Market Order

A market order is an order that is executed immediately at the current best market price.

Features:

  • ✅ Instant execution, no waiting required
  • ✅ Simple to use, suitable for beginners
  • ❌ Price is uncontrollable, slippage may occur
  • ❌ Slightly higher fees (Taker rate)

Best for: Urgent buying/selling where price difference doesn't matter; highly liquid major coins (BTC, ETH).

Limit Order

A limit order sets a target price and is only executed when the market price reaches that level.

Features:

  • ✅ Allows control over buy/sell price
  • ✅ Slightly lower fees (Maker rate)
  • ❌ May not be executed, requires waiting
  • ❌ Slightly more complex to use

Best for: Buying at a specific price; no rush to execute; wanting to save on fees.

Example

Current BTC price: $67,000

Market order to buy: Executes immediately at around $67,000 (may have ±0.1% slippage)

Limit order to buy (set at $65,000): Place the order and wait. It only executes if BTC drops to $65,000. If the price never drops, the order won't execute.

What is Slippage?

Slippage is the difference between the actual execution price of a market order and the price displayed when placing the order. Highly liquid coins (BTC, ETH) have very low slippage (0.01-0.1%), while small-cap coins may have 1-5% slippage.

Tips for Beginners

  • Start with market orders for simplicity and directness
  • Once familiar, learn limit orders to buy at lower prices during pullbacks
  • For large trades, use limit orders to avoid slippage losses
💡 Advanced tip: When you want to buy at a specific price, set a limit order and walk away—no need to watch the screen. It will execute automatically when the price is reached.