How to Place Limit and Market Orders in BYDFi Spot Trading (PC)

In cryptocurrency spot trading, two of the most common order types are Limit Orders and Market Orders. Understanding how these orders work will help you execute trades more efficiently, manage risks, and reduce unnecessary costs.

What Is a Limit Order?

A Limit Order allows you to set a specific price at which you want to buy or sell an asset.

• A Buy Limit Order is executed only when the market price reaches your set limit price or lower.
• A Sell Limit Order is executed only when the market price reaches your set limit price or higher.

👉 With limit orders, you control the price instead of accepting the current market rate.

Key Features of Limit Orders

• Placed directly on the order book at your chosen price.
• May result in lower trading fees (as you act as a maker).
• Not guaranteed to be filled — if the market never reaches your limit price, your order will remain open.

Example of a Limit Order

You want to sell 1 BTC for $120,000, but the current price is $114,000.

• You place a Sell Limit Order at $120,000.
• Once BTC reaches $120,000 or higher, your order will be filled.
• If it never reaches $120,000, your order will remain open.

When to Use a Limit Order

• You want to buy below the current market price or sell above the current market price.
• You are not in a rush to trade immediately.
• You want to lock in profits or minimize losses.
• You prefer splitting large trades into smaller ones.

⚠️ Note: Limit orders may be partially filled depending on market liquidity.

How to Place a Limit Order on BYDFi (PC)

1. Log in to your BYDFi account and go to the Spot Trading page.

2. Select the trading pair you want (e.g., BTC/USDT, BTC/USDC).

3. On the order panel, select Limit.

4. Enter: The price you want to buy/sell at. The amount you want to trade (or use percentage buttons for 25%, 50%, 75%, 100%).

5. Click Buy or Sell to confirm.

6. You can view your active limit orders under "Open Orders".

What Is a Market Order?

A Market Order allows you to buy or sell instantly at the best available market price.

This is the fastest way to execute a trade, but the exact price is not guaranteed due to slippage (price differences caused by market volatility).

Key Features of Market Orders

• Executed immediately at the current market price.
• Removes liquidity from the exchange (you pay taker fees).
• Simple and fast, ideal for urgent trades.

Example of a Market Order

You want to buy 0.1 BTC and the market price is around $114,000.

• You place a Market Buy Order.
• The system matches your order with the lowest sell order in the order book (e.g., $114,119.53).
• Your BTC is bought instantly at that price.

⚠️ If you place a large market order (e.g., 0.5 BTC), the system may match multiple sell orders to fill your trade. This may result in a higher average price — a process known as slippage.

When to Use a Market Order

• You need to trade immediately without waiting for a specific price.
• You are trading high-liquidity coins like BTC or ETH.
• You want to quickly open or close a position.

👉 Avoid market orders on low-liquidity altcoins, as slippage may be significant.

How to Place a Market Order on BYDFi (PC)

1. On the order panel, select Market.

2. Enter the amount you want to buy or sell.

3. Click Buy or Sell to confirm.

4. You can view your completed trades under Order History or Trade History.

Limit Orders vs. Market Orders

Summary

• Limit Orders: Best if you want control over price, are patient, and want lower fees.
• Market Orders: Best if you want speed, simplicity, and guaranteed execution.

Both order types have advantages depending on your strategy.

For beginners, Market Orders are easy to use, while Limit Orders are better for traders who want precision and cost efficiency.