an offer, but also be prepared for the possibility of the other party rejecting or counter-offering your offer.
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• ANKIT KUMAR GUPTA CO21309Jun 04, 2022 · 3 years ago
  When trading cryptocurrencies, 'or best offer' is a term commonly used to indicate that the seller or buyer is willing to consider offers that are higher or lower than the current market price. This can be significant because it allows traders to potentially get a better deal by offering a price that is more favorable to them. However, it's important to note that 'or best offer' does not guarantee that the offer will be accepted. The final decision will depend on the seller or buyer's discretion and their assessment of the offer's value. In the context of BYDFi, this order type is available and can be used by traders to enhance their trading strategies and potentially improve their trading outcomes.
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