How to Place Limit and Market Orders in BYDFi Spot Trading (APP)

In BYDFi Spot Trading, the two most common order types are Limit Orders and Market Orders. Knowing how these orders work will help you trade more efficiently, manage risks, and avoid unnecessary fees.

What Is a Limit Order?

A Limit Order lets you set a specific price to buy or sell cryptocurrency.

• Buy Limit Order: Executes only when the market price matches or is lower than your limit price.
• Sell Limit Order: Executes only when the market price matches or is higher than your limit price.

👉 With limit orders, you set the price instead of accepting the current market rate.

Key Features of Limit Orders

• Placed on the order book at your chosen price.
• Often result in lower trading fees (you are the maker).
• Not guaranteed to be filled — if the market doesn’t reach your price, the order remains open.

Example of a Limit Order

You want to sell 1 BTC at $30,000, while the current price is $28,000.

• Place a Sell Limit Order at $30,000.
• If BTC reaches $30,000 or higher, your order will be executed.
• If BTC never reaches $30,000, your order stays open.

When to Use a Limit Order

• You want to buy below or sell above the current market price.
• You are not in a rush to trade instantly.
• You want to lock in profits or minimize losses.
• You prefer breaking large trades into smaller orders.

⚠️ Note: Limit orders may be partially filled depending on market liquidity.

How to Place a Limit Order on BYDFi App

1. Log in to your BYDFi account and tap Spot.

2. Select the trading pair (e.g., BTC/USDT, BTC/USDC).

3. On the order panel, choose Limit.

4. Enter: The price you want to trade at. The amount (or use 25%, 50%, 75%, 100% quick buttons).

5. Tap Buy or Sell to confirm.

6. Track your open limit orders in Orders.

What Is a Market Order?

A Market Order allows you to buy or sell crypto instantly at the best available market price.

• Fastest way to execute a trade.
• Price may vary due to slippage (price changes during execution).

Key Features of Market Orders

• Executed immediately at the market price.
• Removes liquidity (you pay taker fees).
• Simple and fast — ideal for urgent trades.

Example of a Market Order

You want to buy 0.1 BTC and the market price is about $24,800.

• Place a Market Buy Order.
• The system matches it with the lowest sell order (e.g., $24,796.20).
• Your BTC is purchased instantly.

⚠️ Large market orders may require multiple matches, causing slippage and a higher average price.

When to Use a Market Order

• You need to trade immediately.
• You are trading high-liquidity coins like BTC or ETH.
• You want to quickly open or close a position.

👉 Avoid market orders on low-liquidity altcoins to prevent heavy slippage.

How to Place a Market Order on BYDFi App

1. On the order panel, choose Market.

2. Select Buy or Sell

3. Enter the amount then tap buy or sell to confirm

4. View completed trades in Order History / Trade History.

Limit Orders vs. Market Orders

Summary

• Limit Orders: Best for traders who want control over price, patience, and lower fees.
• Market Orders: Best for traders who need speed, simplicity, and guaranteed execution.

For beginners, Market Orders are easier to start with. For more experienced traders, Limit Orders provide precision and cost savings.