A Market Order is a type of order used to buy or sell an asset immediately at the best available price in the market. Market orders fulfill the existing liquidity by executing against limit orders already listed in the order book.
Unlike limit orders, which wait for a specified price to be reached, market orders are executed instantly at the current market price. This makes you a market taker, which typically involves higher fees since you're not waiting for a specific price to be matched.
How to Place a Market Order on BTSE.ID
To create a market order, simply:
Log in to your BTSE.ID account.
Choose the trading pair you want (e.g., BNB/IDR).
Go to the trading screen and select the “Market” tab.
Enter the amount of the asset you want to buy or sell.
Click Buy or Sell.
Once the order is processed, your trade will be immediately confirmed and recorded in your trade history.
A market order will fill the lowest available sell limit in the order book. However, if your order is larger than the available liquidity, slippage may occur—this means the actual execution price could differ from the expected price.
When Should You Use a Market Order?
Market orders are especially useful when speed is more important than price, such as in the following situations:
You want to execute a trade immediately, especially during rapid price movements.
You need to exit a position quickly or fulfill an overdue order.
Note: If you're new to crypto and using Bitcoin to buy altcoins, avoid using market orders, as it may lead to paying more than necessary, especially in low-liquidity markets. In such cases, it's better to use a limit order for better control over the price you pay.
Conclusion
Market orders are great for fast transactions, but you should be aware of potential additional costs due to slippage. Always consider the market situation and your specific needs before choosing this type of order.
If you need further assistance or run into any issues, feel free to contact BTSE.ID Customer Support.
Happy trading on BTSE.ID!
