Market order is the easiest way to trade cryptocurrency on Firi. With market order, you can buy and sell cryptocurrency immediately at the best price available.

Put simply, a market order is where you buy or sell cryptocurrency at the best available price in the order book right now. You specify how much you want to buy or sell for, and the order will then be matched in our market.

We are noticing that the first thing most customers do when they register with Firi is to buy cryptocurrency, usually bitcoin, for a certain amount. When using a market order, you can enter the amount you want to trade for, while when selling, you can enter the number of the cryptocurrency you want to sell, and get it sold to the highest bidder immediately.

For example: You want to buy bitcoin for 1000 Norwegian kroner. You open the Firi app and select Trade and then Buy Crypto. You then select bitcoin and enter that you want to buy bitcoin for 1000 kroner, preview order and confirm.

You are now buying bitcoin at the best exchange rate on the market right now - that is, the cheapest anyone is willing to sell for right now in the order book. Therefore, you should be aware that the stated exchange rate when you trade is an estimate, and can vary by up to three percent.

To place a market order for buying crypto, you simply need to follow these steps:

Your order will be executed at the best price in the order book.

Note that you will receive an overview of the trade which you must confirm before the trade is completed. If you are satisfied with the estimated price, you can confirm the purchase and receive a confirmation that the transaction has been completed and an overview of what price you were allowed to buy for.

To place a market order for selling crypto, you simply need to follow these steps:

Your order will be executed at the best price in the order book.

Note that you will receive an overview of the trade which you must confirm before it is completed. If you are satisfied with the estimated price, you confirm the sale and are immediately informed that the order was filled and what price you received for your crypto.

Interested in trading crypto? Sign up to Firi here!

Sometimes the market can move in between the time it takes for you to place an order until it is filled. Note that the price you are presented is an estimate of the price you get when the trade is executed. You may risk that the price estimate you are given does not exactly match the price at which the order is executed. This is because the price has changed in the short time in between. This is called "slippage", and can go in both directions.

We have set a barrier of a maximum of 3% slippage in the negative direction. This means that if the market rises more than three percent from the time you place a purchase order and approve the price estimate until it is placed on the market, the order will be cancelled. The same happens if the price falls more than three percent when you place a sales order.

In other words, the price will never vary more than three percent from the price estimate. In most cases, you will receive approximately the same amount as the estimate we calculate for you.

If you are interested in trying out crypto trading, register with Firi here!