Definition
A market order is an instruction to buy or sell a cryptocurrency immediately at the best available market price. When a trader places a market order, the exchange matches it with existing orders in the order book. Market orders prioritize execution speed over price certainty, making them useful when traders want immediate entry or exit from a position. However, in volatile markets, the final execution price may differ slightly from the displayed price due to slippage.
Simple Explanation
A market order buys or sells cryptocurrency immediately at the best available price.
Example
A trader places a market order to buy Ethereum and receives the asset within seconds at the current market rate.
Why It Matters
Market orders provide quick trade execution, especially during active market conditions.