A market order is a type of order on a cryptocurrency exchange that is executed immediately at the best available price. When you place a market order, you are indicating that you want to buy or sell a certain amount of a cryptocurrency as soon as possible, and you are willing to accept the current market price for the trade.
A market order is processed by the exchange’s matching engine, which finds the best available price from the current orders in the order book and executes the trade immediately. The price of the market order may be different from the current market price, depending on the availability of orders in the order book.
Market orders are useful for traders who want to quickly enter or exit a position, and do not have time to wait for a limit order to be filled. However, market orders can result in higher trading fees, as they take liquidity from the order book and are typically charged a higher fee than limit orders.
In summary, a market order is a type of order on a cryptocurrency exchange that is executed immediately at the best available price. Market orders are useful for traders who want to quickly enter or exit a position, but can result in higher trading fees.
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