Cryptocurrency trading is a volatile market with abrupt fluctuations that can occur in a short period of time. BuyUcoin supports the Limit order mechanism on its platform to give traders and investors more control over their trades and investments while lowering or eliminating the risk of losing money.
Limit Orders are a type of exchange order that allows traders to buy or sell their crypto assets at a predetermined price or better. Limit orders are classified into two types: Buy Limit Order and Sell Limit Order.
A Buy Limit Order will only be executed if the asset's cost price is equal to or lower than the predefined price.
A Sell Limit Order, on the other hand, will be executed only if the selling price of the crypto asset is equal to or greater than the pre-specified amount.
Limit Orders are ideal for investors who prefer to play it safe and take their time with their cryptocurrency transactions.
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