A limit order specifies the worst price you will accept and waits. It will not fill beyond that price, which also means it may not fill at all.
So the trade-off is the mirror image of a market order: full control over price, no guarantee of execution. Neither type is the smarter choice in general. They answer different questions, and the honest test is which regret you would rather risk - paying more than you wanted, or watching the market leave without you.
Binance Academy covers this in more depth: https://www.binance.com/en/academy/glossary/limit-order
Trading crypto from Dubai since 2019.
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