26 Jan 2017
As of today we have introduced STOP ORDERS on the exchange.
A Stop Order allows you to protect yourself or profit from Bitcoin price volatility. A stop order is triggered when a specific price is reached. Once the price is reached the Stop Order transforms automatically into a market order. Lets say you have 1 bitcoin that you want to keep and the current market price for 1 bitcoin is 1,000 euro. However you are worried that the price might fall sharply and you would loose your value. In order to protect yourself, you would place a Stop Sell order at lets say 800 euro. This means that if the price of Bitcoin falls down to 800 euro, your bitcoin will be automatically sold at the market price. This way you can rest assured that in case of a sharp drop in bitcoin price you are protecting your exposure.
Consider an alternative situation in which you are following the Bitcoin price but do not want to buy at the moment, however in case the price starts rising sharply (for instance in case of an important piece of news) you want to sieze the opportunity. To do that you would place a Stop Buy order. Lets say the current market price of bitcoin is 1,000 euro and in case the prices rises above 1,200 you want to buy 1 bitcoin. In this case you would place a Stop Buy order for 1 bitcoin at price 1,200 euro. Once the price reaches 1,200 euro your Stop Buy order will automatically transform into a Market (Instant) Buy order.
* Please note that when a Stop order is triggered, the order is transformed into a Market (Instant) Order which is executed at the available ask/bid prices at the time of trigger, this means that you are not guaranteed to receive the exact price of the Stop Order.
** Our matching engine follows a strict first come, first served rule, which means that if two Stop Orders are created at the same price, the oldest one will execute first.
** Stop Orders are not displayed in the order book and are only visible to the user that created them
Also, as of today we have reduced the minimum order amount from 0.01 to 0.001 btc