‘Limit’ and ‘Market’ are ways to determine how you want to buy or exchange your crypto assets.
Limit order
A limit order lets traders choose a particular price for trading a cryptocurrency. They specify both the amount and the desired price.
If you choose the ‘Limit’, you’ll have to set the minimum price at which you’re willing to exchange your crypto. The order is only processed if the market price meets or surpasses the set limit.
Although limit orders offer control over the execution price, there's no assurance that the order will be completed if the cryptocurrency's price doesn't reach the specified level.
Market order
On the other hand, a market order is a simple instruction to buy or sell a cryptocurrency at the best available price. Therefore, if you choose Market, you’ll sell your crypto immediately at the current market price.
Market orders are suitable for traders who want to enter or exit positions swiftly without worrying about the precise execution price.