Market or Limit Order?

[Malvado]

As you can see from the subject name, I don't know what the difference is. I recently signed up to CoinMKT and wanted to invest in some cryptocurrency. It asks me whether I want Market or Limit Order. What should I choose, and why?

[fxkevin]

A market order means that you are willing to take whatever the current market price is, and depending on your order size you may see partial fills at different prices as the top of the book may not be large enough to complete your order.

When you use a limit order you are giving instructions that you wish to be filled ONLY at your given price or better.

Cheers,

[Jcw188]

I've used Coinmkt.  Beware that there is low volume.  THat means that often it's like there is a big price between the best sell and ask price.

In other words I'd def use limit order at Coinmkt.  If you are going to use market order make sure you look at the best bid/ask price (whatever you're doing) and make sure it's not a  ridiculously low or high price.  I have seen plenty of very low bid prices for BTC, like $1, and it's only like 1 or 2 BTC away from being filled if someone incorrectly uses a market order.

[Malvado]

Thanks for quick replies  . So LIMIT is what is recommended then? I'm just starting on this cryptocurrency thing and I don't plan on starting off with a big investment.

[jimmyjimmy]

It's ok to invest in some crypto,
you should choose to limit order