#OrderTypes101

Market orders are designed to execute instantly at the current market price. Let's say you're on Binance and want to buy 3 BTC at the current price of $15,000 per coin, totaling $45,000. You're willing to pay this price and don't want to wait for a potential price drop. To do this, you place a buy market order.

But who are you buying from? The answer lies in the order book, where the exchange lists limit orders that aren't executed immediately. These orders specify a price at which to buy or sell. For example, another user might have placed a limit order to sell 3 BTC at $15,000. When you place your market order, the exchange matches it with this existing limit order, facilitating the transaction.