How to set a limit order on Coinbase versus a market order?

Understanding Order Types on Coinbase

1. A market order executes immediately at the best available price in the order book. It prioritizes speed over price control, meaning users receive the current bid or ask depending on direction.

2. A limit order allows users to specify the exact price at which they want to buy or sell an asset. Execution only occurs when the market reaches that price or better.

3. Market orders are ideal for users seeking instant execution without concern for minor price slippage. They appear in the order book only momentarily before being matched.

4. Limit orders remain pending until conditions are met. They may never execute if the market does not reach the specified price, offering precision but no guarantee of fulfillment.

5. On Coinbase’s interface, market orders appear under the “Buy/Sell” tab with a single input field for amount, while limit orders require separate price and quantity fields.

Navigating the Coinbase Trading Interface

1. To place a market order, select the asset, enter the desired USD or crypto amount, and click “Buy” or “Sell” — no price input is requested.

2. For a limit order, toggle from “Market” to “Limit” in the order type selector, then manually input both the price and quantity fields.

3. The platform displays real-time order book depth alongside the form, helping users assess whether their limit price aligns with current liquidity.

4. Coinbase shows estimated execution time and probability indicators for limit orders based on recent trade volume and spread width.

5. Users can view active limit orders under “Orders” in the trading dashboard, where each entry includes status, filled percentage, and remaining quantity.

Fees and Execution Behavior

1. Market orders always incur taker fees because they remove liquidity from the order book by matching against existing limit orders.

2. Limit orders may qualify as maker orders if they add new liquidity — that is, if the price is worse than the best available bid or ask — resulting in lower or zero fees on certain tiers.

3. Coinbase applies fee schedules based on 30-day trading volume, with higher-volume users receiving reduced taker and maker rates.

4. Partial fills are common with large limit orders; the system executes against multiple counterparties at varying prices within the same order, all respecting the user’s maximum or minimum threshold.

5. Stop-limit orders combine features of both types but require separate configuration — they activate as limit orders only after a trigger price is reached.

Risks Specific to Each Order Type

1. Market orders carry slippage risk during high volatility or low liquidity events, especially for altcoins with narrow order books.

2. Limit orders expose users to opportunity cost: if the market moves away rapidly, the order may expire unfilled while prices shift unfavorably.

3. Large market orders on illiquid assets can move the price significantly before full execution, amplifying effective cost beyond displayed rate.

4. Limit orders placed too close to mid-price may get swept quickly during momentum spikes, leading to unexpected fills at undesirable times.

5. Coinbase does not support post-only or hidden limit orders on its standard retail platform, limiting advanced execution strategies.

Frequently Asked Questions

Q: Can I cancel a market order after submission?A: No. Market orders execute instantly upon confirmation. Once submitted, they cannot be canceled or modified.

Q: Why did my limit order fill at a different price than I set?A: Limit orders fill at the specified price or better. If you placed a buy limit at $30,000, it may fill at $29,950 or $29,800 — never above $30,000.

Q: Does Coinbase display the total fee before order confirmation?A: Yes. The final review screen breaks down the base amount, estimated fee, and total cost or proceeds in fiat or crypto terms.

Q: Are limit orders visible to other traders on Coinbase?A: Yes. All active limit orders appear anonymously in the public order book unless placed via Coinbase Prime or institutional APIs with special routing options.