Placing a Stop Order allows you to ensure that an asset you own is sold to prevent loss (sometimes referred to as “stop loss”), but also can be used when buying.The order will be executed at your target price or slightly lower (when selling) or above (when buying), based on how quickly the market moves.
Here’s how to set up a Stop Order:
- Tap on the ‘Prices’ tab in the bottom of the screen
- Choose your desired asset
- Select ‘Buy’ or ‘Sell’
- In the upper-right corner of the screen, tap on ‘Market order’ and select ‘Stop Order’
- Read the brief explanation of Stop Order
- Specify the maximum price per coin that you’re willing to buy or sell at
- Enter the amount you would like to buy or sell; preview and confirm
Creating a Stop Order will immediately lock your balance for the amount of that order. You can still view how much of a particular asset (including Euro) you own from your portfolio screen. However, you can’t invest that balance until the Stop Order is cancelled or completed.
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