π We are starting a series of introductory posts with S-Trade orders and we are already ready to tell you about the first one — Limit order. This is a type of order with which the trader specifies the minimum price to buy the cryptocurrency and the maximum price to sell.
πΆ For example, if the price of BNB is $300 and the trader wants to buy BNB for $250, he can set a limit order to buy BNB at $250. If the price of BNB in the market drops to $250, the order will be triggered automatically and BNB will be bought at $250 or less.
βΊ The same way the order works in the case of selling. If a trader owns BNB and wants to sell the asset for $400, he can set a limit order to sell BNB at $400. If the value of the asset reaches this level, the order will trigger automatically and the BNB will be sold at $400 or more.
A limit order allows traders to control the price at which they buy or sell the cryptocurrency and protects them from losses β‘οΈ
βΆοΈ Watch video tutorials on how to use Limit order on S-Trade and see for yourself its convenience.
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