How does a limit sale order work in the world of digital currencies?

3 answers

• Dec 20, 2021 · 3 years ago
  A limit sale order is a type of order placed by a trader to sell a specific amount of a digital currency at a predetermined price or better. When the market price reaches or exceeds the specified limit price, the order is executed. This type of order allows traders to set a target price for selling their digital currency and helps them avoid selling at a lower price than desired. It provides more control over the selling process compared to market orders, where the trade is executed immediately at the current market price. Limit sale orders are commonly used by traders to take profits or to sell their digital currency when they believe the price will decrease.
  668334
• Dec 20, 2021 · 3 years ago
  So, let's say you have 1 Bitcoin and you want to sell it at a specific price. You can place a limit sale order with your desired selling price, let's say $50,000. If the market price reaches $50,000 or goes above it, your order will be executed and your Bitcoin will be sold. However, if the market price never reaches $50,000, your order will remain open until it is either canceled or the market price reaches your desired level. It's important to note that limit sale orders do not guarantee execution, as they are dependent on the market reaching the specified limit price.
  577193
• Dec 20, 2021 · 3 years ago
  At BYDFi, we also offer limit sale orders as part of our trading platform. With a limit sale order, you can set the price at which you want to sell your digital currency and let our platform execute the trade for you when the market reaches that price. It's a convenient way to automate your selling process and ensure you don't miss out on potential profits. Remember to always consider market conditions and do your own research before placing any orders.
  457115