Sell volume of coins with ease on CoinSpot with our new pegged order type allowing you to either lead the market or place safe orders based on market movements. You no longer have to check your orders frequently to adjust the price to keep them in line with the fast moving market, you can create a pegged order and have the CoinSpot platform automatically adjust your order to keep it in line with the current market. Pegged orders on CoinSpot allow you to do any of the following:
1. Place an order which will always be the best bid or ask
You can place an order which is pegged to the current best bid/ask so that your order is always the first to be processed, this is great if you want an order to go through as fast as possible while beating of other bids/asks. You can also adjust the bid/ask price to set it at a fixed percentage higher or lower than the current best bid/ask, this way if you always want to lead the market by a fixed percent you can do it with ease.
2. Place an order which moves in tune with the current market price
Placing an order for a volume of coins has prevously required a bit of work as you have to frequently adjust the price of your order as the market moves to ensure you are getting the best value from your order. With a pegged order to the current market price it is a whole lot easier, you can place an order on CoinSpot and have it pegged to the current worldwide market price for any of the coins on CoinSpot and like the other pegged order types you can even set a fixed percentage either higher or lower than the current market. This would allow you to for example place a sell order for 10 BTC and have CoinSpot adjust the price to keep it constantly 10% above the market price - how good is that!
3. Place an order which sits in the middle of the bid/ask spread
If you want to help move the market along you can also place an order which will sit in the middle of the current bid/ask spread. Splittling the spread can help get a market without much movement to start moving, you encourage others to negotiate a medium price. Again with this pegged order to the middle of the spread you can be either above or below by a fixed percentage, so you may want to try entice the spread towards you by placing a bid at 10% below the current middle, a great way to help the market towards your end.
The great thing about the new order types on CoinSpot are that there is no extra charge, it all comes at the low fixed rate of 1% on buy orders and as per usual it's free to sell. So free to sell and easy to list your coins and have them move with the market at your descretion - what are you waiting for join Australia's best crypto exchange today!
Have an idea for other order types you would like to place on CoinSpot drop us your idea via the contact us, we are keen to build a better exchange together.