How to create a purchase order?

Modified on Tue, 1 Sep at 6:27 PM

Buy orders are a fantastic tool for setting the price at which you want to purchase a cryptocurrency. You can schedule these orders so that once the cryptocurrency reaches the value you specified, the purchase is executed automatically. To do this, you only need to have the indicated funds available in Euros, USDC, or EURC


To schedule a buy order, you need to start a regular purchase flow from the cryptocurrency wallet where you want to set the order or by using the operations button: 

  1. Tap the operations button (blue square) found in the horizontal menu at the bottom of the screen if you're using the app, or in the top right corner if you're on the web:
  2. In the operations menu, tap "Buy"  + .

  3. Select "Buy order" as the purchase type.

  4. Select the cryptocurrency from the list for which you want to schedule the purchase.

  5. Indicate the quoted price at which you want the buy order to execute by tapping + or -, or by entering it manually using the numeric keypad.

  6. Select the payment currency (Euro, USDC, or EURC) and tap the  Continue  button.

  7. On the next screen, indicate the amount to buy once the conditions of the order you are about to schedule are met. To schedule the order, funds must be available in your Wallet in Euros or a stablecoin, as this is currently the only available payment method. To confirm the amount to buy, tap the  Continue  button.

  8. In the final window, you'll see the details of the buy order you're about to schedule. Please review everything to ensure it's correct and tap the  Create buy order   button to confirm.

IMPORTANT

  • You cannot create buy or sell orders with a price variance of less than 2% compared to the current price. For example, if Bitcoin is currently worth €25,000 and you want to create a buy or sell order, you'll need to specify a price greater than €26,250 or less than €23,750. The reason for this limitation is to reduce the risk of instant order execution due to unfavorable market conditions such as low liquidity or high volatility.
  • Similarly, buy or sell orders are limited to a maximum of 100% above or 50% below the current price. For example, if Bitcoin is worth €25,000, the maximum range within which you can create an order will be between €12,500 and €50,000.
  • To schedule a buy order, you must have sufficient balance in the wallet you use for payment in your Wallet.
  • Scheduled buy orders are valid for 90 days. If the order has not been executed after this period because the indicated values were not reached, it will be automatically deleted.

Buy/sell orders are an advanced tool for buying or selling cryptocurrencies. To use them, you must be aware of the risks involved.

Buy/sell orders are not limit orders, and therefore the final buy or sell price may vary from the price indicated in the buy or sell condition. This is because they work as follows: when the cryptocurrency reaches the price specified in the buy or sell condition, a market order is executed for the desired amount, and thus it will be affected by market liquidity and volatility at that moment.

Similarly, if a token registers very low trading volume or insufficient liquidity, the scheduled order might not execute.



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