Limit orders allow traders to set the exact price at which their order can be filled.
When choosing this order type, traders can be confident that they will not buy their coins at a higher price or sell them at a lower price than stated originally. If anything, they might get a better deal, but it will never be worse than what they indicated.
Limit orders are generally considered to be safer than other types, but they sometimes take quite a long time to be filled. It’s because traders may set a price too high or too low, which in turn leaves them without deals. Sometimes such orders expire before they are filled.
To avoid this issue, do not deviate too much from the current market price. Keep your expectations realistic.