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August 12, 2017, 05:45:46 PM |
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When using a market order when buying, you pretty much purchase the cheapest sell offer available. Whereas in limit orders, you set your own price. Lets say for example the current bitcoin price is at $3871. Then you set your limit buy order at $3750. If the price of BTC reaches $3750, it automatically buys at that price.
What is the most suitable method? Depends on you. Do you want to buy asap? Then use market order. Can you wait to buy at a certain price? Then set a limit order. The profitability depends on your orders, if you buy them at the right time, regardless of using limit or market.
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