First let’s define a limit order. A limit order is executed when the price either touches the limit or crosses it in the desired direction. A buy limit order can only be executed at the limit price or lower, and a sell limit order can only be executed at the limit price or higher. A limit order is not guaranteed to execute instantly. If you want to Buy ETH (Sell XBITS) at a lower price in XBITS than the market standard, you can opt for a Limit Buy ETH order. Please follow the steps mentioned below.
- Sign in to your Tradebits account using your login details.
- Once you sign in to the exchange, please click on the XBITS in the top right section titled “Pair”. Afterwards, click on the pair ETH/XBITS. Then click on Limit in the Buy/Sell section.
- The structure of this pair i.e ETH/XBITS means that a user can buy ETH by selling XBITS.
- In the previous screenshot, you can see that the market price of 1 ETH = 9350 XBITS. This means that you can directly Buy 1 ETH for 9350 XBITS. However, if you want to wait and get ETH at a lower rate i.e you want to pay not 9350 but 9300 XBITS for 1 ETH, it can be achieved by putting in a Buy ETH limit order. On the Buy side in the Price [XBITS] field enter 9300. Below this field in the Amount [ETH] field, enter 1. Now you can see 9000 XBITS in the XBITS payout field at the bottom. Click on Buy ETH to proceed with the trade.
- If you want to use 25% of your XBITS holdings to be converted to ETH as per the specifications of this order (if matched), you can click and highlight 25% (minus the transaction costs) and then click on Buy ETH.
- Once you click on the Buy ETH button, the order is filled.
