Do I need to pay a handling fee for Bitcoin entrustment orders? How is the handling fee calculated?

In a difficult time for traditional markets and digital assets, Bitcoin has continued to create historic milestones this year, solidifying its legitimacy as a global asset and network. Long-term holders have unswervingly believed that Bitcoin will usher in great times. Behind the rise and fall of the market, the handling fees for trading Bitcoin have also become the most concerned issue for everyone. Are there any handling fees for investing in Bitcoin entrustment orders now? It has been repeatedly mentioned that a Bitcoin order is an instruction issued to the market on an exchange to buy or sell Bitcoin. This order is waiting for execution in the market. It is usually divided into two types: limit order and market order. Type, the editor will explain it in detail below.

Are there any fees for placing Bitcoin orders?

Normally, the handling fee will only be charged after the Bitcoin order is successfully placed. Unfilled orders and order cancellations will not incur handling fees. The specific fees charged for Bitcoin pending orders mainly depend on the exchange chosen by the investor. For example, Binance Exchange’s pending order transaction fee is 0.1%, Eureka Exchange’s pending order transaction fee is 0.08%, and taker order transaction fee is 0.1%.

Bitcoin pending orders are when investors are unable to keep a close eye on the intraday market, such as during night breaks, to analyze and predict the market, and feel that they can make profits by buying and selling at what price. Profit, just inform the system of the transaction price and the quantity to be traded. When the trend reaches this price as predicted by the investor, the system will automatically complete the transaction instructions set by the investor, without the need for investors to follow the whole process. You can do what you want to do within this time, and at the same time, you will not take any profit opportunities. It can be said that you kill two birds with one stone.

The pending order is valid on the same day, and the customer can cancel the unfulfilled order before the transaction is completed. When a pending order is placed for a transaction, the amount is immediately frozen and cannot be used for payment or other purposes unless the transaction is cancelled.

How long does it take for a Bitcoin pending order to expire?

Bitcoin limit orders can usually be set to be valid for a long time, and generally can be hung for 90 days by default. However, digital currency trading platforms’ regulations on the time limit for pending orders may vary from platform to platform. This is because different types of orders may have different statutes of limitations. Therefore, it is important to set the validity period of your limit order according to the exchange's regulations.

1. Limit order:

Limit orders usually hang on the market until they are executed, canceled, or expire manually. Many platforms do not set an expiration time for limit orders, so they remain valid until canceled or executed.

2. Market order:

Market order is an order that is executed immediately and is usually not placed on the market. Therefore, they do not have the concept of time limit for pending orders, but are executed immediately after submission.

3. Stop-loss orders and trailing stop-loss orders:

These orders usually remain valid until the specified trigger condition is reached. The order will be triggered when the market price reaches or exceeds the stop price. The expiration date of a trailing stop order is also usually related to the triggering conditions.

4. Conditional orders:

The timeliness of conditional orders is usually stipulated by the platform. Some platforms may allow conditional orders to be set for a longer period of time, while other platforms may set a certain expiration time for them.

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