There are multiple order types available on Tokenize Xchange. In this helpful article, we walk you through how to use market orders.

One of the main order types you’ll see in the form on Tokenize is Market Order.

What is a Market Order?

A market order is an order that will be executed immediately and in full by buying or selling from the bids and asks in the order book. With a market order, you choose the quantity of the asset you want to buy or sell and then once confirmed, you will buy or sell that quantity from the bids or asks available. This is the simplest type of order as it means you don’t need to specify a price.

Market order is the quickest way to buy or sell your cryptocurrency and tokens. Once received by the system, a market order is matched and filled right away, as long as there are buyers and sellers on the Order Book.

Using a market order to trade, means you accept to trade at the current market price.

How to use Market Order?

Here is a step-by-step guide on how to buy your cryptocurrencies using Market Order on Tokenize Xchange.

Select Trade on your dashboard. Click on Spot select the SGD Tab on the right and select BTC/SGD below:

Scroll down and select Market

Your Balance: 9,533.08 is the SGD balance left in your account.

Market: Your order will be filled immediately at the best market price at the time of your order.

Total: The total value of BTC in SGD that you would like to buy

By clicking on Total the buy configuration will change to Amount which is the amount of BTC you would like to buy.

Let’s input 0.01 and click the green Buy BTC button

You will see a confirmation window. Check all details carefully. Please see the trading commission fee here. Click “Confirm” to proceed or “Cancel” to cancel the transaction.

After confirming the order, you will see a green notification at the top of the page indicating that your order has been successfully placed.

If you want to sell BTC in market order, the process is similar.

Your order will be matched automatically. You may view your order by selecting “Orders” and “Completed Orders“.