Leading bitcoin wallet and exchange services provider Coinbase has announced stop orders, a new feature that will allow customers to buy or sell the cryptocurrency at a previously specified set price in the Coinbase Exchange.
Bitcoin services provider Coinbase has now added stop orders as a new feature to its exchange, enabling users to buy and sell bitcoin at a pre-determined set price.
The feature will help allow traders to protect profits and limit losses, as well as initiate new positions and parameters when the market breaks out one way or another, as Coinbase puts it.
The feature is enabled in the ‘STOP’ tab in the orders panel, wherein users will have the option to place a stop order that can either ‘buy’ or ‘sell’ the cryptocurrency. Once the amount is entered, users will be able to set the price point at which the order ought to be triggered.
After submission, the stop orders are instantly available in the ‘open orders’ panel. The stop orders