#OrderTypes101

Order Types 101 in Cryptocurrency

To understand trading in cryptocurrencies, it is essential to know the types of orders (Order Types).

The basic type is the Market Order, which is executed immediately at the best available price. Ideal for speed, but it may be affected by volatility.

The Limit Order allows you to set the price at which you want to buy or sell, but it is only executed if the market reaches that price.

The Stop-Loss Order is used to minimize losses, as it triggers the sale automatically at a certain price.

There is also the Stop-Limit Order, which combines a stop order and a limit order to precisely define the execution price.

Understanding these types helps you control your trades and reduce risks.

Start with the market, then try the limit orders with a clear plan.

Source: Binance Academy, Investopedia.