Those who like to get into cryptocurrency and are trying to lay better profits in front of them; always go through thorough information. For this type of information, the user has to go for research on the internet. But with the help of order and its types, people will be able to redefine the concept of cryptocurrency exchange because they will be able to work on their own and at the pace, they see fit.
What is meant by order in cryptocurrency exchange?
Order is the most important and crucial part of the exchange of cryptocurrency. With the help of orders, we can get to know about the terms and conditions of the exchange and how to use it. Or we can say that it is a type of a set of instructions on how to make the trade and what is better for the exchange.
With the help of different types, it will be easy for the user to know what they are looking forward to doing and what suits their exchange style. There are many companies for this aspect, and the one that is well known for this is Bikkex Digital Limited, and it is a legit one as it has a registration in Hong Kong. There are different types of orders; let’s go and check some of them out,
- Market order: When the person has to buy or make the sale of the order at the best available price at the time. So when people place the order immediately, it is known as the market order. It is the most famous one and is used when the trader prioritizes the order instead of the one that is already executed.
- FOK order: It is also known as Fill or Kill order. In this, The trader has to Immediately fill for it or get canceled. It is also known as the All or None, and this one is for the trade for the larger quantity.
- Immediate or cancel an order: In this, either the entire order or the part of the order is executed immediately. So the unfilled parts are canceled right away, and the partial ones tend to fill or get canceled right away.
- Limit order: The one where traders use this to buy or sell the order for a better price. The order can help the trader set a limit on it and then give some time to stand like an outstanding one or directly cancel it.
There are more types of orders, and with the help of all these orders, the trader can choose as per their preference. This way, they can know what they want, and this way, it will be better for their cryptocurrency exchange. It is something that everyone looks for.
Finally, there are many companies in the market and on the internet that will help the trader earn the type of profit they want. Because they will be able to choose the platform based on the profit they want to earn from it.