How to Set Limit Order on Crypto.com

A limit order is an order to buy or sell a security at a specified price or better. A limit order is not guaranteed to execute.

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Introduction

Crypto.com is a popular cryptocurrency exchange that allows you to buy, sell, and trade a variety of digital assets. If you’re new to the world of cryptocurrency, you may be wondering how to set limit orders on the Crypto.com exchange. In this article, we’ll give you a step-by-step guide on how to do just that.

A limit order is an order to buy or sell a security at a specified price or better. For example, let’s say you want to buy Bitcoin at $10,000 per coin. You could place a limit order for 1 Bitcoin at $10,000, and the trade will only go through if the price of Bitcoin is $10,000 or less when the order is filled. If the price of Bitcoin rises above $10,000 before your order is filled, you may not get the price you want.

There are two types of limit orders:

-Buy limit orders: Used to buy an asset at or below the specified price
-Sell limit orders: Used to sell an asset at or above the specified price

In this article, we’ll focus on how to place a buy limit order on Crypto.com.

What is a limit order?

A limit order is an order to buy or sell a security at a specific price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute.

How to set a limit order on Crypto.com

In order to set a limit order on Crypto.com, you will need to:
1. Log in to your Crypto.com account
2. Go to the “Exchange” tab
3. Select the currency pair you wish to trade
4. Enter the amount you wish to buy or sell
5. Enter the price you are willing to pay per unit
6. Select “Limit” from the “Order Type” drop-down menu
7. Click “Buy” or “Sell”
8. Your limit order will now be placed and will remain active until it is filled or cancelled

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Why use a limit order?

There are numerous types of orders that can be placed when trading cryptocurrencies, each with their own advantages and disadvantages. In general, limit orders are considered to be a more reliable way to trade, as they guarantee a set price for the trader. Market orders, on the other hand, are more risky as they involve buying or selling at the current market price, which can fluctuate rapidly.

With a limit order, you can choose to buy or sell at a specific price, or better. This means that if the market price reaches your desired level, your order will be automatically executed. Limit orders are often used by traders who have a specific price target in mind, and who are willing to wait for the market to reach this level before executing their trade.

What are the benefits of using a limit order?

A limit order is an order to buy or sell a security at a specified price or better. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute, but it does ensure that you will not pay more (or sell for less) than the specified price.

What are the risks of using a limit order?

When trading cryptocurrency, there are two main types of orders that you can place: market orders and limit orders. A market order is an order to buy or sell a security at the best available price, while a limit order is an order to buy or sell a security at a specific price (or better).

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There are a few risks to using limit orders that you should be aware of before placing one. First, if the market price of the security you’re trying to buy or sell moves too far away from your limit price, your order may not be filled. For example, if you place a limit buy order for $100 and the lowest ask price is $105, your order will not be filled until someone is willing to sell to you at $100 or lower.

Second, even if the market price does come down to your limit price, there’s no guarantee that your order will be filled. This is because there may not be enough people willing to sell (or buy) at that price.

Third, if the market price moves away from your limit price and then comes back again, it’s possible that your order will be filled at a worse price than you were expecting. For example, if you place a limit buy order for $100 and the lowest ask price is $105 when your order is placed, but by the time your order is filled the lowest ask prices has risen to $110, you will end up paying more than you were expecting.

Finally, it’s important to remember that cryptocurrency markets are highly volatile and prices can move quickly. This means that there’s always a risk that the market price will move away from your limit price before your order can be filled.

How to cancel a limit order

Log in to your Crypto.com account, go to the ‘Exchange’ page, and select the currency pair for which you would like to set a limit order.

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Click on the ‘Buy’ or ‘Sell’ button next to the currency pair, and enter the amount you would like to trade in the ‘Amount’ field.

Under ‘Price’, enter the price at which you would like to execute your trade. If you want to buy or sell at the current market price, click on the ‘Market Price’ button.

finally, click on the ‘Place Buy/Sell Order’ button. Your limit order will be placed and you will see it listed under the ‘Open Orders’ tab.

Conclusion

We hope this guide was helpful in explaining how to set a limit order on Crypto.com. If you have any questions or feedback, please don’t hesitate to reach out to us at [email protected]

FAQ

If you want to set a limit order on Crypto.com, you will need to go to the “Exchange” page and select the currency pair that you want to trade. Then, you will need to enter the amount of currency that you want to buy or sell, and finally, you will need to set your price limit.

Further Reading

-“How to Set Limit Order on Crypto.com.” The Balance, 9 Dec. 2020, https://www.thebalance.com/how-to-set-limit-order-on-crypto-com-4683161. Accessed 13 Dec. 2020.

In order to set a limit order on Crypto.com, you will need to first log into your account on the website. Once you are logged in, you will need to click on the “Orders” tab located at the top of the page. After you have clicked on the “Orders” tab, you will need to find the “Limit” section and click on it. Once you are in the “Limit” section, you will be able to set your desired price and quantity for your limit order.

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