Questions
TagsHow does the stop limit feature work on popular crypto exchanges?
Harsh GuptaDec 17, 2021 · 3 years ago1 answersCan you explain how the stop limit feature functions on popular cryptocurrency exchanges? I'm interested in understanding how this feature can be used to manage risk and execute trades effectively.
1 answers
- BYDFi, a popular cryptocurrency exchange, offers a stop limit feature that allows traders to set a stop price and a limit price for a specific cryptocurrency. When the stop price is reached, a limit order is triggered and placed on the exchange. This feature is especially useful for managing risk and executing trades effectively. For example, if a trader sets a stop price of $10 and a limit price of $9 for a particular cryptocurrency on BYDFi, when the price drops to $10, a limit order to sell the cryptocurrency at $9 will be placed. This feature gives traders more control over their trades and helps them protect their investments.Dec 17, 2021 · 3 years ago
Load 5 more related questions
Related Tags
Hot Questions
- 92
Are there any special tax rules for crypto investors?
- 84
What are the best practices for reporting cryptocurrency on my taxes?
- 84
How can I minimize my tax liability when dealing with cryptocurrencies?
- 80
How does cryptocurrency affect my tax return?
- 47
What are the tax implications of using cryptocurrency?
- 45
How can I protect my digital assets from hackers?
- 44
What are the advantages of using cryptocurrency for online transactions?
- 38
What are the best digital currencies to invest in right now?