Are there any strategies to avoid slippage when buying or selling digital currencies?

3 answers

• Mar 06, 2022 · 3 years ago
  One strategy to avoid slippage when trading digital currencies is to use limit orders instead of market orders. With a limit order, you set a specific price at which you are willing to buy or sell a currency. This allows you to avoid the potential for slippage that can occur with market orders, where the price can change between the time you place the order and when it is executed.
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• Mar 06, 2022 · 3 years ago
  Another strategy is to carefully choose the exchange you trade on. Some exchanges have higher liquidity and lower spreads, which can help reduce slippage. It's also important to consider the trading volume of the currency you are trading, as higher volume generally means lower slippage.
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• Mar 06, 2022 · 3 years ago
  At BYDFi, we recommend using our advanced trading platform to minimize slippage. Our platform offers features such as smart order routing and real-time market data, which can help you execute trades at the best possible price. Additionally, our platform has a large pool of liquidity providers, ensuring that you have access to competitive prices and minimal slippage.
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