What is a limit order?

A limit order is an order that you place on the order book with a specific limit price. The limit price is determined by you. So when you place a limit order, the trade will only be executed if the market price reaches your limit price. Therefore, you can use limit orders to buy at a lower price or to sell at a higher price than the current market price.

A Limit Order is an order to buy or sell crypto with a price specification.  For buy orders, the limit price is placed at or below the current ask price.

For example: The current price of Dogecoin is ₹19 and you are interested in purchasing 100

Dogecoins at ₹15. You would then place a limit order to buy 100 Dogecoins at ₹15. 

This way, your trade order will only execute if the price hits or falls below ₹15.

A sell limit order works similarly. For a sell order, the limit price is placed at or above the current bid price.

For example: If you want to sell those 100 doges you bought at ₹15 but unwilling to sell at a

price less than ₹19, you could place a sell limit order at ₹19. This way if your order is executed,

you have ensured a minimum price of ₹19.

*A limit order is not guaranteed execution but it is guaranteed the limit price or better if

executed.*