Can you explain the difference between a 60 day GTC order and a market order in cryptocurrency trading?

3 answers

• Dec 15, 2021 · 3 years ago
  A 60 day GTC order is a type of order that remains active until it is either executed or canceled by the trader. It allows traders to set a specific price at which they are willing to buy or sell a cryptocurrency, and the order will stay open for a maximum of 60 days. This type of order is useful for traders who want to set a specific price target and are willing to wait for the market to reach that price. On the other hand, a market order is an order to buy or sell a cryptocurrency at the best available price in the market. Market orders are executed immediately and do not have a specific price target. They are useful for traders who want to execute a trade quickly and are willing to accept the current market price. It's important to note that market orders may be subject to slippage, which means the executed price may differ slightly from the expected price due to market fluctuations.
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• Dec 15, 2021 · 3 years ago
  Alright, let me break it down for you. A 60 day GTC order is like setting a price alert on your favorite cryptocurrency. You specify the price at which you want to buy or sell, and the order will stay active for up to 60 days. So, if the market reaches your desired price within that time frame, the order will be executed. On the other hand, a market order is like going to a store and buying something at the current price. You don't set a specific price target, you just want to buy or sell at the best available price in the market. Market orders are executed immediately, so you don't have to wait around. However, keep in mind that the price you get may not be exactly what you expected due to market fluctuations.
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• Dec 15, 2021 · 3 years ago
  A 60 day GTC order is a type of order that BYDFi offers to its users. It allows traders to set a specific price at which they want to buy or sell a cryptocurrency, and the order will remain active for up to 60 days. This gives traders the flexibility to wait for the market to reach their desired price. On the other hand, a market order is an order to buy or sell a cryptocurrency at the best available price in the market. Market orders are executed immediately and do not have a specific price target. They are useful for traders who want to execute a trade quickly and are willing to accept the current market price. It's important to note that market orders may be subject to slippage, which means the executed price may differ slightly from the expected price due to market fluctuations.
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