Main Takeaways

  • Limit buy orders allow users to set the maximum price they’re willing to pay for a given crypto asset and are only executed within the desired parameters.

  • Users can now place limit buy orders via Binance’s Buy Crypto service to purchase digital assets in their local currencies with their credit or debit cards.

  • This functionality broadens the range of options for buying crypto with fiat on Binance, catering to users’ varying trading preferences.

Please note that the availability of this feature may be limited in certain countries and regions.

What is a Limit Buy Order in Crypto

A limit order lets users specify the price at which they wish to buy a cryptocurrency. Unlike instant orders, which are typically executed immediately based on the quote provided by Binance and confirmed by the user, a limit buy order will be executed only when our quote for the relevant asset reaches the desired price set by the user. Limit buy orders are a popular type of trade order used by traders to buy at a later point in time and at a lower price than the current market price, giving users control over the maximum purchase price. 

Benefits of Using Limit Buy Orders in Crypto Trading

  • Placing a limit buy order in advance of buying at a target price means traders can better manage budget and gain better control in executing their strategy.

  • Limit buy orders can also protect against unexpected price fluctuations, as buys are only secured at the trader’s desired price point. 

  • By budgeting precisely within a given time span, traders can enjoy a more granular trading experience and maximize the efficiency of their strategy.

Limit Buy Orders via Binance’s Buy Crypto Service

Users of all experience levels can now place limit orders to buy crypto using local currencies with their credit or debit cards, via Binance’s Buy Crypto feature. Similar to placing limit orders on Binance Convert and Binance Spot, the enhanced Buy Crypto interface now lets users choose ‘Limit Buy’ instead of ‘Instant Order’ to set the price they wish to purchase at. 

Limit buy orders for buying with fiat are set for a 90-day validity period, and executed only if the target price is reached within the fixed time period. The orders can be cancelled at any time as long as they haven’t been executed, or will expire automatically if the target price is not reached within the 90-day period.

For example, if a user decides to buy $1,000 worth of BNB at $800 per token, they can place a limit buy order specifying the token and target price. If there isn’t an immediate match for the trade, the order will remain open until it is filled, canceled, or expires by the end of the 90-day period.

With this feature, users can budget according to the price they’re willing to pay for a given asset, and enjoy the convenience of orders being executed automatically and with accuracy within a predictable time frame. 

The Limit Buy Order feature is currently available on the Binance Pro app and website, and is supported by over 50 local currencies using VISA and Mastercard credit/debit cards as the payment method. 

How to Place a Limit Buy Order on Binance Using Credit/Debit Card

Binance users can access the Limit Buy Order feature via the Buy Crypto page on the Binance Pro app and website.

Via Binance Pro App

1. Log in to your Binance account and go to [Buy Crypto]. Select the currency you wish to spend, and the token you wish to receive. Set the payment method as [Credit/Debit Card]. 

2. In the top right-hand corner, tap to view the options of order types. Then select [Limit Buy].

3. Review your purchase details. Tap the [Edit] button next to ‘Target Price’ to adjust the settings for target price. Tap [Preview Order] to confirm and proceed. 

3.1. The Target Price Settings window will appear. Input or adjust the target price at which you wish to purchase the asset, then tap [Continue].

4. Review the order details before tapping [Confirm].

5. The limit order is placed successfully. You can view the status of your limit order under [Transaction History] - [Buy] - [Limit Buy].

Final Thoughts

Staying on top of the fast-moving market requires a flexible approach to trading crypto. To address the diverse circumstances and trading preferences of our users, Binance’s Buy & Sell Crypto service continues to enhance its offerings of trade orders. New users and seasoned traders alike can leverage their preferred order types to make the most of their crypto journey. We are committed to providing a seamless fiat on-ramp experience for a variety of trade order types, allowing users to access crypto with confidence and ease. Try placing a limit buy order on Binance today!

Further Reading

  • Binance Academy: What Is a Limit Order?

  • How to Buy Crypto with Credit/Debit Card on the Binance App?

  • Buy & Sell Crypto Services Terms

Disclaimer: Digital asset prices can be volatile. The value of your investment may go down or up and you may not get back the amount invested. You are solely responsible for your investment decisions and Binance is not liable for any losses you may incur. Not financial advice. For more information, see our Terms of Use and Risk Warning.