Buying/Selling on Exchanges - Market vs Limit vs Scaled Orders

evo

Site Admin
Apr 2017
Seattle
#1
When buying or selling cryptocurrency on exchanges, you will see different types of orders:
  • Market Order
  • Limit Order
  • Scaled Order
Here is a guide explaining the different types of order options:

Market Order
A market order is an order to buy or sell a given instrument at the market price. The market price is defined as the best available price for the instrument at the moment when the order is placed. Since the price changes in real-time the total and fee are provided as estimates rather than exact values.

Limit Order
A Limit order is an order to execute a transaction only at a specified price (the limit) or better. A limit order to buy would be at the limit or lower, and a limit order to sell would be at the limit or higher. Limit orders are used by investors who have decided on the price at which they are willing to trade.

Scaled Order
Scaled Scaled order is a set of multiple orders to buy or sell, automatically distributed among the user-determined price range (from minimum price to maximum). Amount could have flat, upscale and downscale distribution.
 

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