At Coinbase, stop losses can be set using the ‘stop’ field in the ‘order form.’ Stop losses will only work if your order is not immediately filled.
To set a stop loss, you’ll need to enter the price you want to sell at in the ‘stop’ field. The stop price must be below the current market price for buys and above the current market price for sells.
NOTE: WARNING: Stop loss orders are not available on Coinbase. Therefore, users should exercise caution when using Coinbase for trading and investing. If a user sets a stop loss order, the order will not be executed and the user may be exposed to greater losses than intended. It is recommended that users employ other methods of reducing risk such as limit orders or diversifying their portfolio.
If your stop loss is triggered, your order will be placed at the next available market price. This means that your order may not be filled at the stop price and you may experience slippage.
Stop losses are a useful tool to limit your losses on a trade, but they’re not perfect. If you’re looking to trade cryptocurrency with a high degree of accuracy, it’s important to do your own research and make sure you understand the market before entering into any trades.
2 Related Question Answers Found
If you’re a Coinbase user, you may be wondering how to go about recovering your money if the exchange were to suddenly close down. While it’s unlikely that Coinbase will close down anytime soon, it’s always good to be prepared for the worst. Here’s what you need to know about recovering your funds from Coinbase.
As of now, you cannot store Verge on Coinbase. This is because Coinbase does not support any coins that are not Bitcoin, Ethereum, Litecoin, or Bitcoin Cash. However, there are a few ways that you can store your Verge coins off of Coinbase. .
