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How to place buy and sell BTC orders
How to place buy and sell BTC orders

A brief introduction of trading basics

Kuna Support 3 avatar
Written by Kuna Support 3
Updated over 4 months ago

How to place buy and sell BTC orders

After registering and activating your account, you'll receive an email with links to an overview of the exchanger's personal account - be sure to check it out! You will find important information about account setup, 2-factor identification, deposits and withdrawals.

Please note! Lifetime of an open order - please note that if the order is not executed within 3 months from the moment of its opening, the order will be automatically canceled.

Once you have funded your account with fiat currency or cryptocurrency, you will be able to place an order to buy or sell an asset.

To do this, click the menu item "Trades". at the top of the page - it will take you to the main page of the exchange with the trading schedule and tables of placed buy and sell orders.

In the left column, you can select the trading pair you are interested in.

In the right column, you can find the Order Book, where you can see the offers of our service users. The "Price" column displays the price offered for a specific "Quantity", and also indicates how much "Total" this offer costs.

Let's look at a specific option: In the screenshot, the offer is 0.00025 BTC, sold at a price of 861,861 UAH. In total, 215 UAH will be deducted from the balance for such a transaction.

Order types

There are 2 main types of orders in the Market and Limit .

The "Market" order implies instant buy/sell, with the best market price being selected. The system automatically selects the best offer from the Market depth table and execute it.

The "Limit" order allows you to indicate the "Price" yourself, thus setting an order at a fixed price and making a deal when your price suits other market participants.

What is a partially executed order?

A partially executed order means that your order to buy or sell a certain amount of cryptocurrency was executed only for a part of its total volume. This happens when there are currently not enough buyers or sellers on the market to fully satisfy your request, or if you canceled the order yourself during the execution process.

For example, if you placed an order to sell 10 BTC, but there are currently only 5 BTC buyers at your price, your order will be partially executed for 5 BTC, and the remaining 5 BTC will remain pending.

If you decide to cancel your previously opened order for any reason, but it was partially executed, as evidenced by the "Filled" column, you will receive the part of the asset that you managed to buy (or give away the part of the asset that you sold), but you will be charged a commission for order execution.

Before opening an order, evaluate the order book that we have reviewed above, which is important for controlling the price and quantity of the asset if you open a Market order.

Buying BTC

Buy BTC for hryvnia (UAH)

Write the amount of bitcoins you want to buy in the "Amount" field, and in the next "Price" field - fill in the price you are ready to buy for. The third field will show the amount you need to execute this request (if you have enough funds on your account).

Check again the amount and the price, and if everything is correct - click on the "Buy BTC" button. Your order will appear in the line below the field for placing orders.

If you still have funds on your account balance after the first order has been placed, you can create other orders.

If the price at which you want to buy BTC is lower than the best price for sale, your order will be in the queue for execution.

You should understand that your order will be executed only if the market "agrees" with the indicated price. In other words, if there is a seller willing to sell bitcoin at this price. Otherwise, your order will not be executed and to buy BTC you will have to cancel it and set another price (or wait until your order is executed, which may not happen, or take a long time).

Buying BTC for hryvnia (UAH) on sell counter-order

If you do not want to wait for the execution of your order and are ready to buy BTC for the current bid price (check the "Sell" column top row - this is the best selling price), click on the top row with this price. The data of this order will appear in the order field and you can change the amount of BTC you need or the price you want to buy BTC for. After clicking "Buy BTC" your order will be executed immediately (if the counter order has not been executed before you clicked on the "Buy BTC" button).

If there is not enough BTC in counter-order, you can then choose the next bid for the best selling price or place your buy order.

All right, now is the time for placing your first order!

Selling BTC:

Selling BTC for hryvnia (UAH) with your order

Enter the amount of bitcoins you want to sell in the "Quantity" field. In the "Price" field you need to indicate the price you are ready to sell your bitcoins for. The third field will show the amount that you will receive in case your order is executed.

Double-check entered amount and price. If everything is correct - click on the "Sell BTC" button. Your order will appear in the line below the field of placing orders.

If a part of BTC after the first order has been placed remain on your account balance, you can place new orders to sell the desired amount of BTC indicating your own price.

If the price you want to sell BTC for is higher than the best price to buy, your order will be in the queue for execution.

You should understand that your order will be executed only if the market "agrees" with the indicated price. In other words, if there is a buyer willing to sell bitcoin at this price. Otherwise, your order will not be executed and to sell BTC you will have to cancel it and indicate another price (or wait until your order is executed, which may not happen, or take a long time).

Sale BTC for hryvnia (UAH) on buy counter-order 

If you do not want to wait for your order execution and are ready to sell BTC for the current bid price (check the "Buy" column top row - this is the best buying price), click on the line with this price. Counter-order data will appear in the order field and you can change the amount of BTC or the amount you want to sell BTC for. After clicking on the "Sell BTC" button  your order will be executed immediately (if the counter-order has not been executed before you clicked the button).

If “Buy” counter-order is too small to buy out all your BTC, you can choose the next bid for the best buying price or place your sell order.

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