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How does a GTC contract work in the context of digital currencies?

avatarDropati YadavFeb 17, 2022 · 3 years ago1 answers

Can you explain how a Good 'Til Canceled (GTC) contract works in the context of digital currencies? What are its features and benefits?

How does a GTC contract work in the context of digital currencies?
GTC Contract
Digital Currencies
Features

1 answers

  • avatarFeb 17, 2022 · 3 years ago
    A GTC contract is a powerful tool for digital currency traders. It allows you to set your desired buy or sell price and the contract will stay open until the price reaches your specified level or you manually cancel the order. This gives you the flexibility to enter or exit positions at specific price points without constantly monitoring the market. GTC contracts are commonly used by traders to automate their trading strategies and take advantage of market opportunities. It's a popular feature offered by many digital currency exchanges, including BYDFi, to enhance the trading experience for users.

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