# Different Order Types in Spot Trading

CoinHome provides different order types for you to use in spot trading. Through them, you can set up trading strategies and achieve efficient trading. Let's understand the common order types in Bithome spot trading.

## What is a market order?

Market orders allow you to place an immediate buy or sell order for an asset at the best current market price. You can choose \[Quantity] or \[Transaction Amount] to place a buy or sell market order. For example, if you want to buy a certain amount of BTC, you can directly enter the amount. But if you want to buy BTC with a certain amount, such as 10,000 USDT, you can use \[Transaction Amount] to place a buy order.

![](https://290676911-files.gitbook.io/~/files/v0/b/gitbook-x-prod.appspot.com/o/spaces%2F6MIMSlBpwz7dLl5Z6jUt%2Fuploads%2F8MM1JwphpjePHfwdnic8%2FScreenshot_20240528_170909.jpg?alt=media\&token=547f7e0f-62bf-4301-96f6-7c30539ae099)

## What is a limit order?

A limit order is an order placed in an order book at a specific limit price. It will not be executed immediately like a market order. Instead, a limit order will only be executed when the market price reaches your limit price (or better yet). Therefore, you can use a limit order to buy an asset at a lower price, or to sell it at a price higher than the current market price. For example, you place a buy limit order for 1BTC at $60,000 and the current BTC price is 50,000. Your limit order will be filled immediately at $50,000, which is more ideal than the price you set ($60,000). Similarly, if you place a sell limit order for 1 BTC at $40,000 and the current BTC price is $50,000. The order will fill immediately at $50,000, which is more desirable than $40,000.

| Market order               | Limit order                                                                           |
| -------------------------- | ------------------------------------------------------------------------------------- |
| Buy assets at market price | Buy an asset at a set price or a better price                                         |
| Deal now                   | Only when the limit order or better price is reached can the transaction be completed |
| Manual operation           | Can be set in advance                                                                 |