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Limit Buy
A limit buy order is an order placed by a trader to buy a particular asset, such as a cryptocurrency or stock, at a specific price or better. The order is executed only when the market price of the asset reaches or falls below the limit price specified in the order.
For example, if the current market price of a cryptocurrency is $10, a trader may place a limit buy order for $9. If the price of the cryptocurrency drops to $9 or lower, the order will be executed and the trader will buy the cryptocurrency at that price.
Limit buy orders can also be used to ensure that traders enter the market at a cheaper price point, and to stop them from overpaying for a certain asset.