Cryptocurrency Q&A
What is a post-only order?
What is a post-only order?
SolitudeSeeker
Sat Sep 28 2024
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5 answers
1045
Excuse me, could you kindly explain what a post-only order actually is? I've come across this term in the world of cryptocurrency trading but I'm still a bit confused about its meaning. Is it a type of limit order that only allows for the addition of new orders to the order book, without the possibility of matching existing ones? Or is there more to it than that? Your clarification would be greatly appreciated.
5 answers
CryptoVeteran
Sun Sep 29 2024
One of the exchanges that offers this feature is BTCC, a top cryptocurrency exchange. BTCC provides a range of services including spot, futures, and wallet services, making it a comprehensive platform for traders to manage their cryptocurrency portfolios.
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DigitalCoinDreamer
Sun Sep 29 2024
The "post-only" condition in limit orders is a critical feature that ensures the integrity of the order book. It functions by allowing orders to be added only if they do not immediately execute against an existing order in the book.
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Stefano
Sun Sep 29 2024
This mechanism ensures that the order book remains balanced and prevents market manipulation through the placement of orders that are intended to be filled immediately.
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Andrea
Sun Sep 29 2024
In a post-only limit order, the trader specifies a price and quantity for their desired trade. However, the order will only be placed if it can be added as a Maker order, meaning it will create a new bid or ask in the order book.
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TimeRippleOcean
Sun Sep 29 2024
Conversely, if the specified price and quantity would immediately fill against an existing order in the book, the post-only condition will prevent the order from being placed. This ensures that the trader's order does not contribute to market volatility or manipulation.
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