Decentralized exchanges (DEXs) have revolutionized crypto trading by introducing features like limit orders—a powerful tool for executing trades at predetermined prices. This guide explains how limit orders work across multiple blockchains and platforms.
How Limit Orders Work in Decentralized Exchanges
Limit orders allow traders to:
- Set buy/sell prices in advance
- Avoid constant market monitoring
- Execute trades automatically when conditions are met
Supported blockchains include:
- Ethereum
- BNB Chain
- OKTC
- Polygon
- Avalanche C-Chain
- Fantom
- Arbitrum
- Optimism
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Placing Limit Orders: Step-by-Step Instructions
Mobile App Method
- Navigate to Trading > Select Limit Order
Enter:
- Token pair (buy/sell)
- Preferred rate
- Expiration period
- Tap Place Limit Order
Pro Tip: Your buy order executes when market price = specified price + network fee.
Web Platform Method
- Select the limit order option in your trading interface
Input:
- Token details
- Target price
- Duration
- Click Place Limit Order
Key Feature: Quickly set orders without continuous market monitoring.
Order Management Essentials
Viewing and Modifying Orders
You can cancel unfilled limit orders anytime through your transaction history.
Mobile Process:
- Tap the history icon (top-right)
- Select transaction > Choose Cancel in Details
Web Process:
- Click history icon in trading view
- Select transaction > Click Cancel in Details
Smart Trading Practices
- Use Market Price option for immediate execution
- Network fees apply only upon order execution
- Monitor order status indicators (Pending/Executed/Canceled)
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Frequently Asked Questions
How long do limit orders stay active?
Orders remain valid until either:
- Execution at target price
- Manual cancellation
- Expiration (if duration was set)
Are limit order fees different from market orders?
Yes. Limit orders typically have:
- No upfront fees
- Network fees deducted upon execution
- Potential gas price fluctuations
Can I set multiple limit orders simultaneously?
Most DEXs allow:
- Concurrent buy/sell orders
- Different price points
- Varied expiration periods
What happens if my limit order isn't filled?
Unfilled orders will:
- Remain in order book until expiration
- Show as "Open" in your history
- Be cancellable anytime
How precise can I set limit order prices?
Precision depends on:
- Token pair's decimal places
- Exchange's minimum increment rules
- Typically up to 8 decimal places
Remember: Successful trading combines strategic order placement with continuous market analysis. Limit orders provide automation but require understanding of price movements and blockchain network conditions.