A limit order is a type of order to buy or sell a cryptocurrency at your specified price or better.
Unlike market orders, limit orders are not executed instantly at the current market price. Limit orders are executed only when a market order equal to or better than the price you specified is received.
For buy limit orders, the order will only be executed when a seller is willing to sell to you at a price that is lower than or equal to your specified buy price. For sell limit orders, the order will only be executed when a buyer is willing to buy at a price that is higher than or equal to your specified sell price.
For example, if you place a limit order to buy bitcoin at the rate of N6,500,000 per bitcoin, your order will be fulfilled only for market orders that offer to sell at N6,500,000 or less .
When to place a limit order
Place a limit order when you want to specify a price and you do not need the order to execute instantly.
Placing a limit order
You can place a limit order that shows up in the order book using the postProLimitOrder mutation.