Cryptocurrency prices can change rapidly. Limit Orders offer you more control over your investing strategy by allowing you to set your desired trading price and frees you from the need to constantly watch the market.
How to Place a Limit Order From your Desktop Browser
Log in to your account at https://app.bitcoinira.com/login.
Go to the Self-Trading page via:
The Trading widget on the dashboard, or
The “Self-Trading” link on the left side navigation.
Choose the Account you want to trade within.
Select your order direction (Buy or Sell).
Select the cryptocurrency Asset you want to trade.
Set the Order Type to Limit Order.
Enter your desired Limit Price. NOTE: If you set a limit price more than 50% above or below the last traded price, your order may take longer to trigger.
For BUY orders, the limit price must be lower than the current market price.
For SELL orders, the limit price must be higher than the current market price.
Enter your desired Amount.
Amount must be at or between $10 minimum and $500,000 maximum.
Review the order details, click the checkbox to agree to the Terms & Conditions, then click the Place Order button.
Congrats, your Limit Order request has been created! Learn how to track or cancel your Limit Order request. If your order executes, you will receive an email confirmation and it will be recorded in your Transaction History.
How to Place a Limit Order From your Mobile App
Log in to your account on the BitcoinIRA app on your mobile device.
Tap the Self-Trading tab at the bottom of the screen.
Select your order direction (Buy or Sell).
Choose the Account you want to trade within.
Select the cryptocurrency Asset you want to trade.
Set the Order Type to Limit Order.
Enter your desired Limit Price. NOTE: If you set a limit price more than 50% above or below the last traded price, your order may take longer to trigger.
For BUY orders, the limit price must be lower than the current market price.
For SELL orders, the limit price must be higher than the current market price.
Enter your desired Amount.
Amount must be at or between $10 minimum and $500,000 maximum.
Review the order summary, tap the checkbox to agree to the Terms & Conditions, then tap the Place Order button.
Congrats, your Limit Order request has been created! Learn how to track or cancel your Limit Order request. If your order executes, you will receive an email confirmation and it will be recorded in your Transaction History.
Important Information
When you place a Limit order, it is submitted to the exchange as an open request. The order will remain pending on the market until the price conditions you set are met. Unlike a, Immediate Order, it does not execute right away.
Execution will only occur if and when the market reaches your specified price.
Funds used for Limit Orders become locked until either the Limit Order executes, or you cancel the Limit Order.
You can place as many Limit Orders as you like.
You can place multiple Limit Orders for the same asset at different target prices and different amounts.
Troubleshooting
Why am I getting an error for the price I entered?
Why am I getting an error for the price I entered?
Ensure your order amount is for or within $10 minimum to $500,000 maximum.
Ensure your limit price is higher than the current market when selling, and below the current market price when buying. This prevents the order from acting like an Immediate order and filling instantly.
Why am I unable to trade?
Why am I unable to trade?
(link to another article)