Market order is and order that enables you to quickly sell/buy at an up-to-date price. In Narkasa, to create a market order you must determine the amount of assets you wish to spend for a buy order or determine the amount assets you wish to sell in a selling order.
Transactions are performed by displaying the prices in an order of best-selling price to the amount you wish to trade in.
For example, lets say you wish to immediately sell 4 BTC using a market order. However, at that moment the market listings show 2 BTC being sold at a best price of 42,000 TRY while immediately after there is a listing for 5 BTC being sold for 40,000 TRY. Your market order will be performed by matching the first best price of selling 2 BTC for 42,000 while the remaining 2 BTC sold for 40,000 TRY. With this type of transaction, you will be able to sell a BTC for an average of 41,000 TRY for 4 BTC.
TipYou may use your Fast order and Market order to determine the amount of assets you would like to spend while making a purchase.
Market Order Example of Buying; Let’s say you want to buy 2BTC and your available asset in your account is 90.000 TRY. Best price in the market is 40.000 Turkish liras for 1 BTC, and the second price immediately after that is 50.000 Turkish liras for 2 BTC. Your market order will match with the first price but the cheapest sell order in the market will not be enough to fill your order, so your order will automatically match the next order to complete the rest of your order. With this type of transaction you would have both 2 BTC for 90.000 TRY for and average of 45.000 per Bitcoin.
Example of a sale using Market Order; Let’s say you wish to sell your 4 BTC with Fast sell, and the best price in the market is 32.000 TRY for 2 BTC and the following price is 30.000 for 5 BTC. Your market order will match with the first price, but the highest price is in the market will not be enough to fulfill your order, so the order will automatically match the next order for fulfill the rest of your order. With this order you sold 4 BTC for 31.000 TRY.
Important InformationMarket orders occur instantly according to the depth of the board and cannot be undone.