Knowing the order book is critical for crypto traders. In this article we’ll introduce you to what it is, how it works, and why you should use it.
What is the order book?
The order book, also called the order book, is where the intentions to buy and sell assets traded on the exchange are shown. The name originated from the traditional financial industry before the digital age. At that time, intentions to buy and sell shares were written in a book that all investors could see. After all, the effectiveness of order book is guaranteed.
How does the order book work?
The order book consists of two parts: buy orders and sell orders. Both orders are listed in descending order according to price.
The order book is dynamic. This is because the price of cryptos is always changing, and when a trade is executed, the relevant orders are automatically removed and new orders are placed in their place.
How to use the order book and the advantages?
You can find more than 60 pairs in the order book, based on BRL, USDT, BTC and ETH.
When trading with the order book, you can choose between market order and limit order. A market order is basically a quick buy or sell based on the current market price. A limit order, in turn, is one that you determine a specific buy or sell price, and this will only be executed when it reaches a price equal to or better than the one defined by you.
By analyzing the market and variations of Bitcoin or other crypto, you can take advantage of the charts with very practical and complete indicators and tools.
On the order book page, you can also consult your open and completed orders at the bottom very easily.