Cryptocurrency trading is a fragile market and is subject to erratic fluctuations that can happen in a short period of time. BuyUCoin supports the Limit order mechanism on its platform in order to provide traders and investors more control over their trades and investments while reducing or eliminating the risks of facing a loss.
Limit Order mechanism is a type of exchange order through which traders are able to buy or sell their crypto assets at a specific pre-defined price or better. There are 2 types of limit orders
Buy Limit Order
Sell Limit Order
A Buy Limit Order will only be executed when the cost price of the asset is either equal to the pre-defined price or lower than it. On the other hand, a Sell Limit Order will only be executed when the selling price of the crypto asset is equal to the pre-defined amount or more than that. Limit Orders are perfect for investors who are willing to play safe and are patient with their crypto dealings.