Market Price Vs Limit Price

[Kongxx]

Do you prefer to use limit price or market price when doing crypto trading? What are the pros and cons?

[adaseb]

Market or limit orders are the same in cryptos as they are everywhere else.

When you are a maker, you usually have lower fees or you get paid a fee. When you are a taker you have a higher fee generally.

If you are day trading then using limit orders will make you save lots on fees. However sometimes taker fees are unavoidable such as during a stop market order.

With stocks it's similar, besides the commission your broker charges you are charged exchange fees when you remove liquidity and on some exchanges get a premium when adding liquidity.

If you are in a rush, just use a market order. If you can wait then do a limit order.

[kanayaTabitha]

Do you prefer to use limit price or market price when doing crypto trading? What are the pros and cons?

I always use limit price since i've already decide when i want to buy and when i want to sell before i entered a trade. And also sometimes at most exchanges market price fee is higher than limit price fee.
So i think we can save some fee when we order with limit price, we just need to more patient to get our order got by the buyers or the sellers, the fee difference is not much but if we did 1000 trades it will be decent amounts.

[MURONDI]

Do you prefer to use limit price or market price when doing crypto trading? What are the pros and cons?

depending on the situation and conditions, sometimes using a price limit sometimes using a market price, when in a hurry I will use market prices, but when I have time to relax sometimes use market limits.

[mk4]

If you're a day trader, of course you use limit orders. With day trading whereas you're trading the very small price swings, you definitely want to buy at your target prices. With market orders, you could potentially buy/sell in at bad prices, especially when liquidity is low. In a long term trading perspective though, market orders should be fine if you want to get your funds out as soon as possible.

[iamaruf]

I always use limit price. Because i want to put my sell orders my own prices. I saw one user told that market price and limit price is same.how? Market price is the price that buyers want to buy (price).In limit you can put your own price.like you can put 1ETH selling for 1BTC.if you guys things that both are same then please explain it to me.
I think market price and limit prices are different.sometimes i use market price when i am in hurry to sell my coins. 

[NathanJB]

Do you prefer to use limit price or market price when doing crypto trading? What are the pros and cons?

If you use the market price, you are like plainly converting your coins, the thing that you do with conversion or remittance and payment apps. The price is pre-determined and you only have to swipe and your coins are converted into whatever fiat or other coins you choose. In an exchange platform, people are usually choosing their own price. It is based on the current buy and sell prices and the movement of the spread and prices. You are hardly a trader if you are using the market price in your orders.

[Apened]

Do you prefer to use limit price or market price when doing crypto trading? What are the pros and cons?

It really depends in case scenarios if i think that the train or the coin is about to pump i will use market price - this is used for a quick buying order to be executed.
In another trade that i am doing is mostly a limit price where i am waiting for a certain price to reach or it for that price to trigger my order.
Learn how to use it effectively and take advantage over that market and limit setups.

[Shasha80]

In trading I always prefer to use a limit price, because of course the fee is cheaper than the market price.
Frankly, I have never used a market price other than high fees, if i want to buy or sell coins always do not
want to rush. Because in trading I'm always full of planning so no need to rush. Moreover I'm very happy
do day trading which can be several times a day transactions, if i use a limit price of course can save more fee.

[Heisenberg_Hunter]

In shady exchanges like bitforex, I have seen at times the limit price exceeds from the market price of the currency and even after quoting the price lower price, the order would never pass.  Either way in terms of reputed cryptocurrency exchanges like Binance I would go for Limit Price since they would provide me with the expected profits over time. On the other hand, Market Price would be used to sell the currency immediately without waiting for the order to get passed.

Both Limit and Market price has its own pros and cons ranging from the immediate profits, withdrawals etc. For most of the time during trading, I would go for the Limit Price and would probably wait for the order to get filled.

[josephdd1]

I stay well away from the market price when dealing with highly volatile cryptocurrencies.

I've been trading low cap coins for quite some time, often you'll see huge spikes within seconds, which can lead to you being completely screwed when using the market price.

Limit price is ideal for both large and small cap coins, since it basically lets you choose your entry point. No chance of getting caught out by a huge wick.

[Hypnosis00]

Do you prefer to use limit price or market price when doing crypto trading? What are the pros and cons?

I actually use both of them depending on the market situation and also the coins we're going to trade. But often I used Limit price when I have to do trading all day but if I have limited time in trading( doing short trades every day), I'll consider market price if it satisfies me and when I feel I've gain already.
Setting into the limit price is worth gaining into our side but sometimes it takes so long before buyers will take it which it sometimes we also feel bored and do the market price again.

[leowonderful]

I usually use limits to enter and exit whenever possible, though there are times when I will enter using limit orders and exit using market orders when things are moving rapidly as it often happens with crypto. I especially like to use limit orders when the markets are moving slowly or when I'm just letting a trade run when I'm not actively watching it. You don't always need to pay the cost of speed. I also use market orders for stops, especially on leveraged trading sites like Bitmex or Bybit when prices can move extremely rapidly and jump over where your limit stop is set to execute. That's one instance where it's a good idea to pay for the speed that a market order provides.

Some sites, especially leveraged trading sites such as Bitmex, Bybit and Deribit, give you a rebate on fees when you use limit orders because you're helping to provide liquidity by making a limit order, and that helps to offset the fees associated with market orders a little bit.

[exstasie]

Do you prefer to use limit price or market price when doing crypto trading? What are the pros and cons?

You need to think about fees and order book liquidity. Others have mentioned the prominent maker/taker fee model. Limit orders are generally cheaper, though some exchanges like Binance employ a flat fee model where there is no difference.

Slippage can be an issue with market orders in a low liquidity environment. Limits orders ensure your orders only execute at the intended price.

On the other hand, your limit orders are not guaranteed to be filled either, which can result in huge losses if you aren't careful. Let's say the price is crashing and you're long. If you set limit sell orders above the spread, the market may keep crashing without filling your orders. Market selling can save you quite a lot of money in that situation.

[1Referee]

Market selling can save you quite a lot of money in that situation.

It can cost you a lot too when a lot of liquidity disappears because it was never meant to provide any support, just to make the orderbook appear healthy. There have been various instances where people ended up selling waaaaay below what they thought they would sell at. I rather just sit it out and wait a bit than to market sell amidst the massive panic selling that's happening.

It's less likely to happen on exchanges such as Coinbase, but not every trader and their dog are using that platform.

[Wexnident]

Limit Prices are generally much favorable whenever talking about making a profit. Besides, Market Price offers the fastest transaction possible so I doubt that you would often use it, other than when you really need the cash. That is just basing on the definition of the usage of each one, but it could change depending on situations. I'm more inclined with Limit Prices since I could wait, but its quite risky at times since the order may not even go through. But it is a lot more advantageous if the market meets your Limit price though, so its really a matter of situation. You never know how the market could go so ordering a Limit price may or may not have the results you wanted.

[beerlover]

Market price only when I want to sell out and get out quickly to cash into fiat. Limit when I am doing regular trading. If you are looking to make a profit then trading with market makes no sense, I have waited for almost a whole week just to sell a small coin on limit price instead of market price which resulted with me making 10% more profits because the spread was huge and volume was low.

It takes a long time when it is a small one but when you are doing something huge like usdt-btc for example then you are not waiting at all which makes no sense to use market in that matter. However market is there just in case you need to get out very quickly and you want to save time, it would be in a second and you will have the currency you want in your hands instantly.

[exstasie]

Market selling can save you quite a lot of money in that situation.

It can cost you a lot too when a lot of liquidity disappears because it was never meant to provide any support, just to make the orderbook appear healthy. There have been various instances where people ended up selling waaaaay below what they thought they would sell at. I rather just sit it out and wait a bit than to market sell amidst the massive panic selling that's happening.

That may seem intuitive, but in my experience it leads to bagholding. In BTC it's not uncommon to see a 10% drop in an hour. There's no way slippage could net a loss like that on any of the standard tier exchanges. Maybe on Bitmax or some of these other no-name exchanges.

Also, if you want to execute a market sell with a limit on price, just set a limit sell order below the spread. It acts like a market sell unless there are no bids at/above the limit. That will prevent the scenario you outlined above.

[zeze18]

Limit Prices are generally much favorable whenever talking about making a profit. Besides, Market Price offers the fastest transaction possible so I doubt that you would often use it, other than when you really need the cash. That is just basing on the definition of the usage of each one, but it could change depending on situations. I'm more inclined with Limit Prices since I could wait, but its quite risky at times since the order may not even go through. But it is a lot more advantageous if the market meets your Limit price though, so its really a matter of situation. You never know how the market could go so ordering a Limit price may or may not have the results you wanted.

Yeah using market price is just only when we are the first one saw the big good news for a coin and we won't our order go through if we use a limit price. So, we will quick buy the coin to make a quick profits. But for daytrading and doing technical analysis for many charts, we should do limit price for a better profits.

[BitcoinsGreat]

Do you prefer to use limit price or market price when doing crypto trading? What are the pros and cons?

 I use both the limit price and market price when doing the trading. Sometimes when i see a coin has pumped and is towards the dumping phase, i usually place market order to get my coins sell at the current good rates and do not risk waiting.
On other cases, i place limit orders where i want to sell / buy coins at my pre-decided prices.
If you are a professional trader, you will be using the both.