Crypto stop order
A stop order is an order to buy or sell crypto once it reaches a specified price, called the stop price. When this price is reached, the stop order becomes a market order and is executed at the best available price (which might be higher or lower than the stop price). Stop orders aren’t guaranteed to execute until the crypto reaches the stop price.
Setting a stop price
For a sell stop order, set a stop price below the current crypto price. If the crypto falls to your stop price, the sell stop order becomes a sell market order. The execution price may vary from the stop price.
To set a stop order in-app:
- Go to 'Crypto' on the bottom menu
- Tap 'Trade' and select a cryptocurrency
- Tap 'Buy' or 'Sell'
- Tap the order type switcher on the order screen (next to the 'Review order' button) and select 'Stop order'
- Enter the stop price value, and tap 'Continue'
- Enter your stop order purchase amount, and click 'Review order'
- Review your order, read the risk disclosure, and tap 'Submit order'
An example of how a crypto stop order works
If crypto 'X' is currently trading at USD 5, and you want to sell the crypto as soon as its price goes below USD 4, you'd set your stop price to USD 4. This may be because you suspect that price might fall further, and you want to stop holding the crypto when it reaches USD 4.
Here's what happens next:
- Price falls to stop price: If the price of crypto 'X' falls from USD 5 to USD 4, your sell stop order will become a sell market order and will be executed at the best price available
- Price doesn't reach stop price: If the price of crypto 'X' doesn’t reach USD 4, your order won’t be triggered