【Updated on August 25, 2026】

In cryptocurrency trading, common order types include market orders and limit orders. A market order is executed quickly at the best available market price, while a limit order allows users to set their own buy or sell price. A limit order will only be executed when the market price reaches the specified price or a better price.

On the BTCC trading page, you can select Buy or Sell in the order panel, then switch between Limit Order and Market Order to place the corresponding order.

1. What Is a Market Order?

A Market Order is an order to buy or sell an asset immediately at the best available price in the order book.

The main feature of a market order is fast execution. When you want to complete a trade immediately instead of waiting for a specific price, you can choose a market order. For example, when the market is moving quickly, or when you want to buy or sell a coin as soon as possible, a market order will be matched first at the currently available market price.

However, the final execution price of a market order may be affected by market depth, order book liquidity, and price fluctuations. When market liquidity is low or prices move sharply, the actual execution price may differ from the price you saw when placing the order. This is commonly known as slippage.

How Does a Market Order Work in the Order Book?

The order book usually displays current buy and sell orders in the market:

• The red area usually represents sell orders

• The green area usually represents buy orders

When you place a buy market order, the system will first match it with the lowest-priced sell orders in the order book.

When you place a sell market order, the system will first match it with the highest-priced buy orders in the order book.

Therefore, the execution price of a market order is not specified by the user. Instead, it depends on the available prices and market depth in the order book at the time of execution.

How to Place a Market Order on BTCC

Taking BTC/USDT spot trading as an example, you can follow these steps:

1. Log in to your BTCC account, go to the trading page, and select the trading pair you want to trade, such as BTC/USDT.

2. In the order panel, select the trading direction:
• Click Buy to buy BTC
• Click Sell to sell BTC

3. Select Market Order as the order type. The system will display Best Market Price, which means the order will be matched at the best available market price. You do not need to enter a price manually.

4. Enter the order amount or order total. You can also use the slider to quickly select the order percentage.

5. After confirming that your available balance, order amount, and order total are correct, click Buy or Sell to submit the order.

Market orders are usually matched and executed immediately after submission. Once the order is filled, you can view the execution details in Latest Trades or your transaction records.

2. What Is a Limit Order?

A Limit Order is an order where users set their own buy or sell price. The order will only be executed when the market price reaches the specified price or a better price.

Unlike market orders, limit orders may not be executed immediately. After submission, a limit order is usually added to the order book as an open order and waits for the market price to reach the specified order price.

Limit orders are suitable for users who want to trade at a specific price. For example, if you want to buy BTC when its price drops to a certain level, or sell BTC when its price rises to a certain level, you can use a limit order.

How Does a Limit Order Work in the Order Book?

When you place a buy limit order, the order will be added to the buy side of the order book at your specified price. The order will only be executed when there is a matching sell order at that price or lower.

When you place a sell limit order, the order will be added to the sell side of the order book at your specified price. The order will only be executed when there is a matching buy order at that price or higher.

If the market price does not reach your specified price, the limit order may remain unfilled or partially filled until it is fully executed, canceled, or expired.

How to Place a Limit Order on BTCC

Taking BTC/USDT spot trading as an example, you can follow these steps:

1. Log in to your BTCC account, go to the trading page, and select the trading pair you want to trade, such as BTC/USDT.

2. In the order panel, select the trading direction:
• Click Buy to buy BTC
• Click Sell to sell BTC

3. Select Limit Order as the order type. Enter your desired execution price in the Price field. For example, if you want to buy BTC at a specified USDT price, you can enter your target buy price here.

4. Enter the amount you want to buy or sell in the Amount field. The system will calculate the order total based on the order price and order amount. You can also use the slider to quickly select a percentage of your available funds.

5. After confirming the order price, order amount, order total, and available balance, click Buy or Sell to submit the limit order.

After a limit order is submitted, if the market price has not yet reached your specified order price, the order will remain unfilled or partially filled. You can view the order status under Open Orders or Order History, and cancel any unfilled order if needed.