What is a limit order in crypto?

By PlatformCrypto.eu editorial team · Last checked on 20 October 2026

Short answer

A limit order is an instruction to buy or sell crypto at a price you set, or better. If the market never reaches that price, nothing happens. A market order, by contrast, executes immediately at the best price currently available in the order book.

Limit orders only exist where there is an order book, the live list of open buy and sell orders on an exchange. The one-tap buy buttons in most apps do not offer them; you need the platform's trading screen, such as Kraken Pro or Coinbase Advanced. How order books differ from broker pricing is explained in crypto exchange vs broker.

Market order or limit order?

	Market order	Limit order
Execution	Immediately	Only if your price is reached
Price	Best available, then up the book	Your price or better
Certainty	You will trade	You may not trade
Typical fee	Taker rate	Often the lower maker rate

A market order takes the cheapest sell orders first. If your order is large compared to what is on offer, it eats through several price levels and your average price rises; this is called slippage. A limit order caps the price you will pay, so slippage cannot happen.

Maker and taker fees

An order that executes immediately removes liquidity from the book; you are the taker. A limit order that rests in the book until someone else trades against it adds liquidity; you are the maker. Exchanges such as Kraken and Coinbase publish separate maker and taker rates, with makers paying less.

How to place one

Open the trading screen and choose a market, for example BTC/EUR.
Select "limit", then enter the price and the amount.
Choose how long the order stays open; many platforms keep it until you cancel.
Confirm. The euros or coins involved are reserved until the order fills or you cancel it.

Things to watch

The market can move away. Set a buy price below the market and it may never be reached.
Partial fills. An order can be filled in pieces, leaving the rest open.
Stop orders are different. A stop triggers at a set price and often then executes as a market order, slippage included.
Your funds are tied up. Money reserved for an open order cannot be used elsewhere until you cancel.

What our comparer assumes

The comparer offers two modes. Advanced mode simulates a market order in the trading screen against the live order book, with the taker fee. A patient limit order can sometimes do slightly better, but there is no guarantee it will fill. Why outcomes still differ between platforms is covered in why crypto prices differ between exchanges, and the full method is in how we compare. The ranking on best crypto exchange in Europe shows results for both modes.