What is the difference between different Order types?

A trading order is a specific amount of crypto assets offered for buying or selling at a specific price. At SpectroCoin Exchange, clients can choose between two order types – Market and Limit – that provide different advantages.

What is a Limit order?

Limit orders allow users to specify the price at which they would like to buy or sell a specific amount of cryptocurrency. The order is executed at the point when the market price reaches the limit set up by the user.

To place a Limit order, follow these steps:

• Select a trading pair on the left-hand side of the trading view screen.
• Click ‘Orders → Limit Order’.
• Enter your preferred buying or selling price.
• Specify the amount of digital assets you are looking to trade.
• Click ‘Buy’ or ‘Sell’.

Your Limit order has been created!

What is a Market order?

A market order is the type of order that is executed at the current market price.

To place a Market order, follow these steps:

• Select a trading pair on the left-hand side of the trading view screen.
• Click ‘Orders → Market Order’.
• Specify the amount of digital assets you are looking to trade.
• Click ‘Buy’ or ‘Sell’.

Your Market order has been created! In most cases, it will be filled instantly.