How to Trade Crypto Responsibly | Binance Academy

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How to Trade Crypto Responsibly | Binance Academy
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Trading responsibly should be your top priority when buying or selling crypto.

You can easily use stop-limit orders on Binance for greater control over your trading. You can’t always be at a screen 24/7, and with crypto being so volatile, you can be left with unexpected losses. Leaving large amounts of crypto without any protection from volatility isn’t a responsible way to trade. Once you’ve set up a trading plan, you can easily use stop-limit orders to stick to it.at $15,000 , and the price of Bitcoin is now $40,000.

You first set the stop price to $32,000. This is the price that will trigger your limit order. You then set the limit price to $30,000, meaning your 1 BTC will sell for $30,000 or better if the stop price is reached. By leaving a gap between the stop price and limit price, your stop-limit order has the best chance to fill. Without a gap, the market price could move below your limit price without filling your order.

Note that a stop-limit order isn’t always guaranteed to fill, but when they do, you will always get the price you set or better. For more information on how to use stop-limit orders, check outAlthough we offer educational and research materials through Binance Academy and Binance Research, this should only be the beginning of your analysis.

products. Only you know best your risk profile and what’s suitable for your portfolio. Before you start investing and trading, make sure you have a good understanding of where you're putting your money.

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