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Coinsquare users, your crypto trading experience just hit a new milestone. With the exclusive debut of 'Limit Orders' on the mobile app, your control over buy and sell transactions is now more powerful than ever. This isn't just a tweak on the interface; it's an additional tool that empowers you to fine-tune your trades on the go.
We are excited to introduce a new feature to enhance your trading experience on the Coinsquare App - 'Limit Orders'. This will allow you to have more control over buy and sell transactions, allowing for precise adjustments to your investments and overall portfolio.
In this comprehensive guide, we'll walk through the benefits of the new Limit Orders feature introduced on Coinsquare.
On the Coinsquare app, you can now place Limit Orders on the following assets: Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Ripple (XRP), Solana (SOL), Litecoin (LTC), and Bitcoin Cash (BCH).
Why use Limit Orders? Because they grant you the control to buy or sell an asset at a price that you set. This is an invaluable tool for anyone serious about trading; you no longer have to constantly watch the market and wait for the price to hit your sweet spot. Instead, place your order and Coinsquare's system will execute the order according to the fill instructions selected.
To buy or sell an asset using a Limit Order, you simply set the price you want the order to execute. It's trading on your terms, defined by your strategy.
Once you've decided on the asset and price at which you want to set a limit buy or sell, the next step is to select the fill instruction that aligns with your buying or selling approach. Coinsquare offers three essential fill instructions:
This order remains in the system until you cancel or it's filled. It's perfect for long-term strategies where you're looking to make a trade at a specific price that might not align with current market conditions. This is the default option for all new limit orders.
This fill instruction demands the entire order to be filled entirely otherwise the system cancels the entire order. It's a good choice for active traders who are looking to capitalize on very specific market movements.
With this order, the system will try to execute all or part of the order as soon as it's placed, but if it can't be fulfilled entirely the remaining volume will be cancelled back to the trader and removed from the order book.
Understanding these options is crucial in ensuring your Limit Order behaves exactly as you intend it to, executing in a manner that complements your trading strategy.
One of the most powerful aspects of Limit Orders is the flexibility they offer. You have the leeway to cancel or modify your orders at any time, before they are executed. On your mobile app, this can be done through by clicking on "More" in the bottom bar and then checking your Open Orders in your "Activity" section. On desktop, navigate to "Activity" to see your Open Orders.
Limit Orders are not just another feature on the Coinsquare app; they are a useful tool for any type of trader. Log in to your Coinsquare app and check out the feature today!
