A Buy or Sell Limit Order is an order to buy or sell a specified quantity of a currency at a specified price. Limit orders will only ever be filled at the specified price or a better price. Therefore a Limit order can be placed in the market where it will sit indefinitely unless filled.
Buy Limit Order example
In the Buy Limit order slip below, the user has specified a BTC/USD limit price of $55,200 at which they are prepared to buy 1 BTC
The user can see that their desired buy price is lower than the best ask price in the market therefore this order will sit in the orderbook and only be filled if the market moves towards it. i.e if BTC drops low enough.
The Total Buy shows how much BTC will be bought at that limit price if it is executed
A Limit Buy order may execute at the limit price or better if better prices are available
Sell Limit Order example
In the Sell Limit order slip below, the user has specified a BTC/USD price of $58000 at which they are prepared to sell BTC
Their desired sell price is higher than the best bid price in the market therefore this order will sit in the orderbook and only be filled if the market moves towards it. i.e if BTC rises high enough.
The "Total Sell" shows how much BTC will be sold at that limit price if it is executed
A Limit Sell order may execute at the limit price or better if better prices are available
Refer to this article for more information on INX Order Types
Examples, diagrams, and charts are for illustrative and educational purposes. INX relies on information from various sources believed to be reliable, including from customers and third parties, but cannot guarantee its accuracy or completeness. INX is not engaged in the business of the offer, sale or trading of securities, is not registered with the U.S. Securities and Exchange Commission, and does not provide legal, tax, or investment advice. Cryptocurrency and other digital asset holdings are speculative in nature and involve substantial risk, including the risk of complete loss. Learn more about these risks here.
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