A Limit Order allows you to buy or sell cryptocurrency at a price you choose instead of the current market price. Unlike a Market Order, which executes immediately, a Limit Order remains open until the market reaches your specified price or until you cancel it.

This order type is ideal for traders who want greater control over their entry or exit price and are willing to wait for the market to reach their target.

In this guide, you'll learn how to place both Buy and Sell Limit Orders on PLUBIT Exchange.

What Is a Limit Order?

A Limit Order is an instruction to buy or sell a cryptocurrency only when the market reaches the price you specify.

For example:

• If Bitcoin is trading at 100,000 USDT, you can place a Buy Limit Order at 98,000 USDT.
• Your order will only execute if the market price falls to 98,000 USDT.

Similarly, you can place a Sell Limit Order above the current market price and wait until buyers are willing to purchase at your target price.

When Should You Use a Limit Order?

Limit Orders are useful when you:

• Want to buy below the current market price.
• Want to sell above the current market price.
• Prefer price accuracy over instant execution.
• Have a specific trading strategy.
• Don't need your trade to execute immediately.

Before You Start

Before placing a Limit Order, make sure you have:

• A registered PLUBIT account.
• Completed Identity Verification (KYC), if required.
• Funds available in your Spot Wallet.
• Sufficient balance for your trade.

How to Place a Buy Limit Order

Step 1

Log in to your PLUBIT account.

Step 2

Open the Spot Trading page.

Step 3

Select the trading pair you want to trade.

Example:

• BTC/USDT
• ETH/USDT
• SOL/USDT

Step 4

Select the Limit tab.

Step 5

Enter your desired purchase price.

This is the maximum price you're willing to pay.

Step 6

Enter the amount of cryptocurrency you want to purchase.

Alternatively, use the percentage shortcuts:

• 25%
• 50%
• 75%
• 100%

Step 7

Review your order.

Check:

• Trading Pair
• Limit Price
• Order Quantity
• Total Amount

Step 8

Click Buy.

Your order will appear in the Open Orders section and will remain there until it is executed or canceled.

How to Place a Sell Limit Order

Step 1

Open the Spot Trading page.

Step 2

Select your trading pair.

Step 3

Choose the Limit order type.

Step 4

Enter the selling price you want.

Step 5

Enter the amount of cryptocurrency you wish to sell.

Step 6

Review your order.

Step 7

Click Sell.

Your order will wait in the Order Book until buyers accept your selected price.

Understanding Open Orders

After placing a Limit Order, it appears under Open Orders.

Your order will remain open until:

• The market reaches your selected price.
• You manually cancel the order.
• The order expires (if applicable).

Until the order is filled, your funds remain reserved and cannot be used for another trade.

Advantages of Limit Orders

Limit Orders offer several benefits:

• Greater control over trading prices.
• Avoid buying at unexpectedly high prices.
• Avoid selling below your preferred price.
• Suitable for planned trading strategies.
• Helpful during volatile market conditions.

Limitations of Limit Orders

There are also a few limitations:

• Your order may never be executed.
• Execution depends on market movement.
• It may take minutes, hours, or even days before your order is filled.
• Partial fills may occur if available liquidity is limited.

Tips for Using Limit Orders

For the best trading experience:

• Set realistic prices based on current market conditions.
• Review the Order Book before placing an order.
• Monitor your Open Orders regularly.
• Cancel and replace orders if market conditions change.
• Avoid placing prices that are too far from the current market.

Frequently Asked Questions (FAQ)

1. Will my Limit Order execute immediately?

Only if your selected price is already available in the market.

Otherwise, your order will remain open until the market reaches your target price.

2. Can I cancel a Limit Order?

Yes.

You can cancel any unfilled Limit Order at any time through the Open Orders section.

3. Can a Limit Order be partially filled?

Yes.

If only part of your order matches available liquidity, the remaining quantity will stay open until fully filled or canceled.

4. Why hasn't my order been executed?

Your selected price may not have been reached yet.

The order will remain pending until matching market conditions occur.

5. Where can I view my pending orders?

Navigate to:

Orders → Open Orders

to monitor all active Limit Orders.

Common Issues

IssueSolution

Order Not Filled

Wait until the market reaches your selected price.

Order Partially Filled

The remaining quantity will stay open until more liquidity becomes available.

Insufficient Balance

Deposit additional funds or reduce your order amount.

Incorrect Price

Cancel the order and place a new one with the correct price.

Cannot Find My Order

Check the Open Orders section.

Final Thoughts

Limit Orders give you greater control over the price at which you buy or sell cryptocurrency. While they may take longer to execute than Market Orders, they are an excellent choice for traders who value precision and strategic planning.

By understanding how Limit Orders work and monitoring your Open Orders regularly, you can improve your trading experience and make more informed decisions on PLUBIT Exchange.