Limit order

With a limit order, you tell your exchangeGlossaryExchange (crypto exchange)A trading platform where buyers and sellers trade bitcoin with each other via an order book. The price results from supply and demand; fees usually follow the maker-taker model.On the learning path: Stage 4 · Step 1 – Ways to get Bitcoin →In the glossary →×: ‘Buy bitcoin, but at no more than this price’ – or, when selling: ‘Sell, but for no less than this price’. You never get a worse price. Whether the order is executed, however, depends on whether someone wants to trade at your price.^[1]

Example

Bitcoin costs $80,000 (example price). You place a limit buy order for 0.01 BTC at $78,000. It waits in the order bookGlossaryOrder bookA list of all open buy and sell orders for a trading pair such as BTC/USD, sorted by price. The price forms between the highest bid and the lowest ask.On the learning path: Stage 4 · Step 1 – Ways to get Bitcoin →In the glossary →×. If the price falls to $78,000 or below and a seller is found, it is executed in full or in part. If the price rises, it stays in the book until you cancel it or its validity ends – for example ‘good till cancelled’ or ‘good for the day’.

Fee and limits

While your order waits in the order book, you are a maker and usually pay less: on Kraken ProProvider · ExchangeKrakenLarge crypto exchange with an EU licence from Ireland: simple in-app buying or an order book, withdrawals via Lightning too.Licence: MiCA (Central Bank of Ireland) · reviewed Sept 2026Costs: App 1% plus spread; Kraken Pro 0.40% maker / 0.80% taker (as of Sept 2026)On the learning path: Stage 4 · Step 2 – Choosing a provider →Our profile →AdVisit Kraken* (paid link, opens in a new window)on kraken.com*Paid link: if you sign up or buy through it, we earn a commission. Your price stays the same. How we make money →18+ · Crypto assets are highly volatile; you could lose all your money. No deposit protection.×, 0.40% instead of 0.80% in the entry tier (as of September 2026).^[2] More under maker and taker feesGlossaryMaker and taker feesA fee model used by exchanges: whoever places an order in the order book and so provides liquidity (maker) usually pays less than someone who immediately accepts an existing order (taker).On the learning path: Stage 4 · Step 1 – Ways to get Bitcoin →In the glossary →×.

The downside: if you always wait for a slightly better price, you may never buy. If immediate execution matters more to you than the exact price, a market orderGlossaryMarket orderAn order that is executed immediately at the best available price in the order book. You get speed but no price guarantee: with large amounts, the price can differ from the last price shown.On the learning path: Stage 4 · Step 3 – Buying Bitcoin →In the glossary →× is the simpler choice.