Market Order
Order that executes immediately at the best available market price.
A market order is the simplest type of order — you buy or sell immediately at the best currently available price in the order book.
Characteristics:
•Guaranteed execution (almost always)
•No control over exact price
•Taker fee — you pay higher fee than limit orders
•Slippage risk — with illiquid pairs you may get a worse price than displayed
When to use market order:
•When urgency takes over — for example, when you want to exit a falling position
•For highly liquid pairs (BTC/USDT) where slippage is minimal
Never use market order for:
•Illiquid altcoins
•Large amounts without checking order book depth