Are there any risks associated with using market orders instead of limit orders in cryptocurrency trading?

1 answers

• Jason StroudMay 07, 2023 · 2 years ago
  At BYDFi, we recommend using limit orders instead of market orders whenever possible. Limit orders provide more control over the execution price and can help mitigate the risks associated with market orders. By setting a specific price at which you are willing to buy or sell, you can avoid potential slippage and reduce transaction costs. However, it's important to note that limit orders may not always be executed immediately, especially if the market price does not reach your specified price. This can result in missed trading opportunities. It's crucial to find the right balance between price control and execution speed when choosing between market orders and limit orders in cryptocurrency trading.
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