What is Limit Order?
A limit order is an order set by traders to buy or sell a cryptocurrency, or other assets, at a pre-specified price. The order is executed if the crypto price reaches the price specified for the limit order. In cases when an asset’s price doesn’t move to the limit order price, the order is not executed. Traders can specify an expiration date for the limit order, and if the specified price is not met within the specified period, it will not be filled. The purpose of a limit order is to better manage potential price risks. It is also used to eliminate the need for constant checks of crypto prices.