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What's the Order Limit?
Binance
2020-09-24 03:11
When posting a trade ad after you select the crypto asset and price, you will be required to define the trading amount and set value of “Order Limit”:
Lower limit indicates the minimum amount the taker can take from your ad in one single order, while the upper limit poses effects on the maximum amount.
For example, if you are posting a 100-USDT (400 CNY) buy ad and set 100 CNY as the lower limit and 400 CNY as the upper limit, for each order, the takers can only sell within 100 to 400 CNY equivalent value of crypto to you. You can also set the upper limit to the full amount of 400 CNY.
Your ad will be fully filled if someone places a full sell order of 400 CNY, or places multiple orders, but the total amount of one single order must be higher than 100 CNY and less than 400 CNY.
In this sense, “the lower limit” < “the amount a taker can take for each order” < upper limit <= total fiat amount of my ad.
In the picture above, the taker cannot take my ad with only 50 CNY (lower limit = 100), and cannot take with 500 ( upper limit = 400);
Here are more screenshots on the App:
What does error notification “Remaining Ad balance is less than its order minimum limit” mean?
Let us continue with the buy ad with 400 CNY case, you have the lower limit at 100 CNY and the upper limit at 400 CNY. *Note, “the lower limit” < “the amount a taker can take for each order” < upper limit <= total fiat amount of my ad.
And a taker just bought 350 CNY equivalent value of crypto from you through your ad, and the rest of the assets left in your ad are worth 400-350=50 CNY ( = total fiat amount of my ad for now).
However, 50 CNY is not sufficient for any taker to take from 100 CNY (lower limit) to 400 CNY (upper limit) according to your previous setting. When you see this error notification, your ad is no longer visible to other takers.
Therefore, you have 2 options for now, either to “edit the ad” and change the order limit; Or close the ad entirely and post a new one:
Go to the App page, click on the 3-dots on the upper right corner, and choose “Ad Management”.
Here you can choose either “Edit Detail” or “Close”:
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