How to Set Limit Order on Coinbase App in 6 Steps

Hey, this is a quick guide on how to set a limit order on the Coinbase mobile app in 6 easy steps. Let’s dive into it.

Quick Guide

1. Open the Coinbase Pro app and click on “trade”
2. Find the crypto coin you want to place a limit order on
3. Click Buy or Sell
4. Enter your limit price i.e. the maximum price you are willing to pay if you are buying or the lowest you are willing to accept if you are selling.
5. Enter the amount you want to buy/sell
6. Preview and confirm

Infographic on how to set a limit order on the Coinbase app

Detailed guide with screenshots

Limit orders are only available on Coinbase Pro.

Step #1: Open the app and select trade

Click on trade in the bottom middle of the horizontal menu.

Step #2: Search for the asset you want to place a limit order for

In this example, I am going to choose Bitcoin.

Step #3: Click on the “buy” button for a buy order

Obviously, click on the sell button if you are selling.

Step #4: Input your limit price

This is the price at which you are willing to buy/sell the asset. You are instructing Coinbase to buy/sell at the limit price or better.

For example, if I set a buy limit order at $25,000 it means I am willing to buy BTC at $25,000 or lower.

On the other hand, if I am selling and I set my limit price at $35,000 then I can it means I am willing to sell only at $35,000 or higher.

Step #5: Enter the amount

Type the amount you want to buy/sell. You can either fill in the amount of BTC or you can fill in the amount of the cryptocurrency you are trading BTC for.

For example, if you are trading USDT for BTC you can enter the amount of USDT you want to trade for BTC. If I wanted $100 worth of BTC I would enter 100 USDT in the USDT field and the field for the BTC amount will auto-populate with the corresponding amount.

You can also choose a percentage of your holdings to sell as that makes inputting the number easier.

Step #6: Preview and confirm the transaction

Check that you are happy with your order in the preview.

There you will also see an estimate of the network fees.

Once you are ready hit the buy/sell button and your order will be placed.

You will be able to see and cancel your order under open orders until it is filled.

What is a limit order?

A limit order is a type of order that allows users to buy or sell a cryptocurrency at a specific price or better.

Unlike market orders that execute immediately at the current market price, limit orders give users more control over the price at which they want their trade to execute.

Limit orders can be particularly useful in fast-moving markets, where prices can fluctuate rapidly.

By setting a given price at which you are willing to buy or sell, you can avoid what is known as slippage.

In general, it is best you place a limit order whenever you make a trade on the Coinbase mobile app because you never know if the price will fluctuate between the time you place a market order and the time it executes.

On rare occasions, there can be high price gaps.

The larger digital assets will have high liquidity on Coinbase. However, if you are not sure you can check the order book to see if there is enough liquidity.

Limit order drawbacks

• Limit orders don’t always execute. It could be the case that your order never gets fulfilled because the crypto coin never reaches the limit price
• Limit orders can be partially filled. If the price of the asset reaches your limit but then quickly moves away from it you might end up with a partially filled order.
• You need to be patient

Other order types on Coinbase

There are two other options you can choose from when placing an order on the coinbase app.

#1. Market order

A market order executes at whatever the prevailing price in the cryptocurrency market is at the time.

For example, say Polkadot (DOT) is trading at $8.

Then if you place a market buy order you are likely to get DOT at $8.

This is not guaranteed as the price might change between when you hit the buy button and when the order executes but in a market with high liquidity it’s very likely you will get the specified price.

#2. Stop-limit order

Imagine you want to sell if the price starts going down but you don’t want to sell at too low a price.

For this, you could set a stop price at which point you want a limit order to kick in.

For example, say I have ETH and the current price is $3,000.

If I set a stop limit order with a stop price of $2,500 and a limit of $2,400 this instructs Coinbase to trigger a limit order if the price reaches $2,500.

It’s like telling coinbase, “If the price drops to $2,500 start selling x amount provided I can get more than $2,400 for it.”

How long is a limit order valid for?

When you set a limit order on Coinbase you have two options.

A Good ‘Til Canceled (GTC) order is valid until you cancel it.

A Good ‘Til Time (GTT) order will remain valid until a specified time or until you cancel.

Coinbase Limit Order Fees

You will be able to see the fees for your transaction in the preview.

In general, fees vary based on the coin you are trading and can vary between 0 and 0.6%.

Maker fees are cheaper ranging from 0$ – 0.4% whereas taker fees are at 0.05%-0.6%.

Limit orders are charged maker fees because by placing the order you are adding liquidity and making the market.

Traders who place market orders are considered takers as they accept the market price. They get charged more because they do not contribute to liquidity.

In the table below you can see the fees Coinbase charges for stable pairs such as a crypto coin – dollar purchase.

Coinbase fees

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