This trade feature allows you to instantly buy or sell cryptocurrency on our platform at the current price reflected in the order book.
Using this feature will ensure instant execution of your order if there are open orders on the book, but keep in mind that you won’t be able to set your order price.
Steps to place a Market Order:
1. Select Bitcoin from the home screen of your ZebPay app
2. Tap on Market
3. Enter the amount in INR to buy, or enter the quantity of crypto you wish to sell, and confirm.
4. Once your buy or sell order is executed, it will be displayed under My Orders.
5. Tap on the order to view details.
A Stop-Limit order is a conditional trade feature used to buy and sell crypto which helps prevent any losses over a chosen price. Setting a stop and limit price is a secure way to automate buy or sell orders without constantly needing to watch the market.
There are 3 components to the stop-limit feature:
Quantity: Amount (fiat) or quantity (crypto) you would like to buy/sell at the limit price.
Stop Price: When the last traded price reaches a given stop price, your stop order (buy/sell) will be triggered at that specified price.
Limit Price: The Price at which the stop-limit order (buy/sell) is placed in the order book.
A Buy stop-limit order is triggered when the last traded price reaches or exceeds the stop price of the order. For a Buy stop limit order, the limit price must be greater than or equal to stop price.
A Sell stop-limit order is triggered when the last traded price reaches or falls below the stop price of the order. For a Sell stop-limit order, stop price must be less than the last traded price.
A stop-limit order will revert to a normal limit order (i.e., it will buy or sell the crypto at the specified price or better) once triggered.
For example, here’s how you would place a Sell stop-limit order:
Let’s say you bought 1 ETH at INR 20000. You notice a price drop and decide to sell it at no less than INR 19500 to prevent further loss. You can place a sell stop-limit order with the stop price at INR 19700 and the limit price at INR 19500. Once the price reaches the stop price of INR 19700, your order is activated, it will automatically trigger your ETH sell order at INR 19500.
Steps to place a stop-limit order:
1. Select the cryptocurrency you want to trade in.
2. Tap on Stop Limit.
3. Set the limits as per choice.
4. Complete your trade details and confirm to execute.
5. You can view the order details by tapping on My Orders