What is a crypto limit order?
A limit order is an order to buy or sell at a specified price or better. Buy limit orders will be executed at the specified price or lower, sell limit orders will be executed at the specified price or higher.
Limit orders aren't guaranteed to execute. Limit orders will only be executed if the price of the crypto increases/decreases to the set limit price.
How do buy limit orders work?
With a buy limit order, a crypto is purchased at your limit price or lower. Your limit price should be the maximum price you want to pay.
Example: Crypto X is currently trading at $5, but you're only interested in buying the crypto if it goes below $4. So, you'd set your limit price to $4.
If the price of crypto X drops from $5 to $4 or lower, your order will be executed (in full or partially) at $4 or lower.
If the price of crypto X doesn’t drop to $4, your order won’t execute.
How do sell limit orders work?
With a sell limit order, crypto is sold at your limit price or higher. Your limit price should be the minimum price you want to get per share.
Example: Crypto X is currently trading at $5, but you're only interested in selling the crypto if its price goes above $6. So, you'd set your limit price to $6.
If the price of crypto X rises from $5 to $6 or higher, your order will be executed (in full or partially) at $6 or higher.
If the price of crypto X doesn’t rise to $6, your order won’t execute.
You can place a limit order in-app. On the buy screen, please tap on the market order dropdown, in the top right corner. You can select the type as limit order and enter the limit price value.