#BinanceSafetyInsights minimize losses by automatically selling a crypto asset when it hits a certain price. Here are a few popular stop loss strategies you can use:

1. Basic Stop-Loss Order

How it works: You set a specific price below your purchase price. When the market hits that price, your asset is sold.

Example: You buy BTC at $30,000. You set a stop-loss at $28,000. If BTC drops to $28,000, it triggers a market sell order.

2. Stop-Limit Order

How it works: Similar to a basic stop-loss, but you define both a trigger (stop) and a limit price.

Example: Stop = $28,000, Limit = $27,800. If the price hits $28,000, a limit order is placed at $27,800.