VCoin Exchange Update: Limit Orders
Major news today for the Sparkle Coin community and VCoin Exchange users. Starting Thursday, the 15th of February, VCoin Exchange will allow a new type of buy/sell orders. This new type of order is called a Limit Order and it allows you to put in a buy or sell order with a specified upper or lower limit on how much you’re willing to buy, sell or trade your Sparkle Coins for. And conveniently, even a selling limit order has potentially no limit on how long it stays active. You can choose to keep the order on the market until it has been filled to completion.
In other words, we’re adding a huge new capability to the VCoin Exchange that will give you unprecedented control over how much you’re willing to exchange and for what. This feature, plus its added functionality of allowing you to keep the order up and running instead of having a five minute time limit, will make trading on VCoin Exchange easier, more efficient, and more profitable for everyone.
Let’s look at an example at how a limit order will work on VCoin Exchange. Let’s say you have 50 Sparkle Coins you want to sell, the market price is currently at $29.50, and you’re willing to sell them for $31 each. You can put in a limit order for 50 Sparkle Coins, set the limit to $31, and choose the duration of the order (either a day, until a specific date, or indefinitely until cancelled or filled). Submit the order and your 50 Sparkle Coins will be up for grabs on the exchange until matched up with a buyer willing to purchase coins for at least $31 (or more).
This is a huge step for VCoin Exchange and its community. Instead of having to sell at market price and waiting for a buyer at market price to come around (with an order that lasts five minutes), the exchange users now have remarkably increased control over their selling and buying experience. This will inspire greater involvement and satisfaction and a more active and flourishing exchange.
We’re unbelievably excited for this transformative expansion of the VCoin Exchange and can’t wait for you all to try it out. As always, we extend our utmost gratitude to the VCoin Exchange community and thank you all for continuing this exciting journey with us. For more detailed step-by-step instructions on how to use this new feature and start making limit orders click here.