How does the 'stop on quote' feature work in cryptocurrency exchanges?

3 answers

• Dec 16, 2021 · 3 years ago
  Sure! The 'stop on quote' feature in cryptocurrency exchanges allows traders to set a specific price at which they want to buy or sell a particular cryptocurrency. When the market reaches that price, the exchange automatically executes the trade. This feature is useful for traders who want to enter or exit a position at a specific price without constantly monitoring the market. It helps to eliminate the need for manual execution and reduces the risk of missing out on favorable trading opportunities.
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• Dec 16, 2021 · 3 years ago
  The 'stop on quote' feature is like having a personal assistant for your trades. You can set a 'stop' price, and when the market reaches that price, the exchange will 'quote' you a trade. It's a handy tool for traders who want to automate their trading strategies and take advantage of price movements without being glued to their screens. Just set your stop price, sit back, and let the exchange do the work for you!
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• Dec 16, 2021 · 3 years ago
  BYDFi, a popular cryptocurrency exchange, offers the 'stop on quote' feature to its users. With this feature, traders can set a stop price for a specific cryptocurrency and let the exchange handle the execution when the market reaches that price. It's a convenient way to automate trades and take advantage of market movements without constantly monitoring the exchange. BYDFi's 'stop on quote' feature is designed to provide traders with a seamless and efficient trading experience.
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