Orders are the instructions that a customer gives to the system to carry out an operation (purchase or sale) under certain conditions, they can be simple or advanced depending on the degree of knowledge that one has in this regard.  

 

If you prefer a simpler way to buy Cryptocurrencies, you can do it in the menu "Buy and Sell", which is a quick and easy way to make a purchase or sale by placing a market order that is executed automatically, allowing operations to be carried out in an easy way.

 

In Banexcoin there are several types of orders that can be created by the client such as:

 


Market order 


East It is a very common and simple type of order, which is a mandate from the client to make a purchase of BTC at the estimated market price, it is executed in a practically automatic way when pressing the button to place a purchase order.






 Below you can see the example of how to place a purchase order at market price:

 

 Go to the menu Exchange:

 

 

Which will show you the area exchange where you can perform your analysis and price estimates using the different tools that we have at your disposal, then select the operation to perform depending on what you want to do Buy or Sell as shown In the following figure

 

 

 

In the upper left part of your screen you will be able to see an indicator of the pair with which you want to operate which indicates the type of currency and also the respective exchange rate. 

 

 

 

In the menu you will be able to see the different options to place orders of purchase and sale and under these you will be able to observe some parameters for the transaction such as price, commissions, total of the order and the amount to be received. 




To create the order it is necessary to establish the type of order, then establish the amount to be obtained in bitcoin and finally click on the button "PLACE PURCHASE ORDER", in the example on the right ais shown Market order.


 

After placing the order to observe purchase on screen confirmation of the order and must check the summary of your order before pressing the button "CONFIRM PURCHASE ORDER"

 


Once your order has been completed you will see your product obtained in your respective wallet.

 

Other types of Orders

 

Within the types of orders are orders Limit and Stop, in these the client imposes conditions with respect to the market price for them to be processed, once these conditions are met they are processed instantly.

 

 

Limit:

This type of order will allow you to buy or sell at a price that you have previously established or better, this order will remain active until the estimated price reaches the amount you have established or a better one in that case it will be executed, or until be canceled.





 

  Stop:

This type of conditional buy or sell order gives the command to the system that when a specific amount is reached, an order is executed at the market price, automatically taken from the order book.









 Advanced Orders:

 

There is the possibility of generating some types of more advanced orders that can be found by clicking at the bottom of the order menu by clicking on the link " Advanced Orders ":

 

 

Stop-Limit:

 

This is a conditional order either to buy or to sell where the customer places a rule on a specific market price, upon reaching the established price the order becomes a limit order to buy or sell at the limit price or better.

 

 

 

Trailing Stop Market: 

 

Applies to orders that set the stop price of an instrument at a price with a fixed offset relative to the market price. If the market moves and the stop price is reached, the order becomes a market order. 

 

 

Trailing Stop Limit Order:

 

Applies to orders that recalculate the stop price of an instrument at a fixed offset in relation to the market price. The limit price is recalculated based on a different fixed compensation. If the market reaches the stop price, the order becomes a limit order. 

 

 

Fill or Kill

This 
condition causes the order to be fully fulfilled or canceled if there is no possibility of this being done.

 

 

Immediate or Cancel

This condition causes the order to be executed immediately or to be canceled if there is no other order with which it can be executed.

 

Reserve Order:

 

Also known as a hidden order or Iceberg order, this type of order will show only a fraction of the actual complete order in the order book, the amount that will be shown is decided by the client at the time of generating it.

*Although orders can be canceled after being issued by the client, he must be careful when placing them since it is his responsibility after they are executed on the Platform.