Written by CoinMetro Updated over a week ago
All of CoinMetro's listed cryptocurrencies can be traded using limit orders, and in most cases, using market orders.
Our first step is to select which currency you wish to buy or sell, and select which currency you wish to receive. In this case, we will be buying Bitcoin and paying in Euro.
Secondly, we need to select the 'Limit' order and the maximum price you are willing to pay for the Bitcoin (or crypto) as well as the amount we wish to buy. In this example, we have said we'll pay up to €38,000 and we want to buy 1 BTC.
This will execute at that price or better: lower when buying, or higher when selling.
There is also a field showing the equivalent value in the receiving currency, in case you wish to spend an exact amount (for example if you wanted to only spend €1000, you would place that in the 'Pay' window and the corresponding BTC value would be populated in the 'Buy' window).
By clicking the Buy or Sell button, the order will be placed into the book.
The order would now be displayed inside the order book and your order will be underlined.
Please keep in mind that a limit order means that the order is placed into the order book and waiting to be filled at your specified price, so you will need a seller to agree to the price you are willing to purchase for (supply and demand).
Depending on the price, it can take some time for your order to fill, or it could be that the price never reaches that point and you therefore would like to cancel the order and place a new one to enter a trade. You can also see what people are willing to pay, as indicated by the red SELL orders immediately above the average price (in yellow).
Please note: the yellow price is simply a median between the selling and buying price, and the Spread is the difference between the two prices.
You can also see your active order directly below the price chart as shown below. Up until the order is 100% filled you can adjust via the pen indicator under actions or cancel the order by selecting the 'X' under actions.
In the below example, the buy order has been adjusted to be at the 'top of the book', meaning it will be the next order filled.
CoinMetro’s Demo Platform is always available if you would like to practice without risk. Please note that this article is for educational purposes only.
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