【Trading】How to trade cryptocurrency on TideBit ? – TideBit

Updated on 02 Dec, 2019

When you have fiat currencies or cryptocurrencies in your TideBit account, you are ready to trade. If you make a trade, the fiat currencies or cryptocurrencies will be in your TideBit account immediately.

There are two ways to trade: A. Limit order, B. Market order

A. Limit order

A limit order is an order that you place on the order book with a specific limit price. The limit price is determined by you. So when you place a limit order, the trade will only be executed if the market price reaches your limit price (or better). Therefore, you may use limit orders to buy at a lower price or to sell at a higher price than the current market price.

[How to use it?]

Let’s say you want to sell BTC at a higher price than what is currently being bid. After logging in to your TideBit account, choose the BTC market you want (e.g., BTC/HKD) and go to the trading page. Then, find the Limit order tab, set the price and amount, and click the Sell BTC button.

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After that, you will see your order in "Ask" order book.

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If you want to cancel it, click " Cancel Asks" in "My Orders".

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B. Market order

A market order is an order to instantly buy or sell at the best available price. It is executed based on the limit orders that are already located in the order book, meaning that market orders depend on market liquidity to be completed.

Take an example：

In BTC/HKD trading pair, If you choose market order to buy 0.4 BTC, then you need pay 57697.37 x 0.3 + 57717.28 x 0.1 = 23,080.939 HKD.

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