Bitvavo app adds popular ‘limit orders’, what are these?

Good news for users of the Bitvavo app! Finally it is possible to limit orders to be placed within the app. What are limit orders and why is it useful for traders and investors? We explain that and more in detail in this article.

Buy Bitcoin with limit orders in Bitvavo app

In a blog post let the Dutch exchange Bitvavo know that it has successfully performed an update. With the update, a new function was implemented, namely the possibility to place so-called limit orders.

Bitcoin can often be bought on an exchange in different ways. For example, you can buy BTC directly for the current price, but a limit order offers more options. Traders can use limit orders to set a price at which they would like to buy the crypto. Below an example:

“The current bitcoin price in euros is €21,400. You want to buy bitcoin on Bitvavo, but expect the bitcoin price to fall to € 20,000. In short, it is wiser to wait until the price has fallen to this level so that you can buy bitcoin cheaper.

Instead of staring at your phone for 24 hours until this price is reached, with a limit order you can set your buy order to be automatically executed once the price has dropped to $20,000.”

This also works the other way around. If you want to sell bitcoin and expect the bitcoin price to rise, you can set a sell limit order. Once your desired price has been reached, your sell order will be executed.

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Create a Bitvavo account here to take advantage of the new feature!

‘Biggest update Bitvavo app to date’

The blog post states that the update is “the biggest update to the app to date”. The update goes further than just adding limit orders, says Mateusz Wlodarczyk, Head of Product at Bitvavo:

“I am proud of the progress we have made. The new set-up of the app also allows us to release new functions faster. This is just the tip of the iceberg.”

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