Buying and selling crypto

A stop order is an order to buy or sell crypto once it reaches a specific price, known as the stop price.

When a coin reaches your set stop price, the stop order becomes a crypto market order and is executed at the best ask or bid price currently available, with up to a 1% collar for buy orders or a 5% collar for sell orders.

At its most basic, stop orders are used to trigger a purchase should the coin price reach or go above the stop price. Or trigger a sell should the bid price reach or drop below the stop price.

Check out Market order collaring for more details about price collars.