What is the difference between buying a cryptocurrency on the market and buying it on close?

3 answers

• Nov 29, 2021 · 3 years ago
  When you buy a cryptocurrency on the market, you are purchasing it at the current market price. This means that the trade will be executed immediately at the best available price. The advantage of buying on the market is that you can enter the trade quickly and take advantage of any price movements. However, the disadvantage is that the price may change by the time your order is executed, resulting in a different price than you expected. It's important to note that buying on the market may also incur higher fees compared to other methods.
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• Nov 29, 2021 · 3 years ago
  Buying a cryptocurrency on close means that your trade will be executed at the closing price of the trading day. This method is often used by investors who want to avoid the volatility of intraday price movements. The advantage of buying on close is that you have a fixed price at which your trade will be executed, regardless of any price fluctuations during the day. However, the disadvantage is that you may miss out on potential price gains or losses that occur after the closing price is determined. It's important to consider your investment strategy and risk tolerance when choosing between buying on the market or on close.
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• Nov 29, 2021 · 3 years ago
  At BYDFi, we recommend buying cryptocurrencies on the market for most traders. This allows you to enter the trade quickly and take advantage of price movements. However, if you are a long-term investor and want to avoid short-term price fluctuations, buying on close may be a better option for you. It's important to understand the risks and benefits of each method and choose the one that aligns with your investment goals.
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