How to use Tokenlon’s limit order
Last updated
Last updated
What if the market is trending downward, and you want to buy ETH with USDT? You want to swap for ETH when the price drops to $1,400, the order expiration is also set to 7 days. This time the trade is set up as follows:
Trade direction: USDT to WETH
Enter the amount of USDT you want to sell, for example, 1,400 USDT
Limit price: 1 WETH = 1400 USDT, which is 6.72% higher than the USDT market price
Expires in: 7 days
Assuming you want to swap ETH for USDT when it rises to $1,600 and the order expiration is 7 days. i.e. After 7 days, if the limit price is not reached, the order will be invalid. Your limit order will look like this:
Trade direction: WETH to USDT
Enter the amount of WETH you want to sell, for example, 1 WETH
Limit price: 1 WETH = 1600 USDT, which is 6.72% higher than the ETH market price
Expires in: 7 days
The system will automatically calculate the amount of USDT you will receive based on the ETH amount you entered
Notes
You have to wrap ETH to WETH first and then place a limit order via WETH. You cannot place a limit order using ETH, find out more details.
You only need to authorize a token once when you swap or place a limit order on Tokenlon. At the same time, please ensure that there is a small amount of ETH balance in the wallet to pay the gas fees to authorize the token.
If you have any questions about the limit order, you can read the limit order’s FAQs or join our discord to contact us. And the most important is that do not forget to participate in the Buy the Dip competition to win iPhone14 & AirPods.
