What is the meaning of limit price when buying Bitcoin?

3 answers

• santotelliOct 26, 2021 · 4 years ago
  Sure! When you place a buy order for Bitcoin, you have the option to set a limit price. The limit price is the maximum price you are willing to pay for Bitcoin. If the market price reaches or falls below your limit price, your buy order will be executed. If the market price is higher than your limit price, your order will not be filled. Setting a limit price allows you to have more control over your purchase and helps you avoid paying more than you're comfortable with.
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• Prachi SharmaJul 27, 2022 · 4 years ago
  Limit price is like setting a budget for buying Bitcoin. It's the highest price you're willing to pay. Let's say you want to buy 1 Bitcoin and the current market price is $50,000. You can set a limit price of $49,000, which means you're only willing to buy if the price drops to that level or lower. If the price never reaches $49,000, your order won't be executed. It's a way to protect yourself from buying at a higher price than you want.
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• Ankit ChowdharyJun 10, 2024 · 2 years ago
  When buying Bitcoin, the limit price is the maximum price you're willing to pay. It's like setting a threshold for your purchase. Let's say you believe that Bitcoin is overvalued at $60,000 and you only want to buy if the price drops to $55,000 or lower. By setting a limit price of $55,000, your order will only be executed if the market price reaches or falls below that level. It's a useful tool for traders who want to buy at a specific price point.
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