What is the difference between stop-limit orders and market orders on Binance for buying and selling cryptocurrencies?

1 answers

• Nov 24, 2021 · 3 years ago
  Stop-limit orders and market orders are two different types of orders available on Binance for buying and selling cryptocurrencies. A stop-limit order allows you to set a stop price and a limit price. When the stop price is reached, the order is triggered and becomes a limit order. The limit order will be executed at the limit price or better. This type of order is useful when you want to buy or sell a cryptocurrency at a specific price. On the other hand, a market order is an order to buy or sell a cryptocurrency at the best available price in the market. Market orders are executed immediately and do not have a specified price. They are useful when you want to buy or sell a cryptocurrency quickly and are willing to accept the current market price. Both types of orders have their advantages and disadvantages, and the choice depends on your trading strategy and risk tolerance.
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