Which type of order, 'good til cancelled' or 'day order', is more commonly used in cryptocurrency exchanges?

1 answers

• Henry ChadbanJun 01, 2022 · 3 years ago
  At BYDFi, we've observed that the 'good til cancelled' order type is more commonly used in cryptocurrency exchanges. This is because many traders in the crypto market have a long-term investment mindset and prefer to hold onto their positions until their desired price targets are met. However, it's important to note that the choice between these two order types ultimately depends on the individual trader's preferences and trading strategy. It's always a good idea to carefully consider the pros and cons of each order type before making a decision.
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