Market Order

In crypto trading, a Market Order, as opposed to a Limit order, is an order that lets a trader buy or sell a cryptocurrency immediately.

Sometimes market orders are marketed as instant orders.

When a market order is placed, a trader doesn’t have to wait for the asset he’s buying or selling to reach a certain price.

Market orders don’t guarantee the exact price that you see on the screen, but market orders are the fastest way to buy or sell.

Market orders are super simple and the most basic of all order types.

Market orders will go to the order book and look at the limit orders already placed.

Remember, there are always two sides to a trade – the maker and the taker.

Your market order will be matched to an existing limit order, and you will “take” the price set/made by another trader.

How fast your order gets filled depends on the liquidity of the exchange and the asset that you’re trading.

Related Terms

Limit Order

An order that lets a trader buy or sell a cryptocurrency at a specific price or better. When a limit order is placed, a trader has to wait for the asset he’s buying or selling to reach a certain price. Limit orders will go to the order book and look at the limit orders already placed. The order book will fill the order once the last price reaches the limit price or better.

Buy Wall

Buy Walls occur on exchanges when a massive buy order or combination of several large buy orders that all have the same price in the order book for a specific cryptocurrency. The existence of buy walls has the effect of driving prices up even before it’s filled because a cryptocurrency’s supply will go down considerably once price hits the buy wall and orders are filled.

Peer-to-Peer (P2P)

Describes the sharing of data or assets between 2 or more parties without any central authority making the transaction happen. P2P exchanges tend to offer transactions that are censorship resistant, cheap, private, and secure.

Binance

Binance is the largest cryptocurrency exchange by daily trading volume in the world. It experienced US $34 trillion in trading volume in 2021. The Binance trading platform is known for low trading fees, a large number of supported cryptocurrencies, and a large number of order types, including Limit orders, market orders, stop-limit orders, trailing stop orders, post-only orders, peer-to-peer trading, margin trading, and one-cancels-the-other orders

Shitcoin

A crypto altcoin that’s got no real purpose for existing. Shitcoins, while subjective labeled as such, promise you the world, maintain price or even increase in price while the hype around them is high. However, shortly after buying a bag, the sh*tcoin takes a fat nosedive off a cliff as the altcoin is sold off into oblivion by traders looking for profits.