Which type of order, limit or market, is more commonly used by cryptocurrency traders?

1 answers

• dovchko onoltSep 20, 2022 · 3 years ago
  At BYDFi, we have observed that the majority of cryptocurrency traders prefer to use limit orders. This is because limit orders allow traders to have more control over the execution price of their trades. With a limit order, traders can set the maximum price they are willing to pay for a cryptocurrency or the minimum price they are willing to sell it for. This helps traders avoid unexpected price fluctuations and ensures that they get the best possible price for their trades. However, it's important to note that limit orders may not always be filled if the market does not reach the specified price. In such cases, traders may need to adjust their limit orders or consider using market orders for immediate execution. Ultimately, the choice between limit orders and market orders depends on the trader's individual preferences and trading strategy.
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