Understanding the basics of order books and what a limit order is when it comes to cryptocurrency trading.
An order book offers a live display of all active buy and sell orders for a particular digital asset, empowering traders with crucial insights into market dynamics.
These orders are then matched by a cryptocurrency exchange to facilitate trades. Cryptocurrency order books can be seen on major exchanges, like Binance and Coinbase.When it comes to trading digital assets like bitcoin, predicting price movements can be uncertain. However, there's a tool on exchanges that offers more control over trades: limit orders.
Conversely, if a trader sets a sell limit order, known as an ask, the asset could keep dropping. And if the asset doesn't hit the desired price, or there aren't enough matching orders to fill the set price, it may only get partially filled or not filled at all. The matching of these bids and asks is what ultimately leads to trades being executed. This matching process is automated on trading platforms, ensuring efficiency and efficacy.
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