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 sell your ETH (Buy XBITS) at a higher price in XBITS than the market price, you can opt for a Limit Sell 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 or sell ETH by buying XBITS.
- In the previous screenshot, you can see that the market price of 1 ETH = 2440 XBITS. This means that you can directly sell 1 ETH for 2440 XBITS. However, if you want to wait and get XBITS at a lower rate i.e you want to get not 2440 but 2600 XBITS for 1 ETH, it can be achieved by putting in a sell ETH limit order. On the sell side in the Price [XBITS] field enter 2600 XBITS. Below this field in the Amount [ETH] field, enter 1. Now you can see 2600 XBITS in the XBITS payout field at the bottom. Click on Sell ETH to proceed with the trade.
- If you want to use 100% of your ETH holdings to be converted to XBITS as per the specifications of this order (if matched), you can click and highlight 100% (minus the transaction costs) and then click on Sell ETH. In this case, our total ETH holdings are 2.48 ETH and by clicking 100%, we can sell 2.27 ETH for 5902 XBITS.
- Once you click on the Sell ETH button, the order is filled.