What are order types?

The cryptocurrency market can be volatile. Ensuring you receive the best buy/sell price can be time-consuming. Change offers three types of market orders to help mitigate the risk of missing a good buying or selling price.

Just bought Bitcoin? Setting a Limit Order will allow you to put down your phone and let Change make the trade when it jumps 5%. Worried about a market drop? Setting a Stop Order will allow Change to convert your Bitcoin back to Euro around the price target you’re most comfortable with. Just want to get the best price possible instantly when making a crypto-purchase? Creating a Market Order will allow Change to find that for you through multiple exchanges.

1. Market Order

This is the simplest and easiest form of order type available through Change. Setting a Market Order allows you to choose how much of a particular asset you’d like to buy or sell, instant transaction will be made at the best available price.

2. Limit Order

Placing a Limit Order allows you to set the estimated rate you’d like to buy or sell a particular asset for; Change will execute that transaction at that price or just slightly lower (buy) or above (sell) it based on how quickly the market moves.

3. Stop Order

Similar in style to a limit order, placing a Stop Order allows you to ensure that an owned asset is sold to prevent loss (sometimes referred to as “stop loss”). Placing a Stop Order can be helpful in ensuring that your invested balance remains through market drops so you can keep investing the maximum amount possible every time you reenter the market.

If you have any questions just send us a message through the app or via support@getchange.com.