How does Binance handle the filling of limit orders for cryptocurrencies?

3 answers

• Sarah RoweSep 17, 2023 · 2 years ago
  When it comes to filling limit orders for cryptocurrencies, Binance follows a specific process. First, let me explain what a limit order is. A limit order is an instruction given to a cryptocurrency exchange to buy or sell a cryptocurrency at a specific price or better. Now, when you place a limit order on Binance, it goes into the order book, which is a list of all the buy and sell orders waiting to be filled. Binance matches buy and sell orders based on price and time priority. This means that if your limit order matches with an existing order in the order book, it will be filled immediately. If there is no matching order, your limit order will remain in the order book until it is filled or canceled. Binance ensures fair and transparent order matching by using a first-in, first-out (FIFO) algorithm, which means that the oldest orders are filled first. This ensures that all traders have an equal chance of having their orders filled.
  947

  474
• Pappas MoralesJun 24, 2022 · 4 years ago
  When you place a limit order on Binance, it is important to set the price at which you are willing to buy or sell a cryptocurrency. If the market price reaches your specified price, your order will be filled. However, if the market price does not reach your specified price, your order will remain unfilled. It's important to note that limit orders do not guarantee immediate execution, as they are dependent on market conditions. Binance provides real-time market data and order book information, allowing traders to make informed decisions when placing limit orders. It's always a good idea to monitor the market and adjust your limit orders accordingly to maximize your chances of getting them filled.
  704

  235
• MotvizDec 21, 2023 · 2 years ago
  At BYDFi, we handle the filling of limit orders for cryptocurrencies in a similar way to Binance. When you place a limit order on our platform, it goes into our order book and is matched with existing buy or sell orders based on price and time priority. We also use a FIFO algorithm to ensure fair order matching. Our goal is to provide a seamless trading experience for our users and ensure that their limit orders are filled in a timely manner. We understand the importance of transparency and strive to maintain a fair and efficient trading environment for all our users.
  574

  144