It is no secret that cryptocurrency exchanges make a killing by selling high and buying low. This is how they are able to make a profit and stay in business. However, what if you want to do the opposite? Is it possible to limit sell on Binance?
The answer is yes, but there are a few things you need to know before attempting to do so. First of all, limit selling is not for everyone.
It is a high-risk strategy that can only be employed by those who are willing to lose money in the short-term in order to make money in the long-term. Secondly, limit selling is only possible on certain exchanges, and Binance is one of them.
In order to limit sell on Binance, you will need to create an account and deposit funds into it. Once you have done this, you can then place a limit sell order for the amount of cryptocurrency you want to sell.
It is important to note that you will not receive the full amount of your order immediately; rather, you will receive it once the market price falls below your limit price.
Of course, there is always the possibility that the market price will never fall below your limit price and you will simply be stuck holding onto your cryptocurrency until it eventually does. This is why limit selling is a risky strategy; however, if executed correctly, it can be very profitable.
So, if you’re feeling brave and are willing to take on some risk, then limit selling on Binance might be worth considering. Just remember to do your research first and always set a stop-loss in case things go wrong.
Can You Limit Sell on Binance? YES.