A market order in cryptocurrency trading is an order to buy or sell a digital asset at the best available current market price. Unlike limit orders, which specify a particular price, market orders execute immediately at the prevailing market price.
Market orders are typically used when traders want to execute a trade quickly and are less concerned about the exact price they receive. While market orders offer speed and certainty of execution, they can sometimes result in higher costs due to potential slippage, especially in fast-moving markets.
Traders should carefully consider their trading strategy and market conditions before using market orders to ensure they achieve their desired outcomes.