How to Use Limit Orders on Coinbase Advanced Trade (Full Tutorial)

Now that limit orders on Coinbase are only officially on their Advanced Trade platform, let’s explore how to use the limit order function for buying and selling various crypto assets.

If you’re new to trading, a limit order allows you to ensure that you’re buying or selling crypto at the desired price you wish to buy or sell it for vs a market order which just executes your order automatically depending on the next bid or ask in the order book.

It really helps you take your trading to the next level. When you use limit orders for a buy order, the trade will be completed only if the price reaches the desired limit price or lower which is even better, and conversely, when you use a limit order to sell a cryptocurrency, the trade will only be executed if the price reaches the specified limit price or higher which would obviously be better. So in its most basic explanation, limit orders allow you to accurately control the price you wish to buy or sell cryptocurrencies.

The Different type of Orders offered by Coinbase:
Good til canceled – order will remain in the order book until it is triggered, and if it’s not triggered it’ll just sit there.
IOC – Immediate or Canceled – An order that is placed that if it isn’t immediately able to be filled, it will automatically be canceled and removed from the order book
Fill or Kill FOC – an order that only executes if the entire order can be filled, partial orders do not fill, an entire order has to go through in order to be filled.

If you're new to Coinbase, an order book is a list of orders (bids and asks) – basically a current record of interest from buyers and seller, once an interest criteria is met for both a buyer and a seller, a match is made and an order is executed and removed from the order book.

Let’s talk about it in the comments section…

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**I am not a financial advisor or crypto advisor; this video is meant to be used for entertainment purposes only and represents only my personal opinions**

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0:00 Intro
0:30 Limit Orders
2:45 Placing a Limit Order
4:00 Fees
4:40 order Types
7:00 Order Book
9:50 Limit Order Options
11:55 Closing Thoughts

#Coinbase #LimitOrder #Cryptocurrency