A cryptocurrency exchange is always a trend-set business in this digital world, so this will be an effective business in the global market in the future. So this is the perfect time to jump into the crypto industry.
Now we can see the common orders in a crypto exchange,
Stop-Loss Order
Stop - Loss order is designed entirely to protect traders from significant losses. It is a kind of limit order, one can predefine the price of an asset but it will not be added to the order book. The Exchange platform considers it as a market order and converts it as a market order when the defined price value hits
Stop-Limit Order
Stop - A limit Order is the same as the stop loss order but you can define the stop price as well as the limit price. It lets you set a limit between the range of values. For Instance, one can set a limit order as 9K USD and 9100 USD for 1 USD.
One Cancels the Order (OCO)
It is the kind of tool where one can combine two orders and a trader can execute one among them which is most favorable for the market. then the other order is canceled automatically.
For example, if The Price of BTC is 30K USD, one can place both a buy order and a sell order if the BTC price increases, he uses a sell order, and if the price decreases, he uses a buy order.
Immediate or Cancel (IOC)
It facilitates users to cancel orders which are not filled. If you order 20 BTC but at the execution price, you only get 10 BTC, the rest of the order would be closed.
Kill or Fill Orders (FOK)
Fill or Kill facilitates filling the order immediately or canceling it. If a trader orders 20 BTC, If half of the order is filled in a certain time, the entire order would be canceled.
I hope this information is useful for your crypto knowledge. If you want to know more info about crypto exchange orders explore this: A Complete Guide on Different Types Of Orders in Cryptocurrency Exchanges. (or ) You can contact any cryptocurrency exchange development company, Like Bitdeal, they provide complete details about crypto exchange orders, and also they help you to launch your own crypto exchange platform by providing the best cryptocurrency exchange script.
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