Coinstore provides two order types for spot trading: limit orders and market orders. These can be used to set your trading strategies and execute trades efficiently.
What is a Market Order?
A market order allows you to quickly buy or sell an asset at the best available current market price.
For example, you can enter the total amount in USDT that you want to use to buy BTC. Alternatively, use the percentage bar to decide how much of your balance to allocate to the order. Tap "Buy BTC" to place your order instantly.
What is a Limit Order?
A limit order is placed on the order book with a specified limit price. Unlike a market order, it will not be executed immediately. Instead, the limit order will only be fulfilled if the market price reaches your set limit price (or a better one). This allows you to buy at a lower price or sell at a higher price than the current market price.
For example, if you place a buy limit order for 1 BTC at $60,000 and the current price is $50,000, your order will be filled immediately at $50,000 since it is a better price than your limit of $60,000.
Similarly, if you place a sell limit order for 1 BTC at $40,000 and the current price is $50,000, the order will be filled immediately at $50,000 because it is a better price than your limit of $40,000.