How does the 60 day GTC order type work in cryptocurrency exchanges?

1 answers

• Luan Gustavo Altruda FilipovJul 08, 2023 · 3 years ago
  The 60 day GTC order type is a feature offered by many cryptocurrency exchanges that allows traders to place orders that remain active until they are filled or canceled. This means that if you place a buy or sell order with a 60 day GTC duration, it will stay in the order book until it is executed or manually canceled by you. One advantage of using GTC orders is that they can be useful for long-term investors who want to set a specific price at which they are willing to buy or sell a particular cryptocurrency. However, it's important to note that GTC orders may not be executed immediately, especially if the desired price is not reached. Additionally, some exchanges may have restrictions on the maximum duration of GTC orders or charge fees for keeping them active for an extended period of time. It's always a good idea to check the specific rules and fees of the exchange you are using before placing a GTC order.
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