A limit order is a type of order used when buying or selling cryptocurrencies at a specific price or better. Traders place a limit order to ensure that they do not pay more than a set price when buying or receive less than a set price when selling.For example, if you want to buy Bitcoin at $30,000 but the current market price is $31,000, you can place a limit order at $30,000. This order will execute once the price reaches your specified level. Similarly, if you wish to sell Bitcoin at $32,000 with the market price at $31,500, a limit order will complete the sale only when the price hits your target.Limit orders provide control over the trade price but come with the risk that the order may not be fulfilled if the market doesn’t reach your specified price. This makes them useful for strategic buying and selling, allowing for more thoughtful trading decisions.