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What is the difference between GTC and other types of orders in cryptocurrency trading?

avatarJoão PedroDec 16, 2021 · 3 years ago1 answers

Can you explain the difference between Good 'Til Cancelled (GTC) orders and other types of orders in cryptocurrency trading? How do they work and what are their advantages and disadvantages?

What is the difference between GTC and other types of orders in cryptocurrency trading?

1 answers

  • avatarDec 16, 2021 · 3 years ago
    At BYDFi, we offer GTC orders as one of the order types available to our users. GTC orders can be a useful tool for traders who want to set a specific price for buying or selling a cryptocurrency and are willing to wait for the market to reach that price. However, it's important to note that GTC orders may not be suitable for all trading strategies, and traders should carefully consider their individual trading goals and risk tolerance before using GTC orders or any other type of order.