Market order: order that buy or sell asset using the price of current market.
Limit order: order that buy or sell asset at a specific price.
- When you want to buy or sell token immediately, market order will make trade happen as soon as possible.
- If you want to trade at a better price and do not need to trade immediately, limit order trade at or better than the price you set. Risk of limit order is that you may miss your trade opportunity.