A #market order is an order to buy/sell at the closest possible price, that is, at the market price. The advantage of such an order is that it is executed almost immediately if there is sufficient liquidity on the exchange. Minus, the execution price is not fixed and in case there is no offer at your rate the order is executed at the next bid and you actually buy/sell at a less favorable price. 😳
Example: you catch a #BTC bottom at $60k, but the price goes up and the order is executed for 3 trades at $60.2k, $60.8k and $61k.
A limit order is a buy/sell at a fixed price. Plus, the order is executed at the specified rate. Minus, the order can take some time to be executed and there is a risk that it will not be executed at all.
Example: You place a limit order to buy VTS at $58k on a correction and the market goes one green candle at $70k. In the end, all the bulls are in the black and you are in the #fiat with an unexecuted #order
Save it so you don't forget 😘